Fund manager AUM can rise while clients take money out
Assets under management, client flows and fee revenue answer different questions. Recent T. Rowe Price, BlackRock and Invesco disclosures show why the distinction matters.
Articles About Invesco (IVZ - NYSE) Stock
Bond ETF discounts: what the price gap actually measures
A bond ETF price below net asset value can reflect dealing costs, selling pressure or a valuation catching up. The gap alone cannot tell the story.
ETF tracking difference: the return gap beyond the annual charge
Tracking difference measures a return gap; tracking error measures its variability. Neither is a second fee, and both need a consistent benchmark.
Equal-weight indices change concentration. What else changes?
The same company list can produce different exposure. Equal weighting changes dependence on the largest holdings, rebalancing and the business of providing index funds.
An ETF priced in pounds can still carry overseas currency risk
The trading currency, underlying holdings and hedge answer different questions. A worked example shows why the pound sign on a dealing screen cannot settle an ETF’s currency risk.