Core Viewpoint - The mutual fund industry is increasingly converting to exchange-traded funds (ETFs) as they attract more capital while mutual funds are losing assets [2][3]. Group 1: Industry Trends - A record 60 mutual-fund-to-ETF conversions occurred in 2025, indicating a significant shift in investment strategies [2]. - ETFs are experiencing a surge in inflows, while mutual funds are facing outflows, prompting fund companies to adapt their offerings [3]. Group 2: Company Actions - Cohen & Steers is preparing to convert its Future of Energy Fund into an ETF, which currently manages about $130 million and has shown strong performance [2][4]. - Baillie Gifford is transitioning three of its mutual funds into ETFs, marking its entry into the US ETF market [4]. - Impax Asset Management has launched its first US ETF, a global infrastructure fund that replaces a similar mutual fund, reflecting the trend of mutual fund conversions [2][3]. Group 3: Performance Metrics - The Future of Energy Fund returned 17% last year, outperforming its Morningstar category peers, which returned 12% [4][6]. - Year-to-date, the fund has returned close to 16%, benefiting from strong performance in the energy sector [6].

Core Viewpoint - The recent loan wipeout by BlackRock's HPS to a telecom entrepreneur highlights the inherent risks present in the rapidly growing private-credit sector [1] Group 1 - The incident underscores that even sophisticated investors are not immune to losses in the private-credit market [1] - The private-credit business has been experiencing significant growth, attracting various investors seeking higher returns [1] - The failure of this loan raises questions about the due diligence processes employed by investors in this sector [1]

Group 1 - The article emphasizes the increasing importance of various investment tools such as ETFs, quantitative investments, and Systematic Active Equity (SAE) in the context of rising market uncertainty and interest rate fluctuations [2][4] - ETFs are highlighted for their unique value propositions, including providing liquidity, serving as effective price discovery tools, and enhancing market resilience during volatility [2][3] - The demand for bond ETFs is growing as investors seek to diversify risks and stabilize returns, with a notable increase in allocation from long-term funds like insurance and pensions [4][5] Group 2 - The current market for bond ETFs in China is still underdeveloped, with a penetration rate of approximately 0.4% compared to over 4% in mature markets, indicating significant growth potential [4][5] - Challenges facing the domestic bond ETF market include insufficient funding stability and uneven liquidity distribution, which hinder broader investor participation [5] - The article predicts that by 2026, institutional investors will increase their allocation to bond ETFs, driven by the need for effective risk management in uncertain economic conditions [6][8] Group 3 - The article discusses the localization of overseas systematic investment models to better fit the Chinese market, with adjustments made to product timelines and structures based on local investor needs [7] - It is suggested that the flexibility of ETFs will allow investors to capture structural opportunities in the A-share market in 2026, while systematic investments will provide comprehensive solutions to meet diverse investor demands [8] - The overall outlook emphasizes the importance of understanding the core values of various investment tools and aligning them with individual investment goals for stable wealth growth [8]

| 指数 | 开盘价 | 收盘价 | 近一交易日% | 近20交易日% | | --- | --- | --- | --- | --- | | 上证综指 | 4,128 | 4,128 | 0.13 | -0.25 | | 深证成指 | 14,201 14,211 | | 0.02 | 0.29 | | 创业板指 | 3,322 | 3,321 | -0.37 | -0.04 | | 恒生指数 | 27,203 27,183 | | 0.58 | 1.25 | | 日经225 56,812 57,651 | | | 2.28 | 7.66 | | 富时100 10,386 10,354 | | | -0.31 | 2.14 | | 道琼斯工业 | 50,193 50,188 | | 0.10 | 1.21 | | 标普500 | 6,974 | 6,942 | -0.33 | -0.51 | | 纳斯达克 | 23,271 23,102 | | -0.59 | -2.66 | | 主要市场股指表现 | | | | | | 10.00 | 近一交易日% | | 近20交易日% | | | （%） 8.00 | ...

Core Viewpoint - In a volatile market, increasing dividends signal a company's financial health and management's confidence in future earnings growth [1] Group 1: DBS Group Holdings - DBS reported a record total income of S$22.9 billion for FY2025, a 3% year-on-year increase [3] - Non-interest income surged 7% to S$8.4 billion, compensating for squeezed net interest margins [3] - Wealth management fees rose 29% to a record S$2.8 billion, contributing to a robust return on equity of 16.2% [4] - Total dividends declared were S$3.06 per share for FY2025, a 38% increase from the previous year [4] - Management plans to maintain a S$0.15 quarterly capital return dividend through 2026 and 2027 [5] Group 2: Singapore Exchange (SGX) - SGX reported a 7.6% year-on-year rise in net revenue to S$695.4 million for the first half of FY2026 [6] - Adjusted net profit increased by 11.6% to S$357.1 million, allowing for an interim dividend of S$0.2175, up from S$0.180 a year ago [7] - Management committed to a quarterly dividend increase of S$0.0025 through the end of FY2028, contingent on earnings growth [8] - SGX's monopoly position and expanding businesses provide a solid foundation for future growth [8] Group 3: Keppel Ltd - Keppel's net profit surged 39% to S$1.1 billion for FY2025, driven by infrastructure and fund management activities [10] - Recurring income grew 21% year-on-year to S$941 million, supporting its asset-light strategy [10] - Proposed total distribution for FY2025 is approximately S$0.47 per share, a 38% increase from the prior year [11] - The payout includes S$0.34 in ordinary cash dividends and a special dividend of S$0.13, which includes a distribution of one Keppel REIT unit for every nine shares held [12] - Keppel's transformation is enabling faster asset monetization and increased capital returns to shareholders [11][12] Group 4: Overall Market Sentiment - The rising dividends from DBS, SGX, and Keppel reflect strong business performance and management confidence [14] - These companies are not just surviving but thriving, with DBS benefiting from record-breaking fee income, SGX providing a multi-year roadmap for dividend increases, and Keppel unlocking a more profitable growth engine [14]

Fund manager FINQ has launched two U.S. exchange-traded funds (ETFs) in which the firm’s artificial intelligence (AI) model selects, designs and manages the portfolio, Reuters reported Tuesday (Feb. 10).By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions .Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS con ...

Core Insights - Artisan Partners Asset Management Inc. reported preliminary assets under management (AUM) of $185.3 billion as of January 31, 2026, with Artisan Funds and Artisan Global Funds contributing $90.2 billion and separate accounts and other AUM accounting for $95.1 billion [1] Group 1: AUM Breakdown - The AUM by strategy includes significant contributions from various teams, such as: - Global Opportunities: $16,711 million - Non-U.S. Growth: $16,501 million - International Value: $54,515 million - Global Value: $37,608 million - High Income: $13,382 million [2] Group 2: Separate Accounts and Other AUM - Separate account and other AUM consists of assets managed through vehicles other than Artisan Funds or Artisan Global Funds, including traditional separate accounts and Artisan-branded collective investment trusts [3] - The AUM also includes $126.6 million for which Artisan Partners provides investment models to managed account sponsors, reported on a lag not exceeding one quarter [4] Group 3: Company Overview - Artisan Partners is a global multi-asset investment platform offering a wide range of high value-added investment strategies across growing asset classes to sophisticated clients worldwide [5] - The firm has been committed to attracting experienced investment professionals since its inception in 1994, with autonomous investment teams managing diverse strategies across multiple asset classes [5]

Core Insights - The firm views SaaS businesses as resilient and believes they will benefit from AI advancements, with protective attachment points in SaaS-related credit [1][2] - The firm reported strong investment results for 2025, with a 15% gross return in Absolute Return Strategies and 11% in Infrastructure, alongside a significant increase in assets under management (AUM) [3][6] - Record fundraising of $10.7 billion in 2025, with a strong pipeline entering 2026, indicates robust client demand and diversified inflows across strategies [7][9] Financial Performance - Year-end AUM reached $91 billion, a 14% increase year-over-year, with fee-related earnings, adjusted EBITDA, and adjusted net income rising by 11%, 15%, and 18% respectively [6][10] - The firm reported a FRE margin of 44%, up 200 basis points from the previous year, indicating improved operational efficiency [12][13] Capital Allocation and Share Repurchases - Management increased buyback authorization by $35 million, with a total of $91 million available for share repurchases, and repurchased 2.8 million shares in Q4 at an average price of $11.11 [5][20] - The firm prepaid $65 million of its term loan to reduce leverage and save over $3 million annually in interest expenses [21] Strategic Initiatives - The firm launched Grove Lane Partners, a wealth management distribution joint venture, and an infrastructure interval fund, indicating a focus on expanding its wealth management capabilities [11] - Management emphasized the importance of diversification across portfolios, with SaaS exposure representing only 4% of total AUM, suggesting a cautious approach to market volatility [2][10]

Group 1: Prospera Financial Services - Prospera Financial Services has promoted Paul Keeton to Chief Investment Officer, overseeing $28 billion in client assets [2] - Keeton will lead investment services including alternatives, fixed-income, annuity offerings, and proprietary research [2] - Keeton joined Prospera in 2017, previously working at Dorsey, Wright & Associates for 20 years, where he developed various investment solutions [4] Group 2: KeyBank - KeyBank has added a five-person family office and private capital team to enhance its middle market client offerings [5] - The new division is led by Ward Nixon, who specializes in family office and private equity sponsor finance [5][6] - KeyBank aims to strengthen relationships with family offices and private equity investors, recognizing their influence in capital deployment and strategic decision-making [6][7] Group 3: American Beacon Partners - American Beacon Partners has appointed Tim McGeeney as head of investment product development, managing $83 billion in assets under management [9]

Core Insights - T. Rowe Price has two leading ETFs in early 2026, with the T. Rowe Price Natural Resources ETF (TURF) showing a year-to-date return of 16.1% and the T. Rowe Price QM U.S. Bond ETF (TAGG) attracting $233.08 million in net inflows [1] Group 1: Performance Highlights - TURF leads T. Rowe Price ETFs in performance with a return of 16.1% year-to-date as of February 10 [1] - TAGG has attracted $233.08 million in net inflows, making it the top fund in terms of flows for the firm [1] Group 2: Investment Strategies - TURF focuses on upstream natural resource companies involved in exploring, extracting, and developing commodities across various sectors, aiming to capitalize on commodity cycles [1] - TAGG employs a "core plus" approach to outperform the Bloomberg U.S. Aggregate Bond Index, utilizing quantitative models and fundamental credit research [1] Group 3: Fund Characteristics - TURF, launched in June 2025, has an expense ratio of 0.44% and a fund size of $19.2 million [1] - TAGG, initiated in September 2021, has a fund size of $1.77 billion and a competitive expense ratio of 0.08% [1]