Core Insights - Emerging markets showed strong performance in 2025, with stocks rising approximately 26% despite geopolitical and tariff uncertainties [1] - Investor sentiment towards emerging markets has significantly improved, with net sentiment reaching a record high according to an HSBC survey [2] Market Performance - The Dow Jones Emerging Markets Index has increased by 18.64% year to date, outperforming the S&P 500 Index, which has gained 15.19% during the same period [3] - Emerging market equity funds experienced inflows of $2.78 billion in the week ending December 10, marking the seventh consecutive week of net buying [7] Investment Trends - Investors are diversifying away from U.S. equity trades, particularly in light of concerns over a potential AI-driven bubble, leading to increased interest in emerging market funds [4][6] - The weakening U.S. dollar and expectations of further Federal Reserve rate cuts are enhancing the attractiveness of emerging market funds [8][9] Fund Recommendations - Suggested emerging market equity ETFs include iShares Core MSCI Emerging Markets ETF (IEMG), Vanguard FTSE Emerging Markets ETF (VWO), and iShares MSCI Emerging Markets ETF (EEM) [11] - For emerging market bonds, recommended ETFs include iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB) and Vanguard Emerging Markets Government Bond ETF (VWOB) [14] Economic Fundamentals - Emerging market fundamentals are strengthening, with improvements in sovereign credit gaining momentum year after year, as noted by a strategist at Morgan Stanley [13]

Economic Outlook - The market is focused on the implications of the new Fed chair on interest rates, particularly the challenge of convincing other FOMC members to support rate cuts [2][3] - There are expectations of economic growth accelerating due to various tailwinds, including the "one big beautiful bill" and favorable oil prices [4][5] - Inflation is currently around 3%, and there are concerns about maintaining interest rates in a growing economy [6] Employment Trends - Job growth has slowed significantly, with net immigration into the US dropping from around 3 million annually to a projected 500,000 over the next two years [8] - The new equilibrium rate for non-farm payrolls has decreased from 200,000 to 30,000 jobs created monthly due to reduced immigration [9] Risks to Growth - Stagflation is identified as a significant risk, particularly if AI does not meet growth expectations [10] - The construction of data centers has contributed positively to GDP growth, but a slowdown in capital expenditures could pose risks [11] - Inflation remains a complex issue, with various forces at play, and there are expectations of elevated inflation risks in the coming months [12][14] FOMC Considerations - The FOMC is divided on the approach to interest rates, balancing a weaker labor market against persistent inflation risks [15]

Retirement is often framed as the reward after decades of work. The alarm clock goes quiet, the schedule opens up, and time finally feels like it belongs to the people who earned it. For many Americans, though, the approach to retirement brings more unease than relief. A national LiveCareer survey found that 61% of working Americans say they fear retirement more than death, largely because of financial concerns. Instead of picturing travel or hobbies, many worry about whether their savings will last, how ...

Core Viewpoint - The S&P 500 is expected to experience growth in the upcoming year due to a combination of slowing inflation, a more dovish Federal Reserve chair, and continued positive U.S. GDP growth, despite a decline in enthusiasm surrounding AI [1] Group 1: Market Dynamics - The equity market serves as a powerful mechanism for wealth creation or destruction over the long term through daily price fluctuations [1] - The current market conditions are favorable for growth, driven by macroeconomic factors [1] Group 2: Investment Focus - Pacifica Yield aims to focus on long-term wealth creation by targeting undervalued high-growth companies, high-dividend stocks, REITs, and green energy firms [1]

(Bloomberg) — Owners of Invesco Ltd.’s famed tech fund QQQ (QQQ) voted to convert the product into an open-ended structure, a move that could unlock hundreds of millions in annual revenue for the asset manager. Shareholders of the $402 billion Invesco QQQ Trust Series 1 approved changing the fund’s structure from a unit investment trust, which is a little-used structure dating back to the birth of the first exchange-traded funds in the 1990s, an Invesco spokesperson said Friday. Most Read from Bloomberg ...

Core Viewpoint - Dynamic has announced estimated year-end cash distributions for its Active ETFs and ETF series for the 2025 tax year, with final amounts to be confirmed by December 30, 2025 [1][2]. Group 1: Estimated Cash Distributions - The estimated cash distribution amounts per unit for various Dynamic Active ETFs are provided, with notable distributions including: - Dynamic Active Corporate Bond ETF (DXCB): CAD 0.07700 - Dynamic Active Global Financial Services ETF (DXF): CAD 0.30320 - Dynamic Active Credit Opportunities Fund (DXCO): CAD 0.19961 - Dynamic Active Real Estate ETF (DXRE): CAD 0.15000 - Dynamic Active U.S. Investment Grade Corporate Bond ETF (DXBU): CAD 0.11742 [3]. Group 2: Distribution Timeline - The record date for the 2025 year-end distributions is set for December 30, 2025, with payments scheduled for January 5, 2026 [2]. - Final taxable amounts and characteristics of the cash distributions will be reported to CDS Clearing and Depository Services Inc. in early 2026 [2]. Group 3: Company Overview - Dynamic is a division of 1832 Asset Management L.P., offering a range of wealth management solutions including mutual funds and actively managed ETFs [5]. - 1832 Asset Management L.P. is a limited partnership, wholly owned by Scotiabank, and Dynamic® is a registered trademark of The Bank of Nova Scotia [5].

Core Viewpoint - Dynamic has announced estimated year-end reinvested distributions for its Active ETFs and ETF Series for the 2025 tax year, with final amounts expected to be announced around December 30, 2025 [1][3]. Group 1: Estimated Distributions - The estimated year-end distributions will be reinvested in additional units of the respective Dynamic Active ETFs and ETF Series, with no cash distribution amounts included for December [2]. - The estimated reinvested distribution amounts per unit for various ETFs are provided, with notable figures such as: - Dynamic Active Canadian Dividend ETF: 0.69580 CAD - Dynamic Active Global Dividend ETF: 10.99750 CAD - Dynamic Active U.S. Dividend ETF: 4.49560 CAD [4]. Group 2: Distribution Details - The record date for the 2025 year-end distributions is set for December 30, 2025, with payments scheduled for January 5, 2026 [3]. - The actual taxable amounts of reinvested distributions, including tax characteristics, will be reported to CDS Clearing and Depository Services Inc. in early 2026 [3]. Group 3: Company Overview - Dynamic is a division of 1832 Asset Management L.P., offering a range of wealth management solutions, including mutual funds and actively managed ETFs [6].

Core Viewpoint - A class action securities lawsuit has been filed against Blue Owl Capital Inc. for alleged securities fraud affecting investors between February 6, 2025, and November 16, 2025 [1][2]. Group 1: Lawsuit Details - The complaint alleges that Blue Owl Capital Inc. faced significant pressure on its asset base due to redemptions from business development companies, leading to undisclosed liquidity issues [2]. - It is claimed that the company was likely to limit or halt redemptions of certain business development companies, which contradicts the positive statements made by the defendants regarding the company's business and prospects [2]. Group 2: Investor Information - Investors who suffered losses during the specified timeframe have until February 2, 2026, to request appointment as lead plaintiff, although participation in any recovery does not require serving as a lead plaintiff [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees, with no obligation to participate [3]. Group 3: Legal Firm Background - Levi & Korsinsky, LLP has a strong track record in securing significant recoveries for shareholders and is recognized as one of the top securities litigation firms in the United States [4].

Core Insights - The fixed income market is complex and influenced by various factors such as interest rate policy, tariffs, and geopolitical tensions, making active management essential [2] - MFS Investment Management utilizes the expertise of its portfolio managers to navigate the intricacies of the fixed income market [3] Active Management Approach - MFS employs a diverse range of fixed income solutions that focus on intentional and prudent risk budgeting and allocation [4] - The firm's structured approach involves intensive communication and information sharing among specialized portfolio management, research, and trading teams [5] Investment Options - MFS offers active alternatives in fixed income, notably the MFS Active Core Plus Bond ETF (MFSB) and the MFS Active Intermediate Muni Bond ETF (MFSM) [6] - MFSB employs a primarily investment-grade bond strategy that integrates macro, bottom-up, and technical perspectives for value addition [7] - MFSM focuses on exploiting inefficiencies in municipal credit markets through active sector, quality, and security selection, benefiting from federal tax-free income and strong fundamentals [8] Cost Efficiency - Both MFSB and MFSM feature cost-effective expense ratios of 34 basis points [9]

Core Insights - The ongoing discussions regarding the impact of tariff policies on markets and the U.S. economy are expected to continue, especially following President Trump's announcement of new tariffs on various goods, including pharmaceuticals, furniture, and heavy trucks [1][2]. Tariff Impact Analysis - The recent article from BNY Investments highlights the complexity of determining who bears the financial burden of tariffs, noting that the full impact has yet to be realized due to several factors such as timing delays and exemptions [2][3]. - Initially, domestic firms absorbed the tariff pressures, but evidence suggests that these costs are now being passed on to U.S. consumers, as indicated by the August CPI report showing a 2.9% increase year-over-year [4]. Investment Strategy Recommendations - Given the early stage of tariff impact assessment, advisors and investors are encouraged to consider adding actively managed funds to their portfolios, which can offer flexibility in response to changing market conditions [5][6]. - The BNY Mellon Concentrated Growth ETF (BKCG) is highlighted for its active management and stock selection process, focusing on sectors with growth potential over the next three to five years [7]. - BKCG's high-conviction growth strategy has yielded positive results, with a year-to-date NAV increase of 13.98% as of October 31, 2025 [8].