Latest news with #BrandonClark
Yahoo
3 days ago
- Entertainment
- Yahoo
Shaw Local Radio Podcast: Talk-Line with Steve Marco on the latest news in Sterling from Shaw Local
May 28—Listen to "Talk-Line: Charlene Bielema and Brandon Clark on the latest in Sterling" on Spreaker. The Talk-Line interview for May 28 featured Shaw Local News representatives Charlene Bielema and Brandon Clark discussing important news happenings including things to do to start the summer of 2025, an "Unsung Hero" in Sterling, redevelopment of Sterling properties, area court cases and the upcoming Reagan Run during the 2025 Dixon Petunia Festival. Like what you hear? Be sure to visit WIXN, part of Shaw Local Radio. We're also available on Apple Podcasts and Spotify.
Yahoo
3 days ago
- Entertainment
- Yahoo
Transcript: Talk-Line with Steve Marco on the latest news in Dixon and Sterling from Shaw Local
May 28—Read the transcript from our May 28 Talk-Line interview which featured Shaw Local News representatives Charlene Bielema and Brandon Clark discussing important news happenings including things to do to start the summer of 2025, an "Unsung Hero" in Sterling, redevelopment of Sterling properties, area court cases and the upcoming Reagan Run during the 2025 Dixon Petunia Festival. Like what you hear? Be sure to visit WIXN, part of Shaw Local Radio. We're also available on Apple Podcasts and Spotify.
Yahoo
3 days ago
- Business
- Yahoo
Wall Street's Rush to Launch Vanguard-Style Funds Draws Warnings
(Bloomberg) — Exchange-traded funds have amassed trillions of dollars by offering investors greater tax efficiency, liquidity and lower costs than mutual funds. Now, a looming regulatory shift is poised to bring the two vehicles closer together — and threatens to complicate the very features that fueled the ETF boom. NY Wins Order Against US Funding Freeze in Congestion Fight The US Securities and Exchange Commission is expected to approve applications for dual-share-class structures, perhaps as soon as this summer, allowing managers to add an ETF sleeve to an existing mutual fund. More than 50 firms, including BlackRock Inc. and State Street Corp., are waiting for the regulator's greenlight to deploy the hybrid structure — made possible after Vanguard Group Inc.'s exclusive patent expired two years ago. The two-in-one blueprint is a tantalizing prospect for asset managers looking to break into the ETF market at scale, without having to launch a new strategy from scratch. It also offers a lifeline to firms battered by years of mutual-fund outflows, as investors fled for more tax-efficient alternatives. The hybrid structure famously helped Vanguard save its clients billions in taxes over two decades. Yet replicating that playbook may prove harder than it looks. Some Wall Street experts caution the shake-up could erode key benefits of the wrapper, especially if hybrid funds face significant withdrawals during market stress. 'I've been in the ETF business for 20 years — we have spent it talking about how great they are at managing capital gains, and I don't think folks have an appreciation for how more ETFs could potentially end up paying capital gains distributions,' said Brandon Clark, director of ETF business at Federated Hermes, who previously led the ETF capital markets team at Vanguard. At the heart of the concern is a tax dynamic that ETFs were built to avoid. These funds rarely pay capital-gains tax distributions, thanks to their in-kind redemption process, which allows the issuer to swap securities with authorized participants rather than sell them outright. By contrast, mutual funds redeem in cash, meaning managers may need to sell securities to meet outflows. If those sales generate capital gains, they may distribute them to investors. In a hybrid vehicle, those taxable gains risk getting passed onto ETF shareholders, too. 'For mutual funds drawing inflows or net zero flows, there should be no issues, but for ones with outflows, there's a potential risk for the ETF holders,' said Bloomberg Intelligence senior ETF analyst Eric Balchunas, in a note. About two-thirds of ETF issuers surveyed by consulting firm Cerulli Associates flagged this spillover issue. There's precedent. In 2009, a Vanguard fund distributed a 14% capital gain across both share classes, after a large mutual-fund withdrawal, Bloomberg data show. Though rare, the episode underscores the fiscal complications in the event a fund experiences outsized outflows within a shared portfolio. 'The investors that stand to benefit most immediately are the ones that already own the fund, as it can only improve the fund's tax efficiency,' said Ben Johnson, head of client solutions at Morningstar Inc. Wirehouses like UBS Group Inc., which list funds for financial advisers, are studying how this would impact which funds they will offer on their platforms. An ETF share class could 'run the risk of receiving tax distributions they otherwise wouldn't have,' said Mustafa Osman, who runs due diligence on funds before they are added to the platform as head of ETF and mutual fund strategy and analytics at UBS. The SEC refers to this issue as 'cross-subsidization' and has directed applicants to detail how they'll mitigate it. In response, firms like Dimensional Fund Advisors have amended their applications to detail a governance structure where the fund works with its independent board to determine if the dual structure is beneficial to both shareholders, while monitoring risks like cross-subsidization before and after launch. Among issues that would be considered: cash levels, unrealized gains and losses, and turnover. Even standalone ETFs are paying out more capital gains more frequently these days, as more products track derivatives or assets that have risen markedly in value. In 2024, roughly 5% of passive ETFs paid out capital gains, the most since 2021, and 12% of active ones did, the highest since 2022, data compiled by Bloomberg show. Those figures are much larger for mutual funds, of course, with more than 50% paying them out last year. Another complication lies in how the structure would impact the economics of ETF listings on big-name platforms. Cerulli estimates wirehouses and broker-dealer platforms could lose as much as $30 billion in revenue if mutual fund assets shift to ETF share classes in droves. To stem the loss of revenue, intermediaries could begin to introduce revenue-sharing agreements with ETF issuers, which may ultimately raise costs for investors. 'This trend of trying to recapture some of that revenue that's been slowly melting from the mutual funds has been in place for ETFs for the last few years,' said Ben Slavin, global head of ETFs at BNY. Beyond fees and tax advantages, ETFs famously offer more liquidity than mutual funds — a selling point that may be undermined in some instances, if the two models are combined. According to Cerulli, ETFs that struggle to scale could see wider bid-ask spreads, with costs ultimately passed onto investors. All told, this is uncharted territory. Vanguard's success relied on stable flows, deep relationships with market makers and highly liquid portfolios. Large firms may be able to follow suit smoothly, but smaller managers holding less liquid assets could find the road ahead trickier. 'It's not evident that authorized participants are ready for a plethora of smaller ETFs as a share class exposures, especially outside the most liquid underlying markets,' Cerulli researchers wrote in a report. Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Why Apple Still Hasn't Cracked AI Inside the First Stargate AI Data Center How Coach Handbags Became a Gen Z Status Symbol ©2025 Bloomberg L.P.
Yahoo
24-05-2025
- Yahoo
Suspect in Sun City Center homicide arrested six month later: Deputies
The Brief A suspect in a Sun City Center homicide was arrested six months later. Deputies responded to the scene outside a community center, which is where they found an 18-year-old dead from a gunshot wound. The suspect now faces a slew of charges, including first-degree murder while engaged in a robbery. SUN CITY CENTER, Fla. - More than six months after a Sun City Center homicide, a suspect is behind bars facing several charges. The Hillsborough County Sheriff's Office said they arrested Malachi Higgs, 18, in connection with the death of Brandon Clark, 18. RELATED: Sun City Center shooting death under investigation: 'It's so scary' The backstory Deputies said they responded just before 10:45 p.m. on November 10, 2024, to the 7200 block of Camp Island Avenue after receiving reports of gunfire in the area. Once at the scene, deputies said they found Clark dead from a gunshot wound. At the time, detectives said they determined an altercation between a group of people led to gunfire outside the community center in that area. Dig deeper Detectives have since been investigating the case and said Higgs was identified as the suspect responsible for Clark's death. Follow FOX 13 on YouTube He was taken into custody on Friday on a slew of charges, which include first-degree murder while engaged in a robbery, robbery with a firearm or deadly weapon (less than $750), carrying a concealed firearm and minor in possession of a firearm, HCSO said. The Source The information in this story was released by the Hillsborough County Sheriff's Office. STAY CONNECTED WITH FOX 13 TAMPA: Download the FOX Local app for your smart TV Download FOX Local mobile app:Apple |Android Download the FOX 13 News app for breaking news alerts, latest headlines Download the SkyTower Radar app Sign up for FOX 13's daily newsletter
Yahoo
24-05-2025
- Yahoo
Suspected gunman arrested months after 18-year-old shot dead in Sun City Center
SUN CITY CENTER, Fla. (WFLA) — A suspected gunman has been arrested months after an 18-year-old was shot dead in Sun City Center, the Hillsborough County Sheriff's Office said. Deputies found Brandon Clark dead from a gunshot wound around 10:43 p.m. on Nov. 10, 2024, after receiving reports of gunfire near Camp Island Avenue. 'Pure evil': Lakeland man sets house on fire with roommates inside, Judd says Authorities said shots rang out that night after an 'altercation' at a community center in the area, and Clark was struck by the gunfire. After months of interviewing witnesses and neighbors to try to piece together what happened, and other extensive investigative efforts, the sheriff's office said it all pinpointed to one suspect. Malachi Higgs, 18, was taken into custody on May 23 on multiple charges. The charges against him include: Murder in the first degree while engaged in robbery Robbery with a firearm or deadly weapon less than $750 Carrying a concealed firearm Minor in possession of a firearm 'This arrest is the result of the tireless work by our detectives and a commitment to seeking justice,' said Hillsborough County Sheriff Chad Chronister. 'While nothing can undo the loss suffered by this young man's family, we hope this development brings a measure of closure.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
