Element Capital Management, led by Jeff Talpins, held approximately $2 billion in S&P 500 ETFs at the end of September. This included a $954 million stake in the Vanguard S&P 500 ETF and about $1 billion in the iShares Core S&P 500 ETF. Following the Nov. 5 election, the S&P benchmark rose 3.5%.
U.S. markets surged post-election, with the S&P 500 closing above 6,000 and the Dow surpassing 44,000 for the first time. Bitcoin also hit a record high of $88,684, while analysts caution that the rally may be overextended, urging investors to remain prudent and diversified amid uncertainty.
Asia-Pacific markets mostly declined as the U.S. postelection rally failed to boost regional sentiment. Softbank Group is set to report a profit of 286.8 billion yen for Q2, reflecting over 100% year-on-year growth, while Australian consumer sentiment rose 5.3% in November amid easing financial pressures. Chinese markets are under scrutiny following a disappointing debt swap program, prompting investors to adopt a long-term perspective. Meanwhile, the iShares Bitcoin Trust ETF has surpassed the iShares Gold Trust in assets under management, marking a significant milestone in the crypto space.
Investors withdrew significant funds from Chinese stock ETFs following Donald Trump’s election victory, raising concerns over potential tariffs. The iShares China Large-Cap ETF (FXI) experienced $315 million in outflows, while the iShares MSCI China ETF (MCHI) saw $280 million withdrawn, marking a continued trend of withdrawals after earlier inflows.
BlackRock has invested over $1.9 billion into the iShares MSCI USA Momentum Factor ETF (MTUM) following the election, marking the largest one-day inflow since the fund's inception in 2013. Concurrently, a record $1 billion was withdrawn from the iShares Core Total USD Bond Market ETF (IUSB). A spokesperson confirmed that the firm revised its model portfolio allocations last week.
President-elect Donald Trump's commitment to positioning the US as a leader in the digital-asset sector is transforming the crypto landscape. This shift has propelled Bitcoin to a record high, significantly widened its performance gap over gold since 2022, and led to unprecedented trading volumes at the largest Bitcoin ETF.
Investors withdrew significant funds from emerging-market bond ETFs in October, driven by heightened risk aversion ahead of the uncertain US election. The iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB) experienced $732 million in outflows, marking its largest monthly loss since March, while the Invesco Emerging Markets Sovereign Debt ETF (PCY) saw $78 million in outflows.
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