Wealth Management
Top stories summarized by our editors
5/21/2018

Claire Van Wyk-Allan, AIMA's head of Canada, said proposed amendments to National Instrument 81-102 - Investment Funds would enable "[a]ll investors in Canada ... to access the diversification, risk-reduction, and non-correlated returns that alternative investments provide." The proposal to create a new asset class would also involve asset-allocation guidelines, risk-rating updates, new product education rules and an increased regulatory focus, Van Wyk-Allan said.

5/21/2018

Discretionary global macro is an area of rising demand in alternative UCITS, but relatively few managers are in the space, Moez Bousarsar of Lyxor said. Other strategies showing potential for increasing demand are in risk premia and the equity market neutral space, Bousarsar said.

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Citywire
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Ucits
5/21/2018

Data show hedge funds' net-long position on Brent crude -- which rose above $80 per barrel, a level not reached since 2014 -- declined for the fifth straight week for the week ended May 15. Meanwhile, hedge funds' net-long position for West Texas Intermediate crude experienced its biggest drop in six weeks as WTI and Brent are both up 18% so far in 2018.

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Brent, West Texas Intermediate, WTI
5/21/2018

Hedge funds' monikers frequently involve nautical terms, New England cities and names of alcoholic drinks, according to a word chart by online investment network SumZero. Commonly used root names include "value," "street," "point" and "river."

5/21/2018

Bills that would limit the carried interest tax breaks for hedge fund and private equity managers have emerged in such states as California, New York and Connecticut.

5/21/2018

The Commodity Futures Trading Commission has approved changes to margin requirements for uncleared swaps to better align the rules with those from other regulators. The changes eliminate "unnecessary red tape that hinders job creation, economic growth and innovation," Chairman J. Christopher Giancarlo says.

5/21/2018

The Securities and Exchange Commission has launched HoweyCoins, a bogus website that highlights the risks of being swayed by promises of extraordinarily high returns via cryptocurrency investments. When users select to "buy coins now," they are taken to an official SEC site that notes they could have been duped and lists the warning signs of a fake offer.

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CNBC
5/21/2018

A critic of fixed-indexed annuities argued that buyers are giving up growth when, in fact, they are choosing safety for their invested funds, writes financial planner Stephen Kelley. He discusses the benefits of FIAs and the fallacy of believing "that everything is a choice between the market and some inferior alternative."

5/21/2018

Sens. Todd Young, R-Ind., and Cory Booker, D-N.J., have introduced legislation to create a federal commission to look for ways to improve retirement security for private-sector workers. The commission would consider proposals to help the mobile workforce, and gig and part-time workers, and review policies from other countries, including the mandatory retirement savings systems in some Scandinavian nations, Young said.

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Forbes
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Todd Young, Cory Booker, Sens.
5/21/2018

Women and those with multicultural backgrounds are underrepresented in the advising business, which is a threat to the profession and an opportunity, writes Marguerita Cheng, CEO of Blue Ocean Global Wealth. She champions the idea of conscious inclusion and explains how it can help firms find talent and improve "productivity, profitability, quality, employee commitment and retention."