Latest news with #Invesco
Bloomberg
41 minutes ago
- Business
- Bloomberg
Invesco's QQQ Gambit Seen Unlocking $150 Million in Revenue
Invesco Ltd.'s move to convert its famed tech fund QQQ into an open-ended structure could translate into a $150 million yearly windfall for the asset manager. Chief Financial Officer Allison Dukes said on the company's earnings call Tuesday that transforming the Invesco QQQ Trust Series 1 from a unit investment trust into an ETF could benefit net revenue and adjusted operating income by about four basis points — or roughly $150 million, Bloomberg Intelligence estimates. In its current format, Invesco sees virtually none of the fee revenue that QQQ generates, but ETF conversion would allow the firm to reorder the revenue breakdown.
CNA
12 hours ago
- Business
- CNA
CNA938 Rewind - Stock Take Today: Bessent's assurance on Powell, Japan markets post elections
On the daily markets analysis on Open For Business, Andrea Heng and Hairianto Diman speak with David Chao, Global Market Strategist from Invesco Asia Pacific.
Yahoo
16 hours ago
- Business
- Yahoo
Blackstone's $583M Paris Power Play Could Reignite Europe's Office Market Boom
Blackstone (NYSE:BX) is going big. The firm is lining up a 500 million ($583 million) loanthe largest of its kind since rates spiked in 2022to back its 705 million purchase of the Trocadero office complex in central Paris. It's a bold test of whether Europe's commercial real estate market is truly back in business. The loan, arranged by CBRE, would mark a turning point for a sector that had largely been frozen out of big-ticket transactions after interest rates shattered valuations and remote work cast a long shadow over office demand. Warning! GuruFocus has detected 4 Warning Signs with BX. But things may be shifting. Prime office rents in the Greater Paris region have jumped 14% in the past year to 1,170 per square meter. Leasing activity is also heating up in Frankfurt, where office take-up reached a record 366,000 square meters in the first half of 2025, according to BNP Paribas Real Estate. With supply tight and demand for top-tier space holding firm, institutional buyers are stepping back in. Blackstone beat out stiff competition for the Trocadero asset, and now others are following suit. Invesco is prepping a 1 billion sale of Capital 8 in Paris, while GIC and JPMorgan's asset arm are marketing Frankfurt's Opernturm for 900 million. This could be the start of something bigger. For nearly two years, the market has been stuck in a stalemate: sellers anchored to pre-rate-hike pricing, buyers waiting for capitulation. But now? Lenders are engaging again. Trophy buildings are trading hands. And with investors betting on long-term rent growth in gateway cities, deals like this one could be the spark that re-ignites Europe's commercial real estate engine. This article first appeared on GuruFocus. Sign in to access your portfolio
The Star
16 hours ago
- Business
- The Star
AI tailwinds lift as mid-caps take flight
Positive pivot: Trader Ed Curran (front) works on the floor at the New York Stock Exchange. The high-octane wager is that while President Trump is threatening to disrupt the economic order anew, he will step back from the brink. — AP NEW YORK: A cohort of the world's largest asset managers is leaning harder into the rally in risk assets as US stocks push to fresh highs, defying persistent trade and geopolitical tensions. Firms such as Invesco Ltd, Fidelity International Ltd and JPMorgan Asset Management are reinforcing bullish bets across technology shares from the United States to Asia as well as on emerging market assets. The high-octane wager is that while President Donald Trump is threatening to disrupt the economic order anew, he will step back from the brink. That's helping justify risk exposure at a time when valuations are stretched and macro headwinds persist. In a market that rewards conviction and punishes caution, sitting out is starting to look like the riskiest position of all. 'People have really bought into this belief that there is a Trump put, that if markets correct or if US interest rates go up, Trump will back off as he did in April. That trade is on,' said Chang Hwan Sung, a multi-asset portfolio manager in Invesco's investment solutions team in Hong Kong. 'As we navigate through this uncertainty, we are likely to become more pro-risk.' This shared conviction isn't just a general sense of optimism, it's a calculated bet that the inherent volatility of a second Trump term will ultimately yield to economic pragmatism. For these global fund managers, that translates directly into a still-resilient outlook for international trade and supply chains, powering everything from Indonesian local currency bonds and South Korean chipmakers to US growth stocks. Invesco has boosted its US equity allocation ahead of second quarter corporate earnings, which it anticipates will provide further support for stocks, Chang said. And while the asset manager is 'overweight' on US stocks, it sees even better prospects elsewhere. 'From what I see happening across the globe, we are very likely to be a bit more tilted towards non-US markets such as Europe and emerging markets,' Chang said. Invesco sees medium-term opportunities in South Korea due to optimism over the government's corporate governance reforms. The nation's benchmark Kospi index has already gained more than 30% this year, making it one of the world's best-performing major equity gauges. Invesco is also adding to holdings of local currency emerging market bonds in its cross-asset portfolios as it sees these deriving the most gain from expected US interest rate cuts, Chang said. 'For fixed income, we like high yielders like Indonesia and other high interest rate countries because they will probably benefit the most,' he said. Fidelity favours shares in Taiwan due to the island's high concentration of technology firms, while it likes South Korean stocks for their inexpensive valuations. 'Taiwan is probably one of the best value ways to play the tech cycle upswing, and we see a good case for being overweight,' said Ian Samson, a multi-asset fund manager at the money manager in Singapore. 'If you look at GPU exports from Taiwan, they're just off the charts, it's incredible,' he said, referring to graphics processing units (GPU), a type of chip used to process digital images. Fidelity isn't universally positive on risk assets. The firm's cross-asset portfolios are turning bearish on investment-grade and high-yield US corporate bonds due to their low differential to treasury yields and are buying gold as a hedge, Samson said. AI Tailwind JPMorgan Asset said medium-sized US tech stocks still have room to gain due to the market's optimism over artificial intelligence (AI). The tailwinds of AI demand will offer further support for mid-cap tech stocks in the United States, said Kerry Craig, an investment strategist at the company in Melbourne. — Bloomberg
CNBC
20 hours ago
- Business
- CNBC
During earnings season, two ETFs may signal how bullish investors feel about U.S. economy and consumer
Concerns about the consumer are still running high on Wall Street, even after the market's big comeback to a new record from the tariff-triggered downturn of April. While the worst fears about Trump's trade policies and inflation have not come to pass, Goldman Sachs is among Wall Street firms expecting a growth slowdown and a more cautious consumer ahead. As earnings season picks up, one simple market gauge on how bullish or bearish investors are on the consumer can be found in the performance of consumer discretionary and consumer staples ETFs. As Todd Sohn, senior ETF and technical analyst at Strategas Asset Management explained it on a recent CNBC "ETF Edge" podcast, "If discretionary is outperforming, that means auto, retails, homebuilders, are working against toothpaste and toilet paper. Adversely, if the staples are outperforming, that means the market does not like the earnings and would suggest a more defensive tone," said. Into earnings season, consumer discretionary ETFs have outperformed consumer staples. Over the past month, top consumer discretionary ETFs have outperformed consumer staples funds, such as the First Trust Consumer Discretionary AlphaDEX ETF (FXD ) and Fidelity MSCI Consumer Discretionary Index ETF (FDIS ). Looking at the oldest and broadest consumer funds in the ETF space, within the Select Sector SPDR family that tracks all of the major sectors within the S&P 500 on a stand-alone basis, there's been a reversal in performance of late. The Consumer Staples Select Sector SPDR (XLP ) is up 4% this year but only 1% in the past month. The Consumer Discretionary Select Sector SPDR (XLY ), meanwhile, is up over 5% during the past month while trailing staples year-to-date. The recent outperformance of discretionary continued through the first week of earnings season. Some of the top consumer staples ETFs in recent trading, meanwhile, have been narrower in focus, such Invesco's small-cap consumer staples ETF (PSCC ) and the Invesco's equal-weighted S&P 500 consumer staples portfolio (RSPS ) which stands out from the market-weighted XLP.
