Latest news with #PurposeInvestmentsInc
Yahoo
4 days ago
- Business
- Yahoo
Trump Tariffs Are Making International Stock Markets Great Again
(Bloomberg) -- US President Donald Trump's tariffs are giving international stocks a serious lift and at the same time helping to end the S&P 500 Index's run of global dominance — at least for now. All Hail the Humble Speed Hump Three Deaths Reported as NYC Legionnaires' Outbreak Spreads Mayor Asked to Explain $1.4 Billion of Wasted Johannesburg Funds Major Istanbul Projects Are Stalling as City Leaders Sit in Jail What England's New National Cycling Network Needs to Get Rolling International stock markets are on pace to outperform the broad US equities benchmark this year, the first time they've done that since 2022, and the first time in a rising market since 2009. Fears that tariffs and trade uncertainty will have an outsized impact on Corporate America's earnings growth are the primary culprit. The MSCI World Index excluding the US is clobbering the S&P 500 in 2025, jumping 18% thus far versus a more modest 7.8% gain in the S&P 500. You can see why in the individual performances. Mexico's key stock market index is up 18% this year, Canada's is up 12%, Germany's 21%, Spain's 26%, Brazil's 14%, and the UK's 11%. It's a sharp reversal from years of soaring gains for US equities, spurred most recently by mega-cap technology companies and the promise of artificial intelligence, and relatively sluggish performances by their global peers. This has left stocks in markets outside of the US relatively cheap. 'Sometimes the biggest gains come from the fixer-upper opportunities,' Craig Basinger, chief strategist at Purpose Investments Inc, said in an interview. The valuation gap between US and international markets is 'historically wide,' and investors are largely over-invested in the US and under-invested in other markets, according to Basinger. That trend has been reversing this year, and it could accelerate as Trump's tariffs come into effect this month, while trading partners in Canada, Europe, Japan and elsewhere embark on investor-friendly reforms and boost domestic growth, he said. 'Rate of change matters in markets, and it would appear that international markets, generally speaking, are becoming a bit more investor friendly,' Basinger said. 'America is still the gold standard, but if the gap narrows, so could the valuation gap.' An 'ultra-low growth' earnings outlook that has been baked into European and Japanese stocks for years also is starting to change, according to David Lambert, managing director, senior portfolio manager and head of European equities at RBC Global Asset Management. 'We're actually in an era now where earnings growth could be incrementally higher for the medium term,' Lambert said. 'There's no reason why you can't see a gentle rerating in the coming years even further from where we are today.' He's not alone in that opinion. A June survey by BofA Securities found that 54% of the fund managers who responded expect international stocks to be the best-performing asset in the next five years. Just 23% held that view on US equities. The reason is Trump's tariffs, which are expected to hit Corporate America's earnings harder than companies in Europe or Japan, said David Groman, a director on Citi Research's global equity strategy team. Europe in particular is leading in value and momentum performance, according to a Citi note to clients on Wednesday. 'There is more clarity and investors have this ability to at least pencil in what they think the earnings impact will be in a place like Europe or Japan,' Groman said in an interview. Markets like Europe have already priced in a bad outcome on tariffs, and it may actually turn out to be better than expected, he added. To be sure, some strategists see pain in the US potentially spilling over into other markets around the world. Emily Roland and Matthew Miskin, co-chief investment strategists at Manulife John Hancock, caution against holding low-quality, cyclical international stocks in this kind of environment. 'Every other time in history if the US sees a recession, it has brought the rest of the world down with it,' they wrote in a recent note to clients. Still, the rotation from US stocks and into international equities could end up being 'a very long' story, Purpose's Basinger said. 'People just have too much US right now,' he said. The Pizza Oven Startup With a Plan to Own Every Piece of the Pie Digital Nomads Are Transforming Medellín's Housing Russia's Secret War and the Plot to Kill a German CEO It's Only a Matter of Time Until Americans Pay for Trump's Tariffs The Game Starts at 8. The Robbery Starts at 8:01 ©2025 Bloomberg L.P.
Yahoo
27-05-2025
- Business
- Yahoo
Purpose Investments Inc. Announces Final May 2025 Distribution Rate for Purpose High Interest Savings Fund, Purpose US Cash Fund, Purpose Cash Management Fund, and Purpose USD Cash Management Fund
TORONTO, May 27, 2025 (GLOBE NEWSWIRE) -- Purpose Investments Inc. announced today the final May 2025 distribution rates for Purpose High Interest Savings Fund, Purpose US Cash Fund, Purpose Cash Management Fund, and Purpose USD Cash Management Fund. The following table reflects the final distribution amounts for the month of May. Ex-distribution date is May 28, 2025. Open-End Fund Ticker Symbol Final distribution per unit Record Date Payable Date Distribution Frequency Purpose USD Cash Management Fund – ETF Units MNU.U US $0.3531 05/28/2025 06/03/2025 Monthly Purpose Cash Management Fund – ETF Units MNY $0.2373 05/28/2025 06/03/2025 Monthly Purpose High Interest Savings Fund – ETF Units PSA $0.1070 05/28/2025 06/03/2025 Monthly Purpose US Cash Fund – ETF Units PSU.U US $0.3495 05/28/2025 06/03/2025 Monthly About Purpose Investments Inc. Purpose Investments Inc. is an asset management company with more than $23 billion in assets under management. Purpose Investments has an unrelenting focus on client-centric innovation, and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent technology-driven financial services company. For further information please contact:Keera Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently and past performance may not be in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
