Break from the Grind August 3, 2017

A Little Friday File Fun

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In Templin, Germany, a court has ruled that local authorities are entitled to prevent a group calling itself the Church of the Flying Spaghetti Monster from advertising its “noodle Masses” at the entrance to town. According to the Associated Press, it’s standard practice in Germany for small signs at the entrance to towns to announce there’s a Lutheran or Catholic church and detail when it holds services. News agency dpa reported that the court ruled the group can’t claim the rights of a religious or philosophical community, and judges said its criticism of others’ beliefs doesn’t constitute a philosophy.

In Pelham, New Hampshire, witnesses reported a car crash and the car was burning. However, when police and firefighters arrived, the driver refused to get out of the car, telling officers he was a mechanic. Police dragged him out. He was later charged with driving under the influence.

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In Wuhan, China, a woman took drastic measures to avoid paying back 25 million yuan ($3.71 million) of personal debts. News agency Xinhua said the woman fled to the southeastern Chinese city of Shenzhen after a court ordered her to pay off her debt. There she underwent plastic surgery to transform her appearance. Police caught up with her, and the news report cites a police officer as saying, “We were very surprised at the scene. She looked in her thirties and was different from the photos we had.”

In McIntire, Iowa, a special election was held Tuesday asking whether the term of the mayor should be raised to four years from two, and whether the terms of council members should be raised to four years, staggered, from two years. However, a decision is not known since not one of the town’s 70 registered voters turned out to vote. A Mitchell County deputy auditor told the Mason City Globe Gazette this is a first in her 28 years of service.

In Ile de Re, France, people can now get fresh oysters from a vending machine. An oyster farmer’s automatic dispenser of live oysters offers a range of quantities, types and sizes 24 hours a day, seven days a week. The refrigerated dispenser has glass panels so customers can see what they are buying. Customers use their bank card for access, opening the door of their choice from a range of carton sizes and oyster types. The oyster breeder sees it as an extra source of revenue. “We felt as though we were losing lots of sales when we are closed,” he said, according to Reuters.

This hamster’s cage-mate throws off him off his game when joining him on the running wheel.

If you can't view the below video, try https://youtu.be/mt084vYqbnY

I think this father was too into his video game.

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When no one will scratch the dog.

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Products August 3, 2017

Investment Products and Services Launches

Deutsche and Fidelity cut fund expenses; Transamerica debuts smart beta ETFs; and Vanguard adds TimeSquare Capital to advisory team.
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Deutsche AM Slashes Mutual Fund Expenses

Deutsche Asset Management (Deutsche AM) has reduced the net expense ratios of its suite of U.S.-domiciled global and emerging markets mutual funds, as well as management fee reductions on certain funds.

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Deutsche Emerging Markets Equity Fund – Class I dropped its expense ratio from 1.40 basis points to .90 basis points. The Deutsche Emerging Markets Equity Fund – Class I cut its expense ratio from 1.07 basis points to .87 basis points.

Deutsche notes the expense reductions bring the average net expense ratios of these funds to the lowest cost quartile in their respective Morningstar categories.

“We are committed to bringing Deutsche Asset Management’s international capabilities and unique global perspective to investors in the Americas,” says Brian Binder, president of Deutsche Funds and head of U.S. Product & Fund Administration. “With the European and emerging markets in the early stages of the growth cycle, and many investors overweight in U.S. equities, clients are looking for investment opportunities overseas. Because expense ratios can have a direct impact on performance, we are pleased to introduce these reductions as clients seek to diversify their portfolio across a wider world of international markets.” 

NEXT: Fidelity Cuts Expenses on Mutual Funds

Fidelity Cuts Expenses on Mutual Funds

Fidelity Investments has reduced the total expenses on 14 of its stock and bond mutual funds. The firm says average expenses across this lineup have dropped to 9.9 basis points, from 11.0 basis points recorded before the shift which went into effect August 1, 2017.

"We believe we have an index value proposition unsurpassed in our industry," says Colby Penzone, senior vice president for Fidelity’s Investment Product Group. "When you combine low expenses with our award-winning online brokerage platform, mobile applications, more than 190 Investor Centers in the U.S., and live 24/7 customer service via phone, we believe Fidelity provides the best customer experience and value in the industry."

For a list of funds with reduced expenses, visit Fidelity.com.

NEXT: Transamerica Debuts Smart Beta ETFs

Transamerica Debuts Smart Beta ETFs

DeltaShares by Transamerica is a suite of strategic beta exchange-traded funds (ETFs) designed to provide core equity strategies with an embedded risk-management feature. Transamerica Asset Management says DeltaSahres is the first ETF suite to track the S&P Managed Risk 2.0 Index Series. It was built to provide investors with the ability to track the performance of a given segment of the equity market, while seeking to control volatility.

"Through a combination of stocks, U.S. Treasury Bonds, and cash, these DeltaShares ETFs will seek to optimize the most appropriate combination of these investment choices through a rules-based methodology based on stock market volatility trends,” says Tom Wald, chief investment officer for Transamerica Asset Management.

The suite includes the DeltaShares S&P 500 Managed Risk ETF, which tracks the S&P 500 Managed Risk 2.0 Index. It’s designed to measure U.S. large-cap equities using a managed risk strategy seeking to limit losses and capture the upside in rising markets.

The DeltaShares S&P 400 Managed Risk is designed to measure U.S. mid-cap equities, and The DeltaShares S&P 600 Managed Risk ETF is built to measure U.S. small-cap equities.  

Meanwhile, the DeltaShares S&P International Managed Risk ETF tracks the S&P EPAC Ex. Korea LargeMidCap Managed Risk 2.0 Index. It focuses on broad international developed markets.

Milliman Financial Risk Management, a Chicago-based SEC-registered investment adviser, will act as sub-adviser to the suite. 

NEXT: Vanguard Adds TimesSquare Capital to Advisory Team

Vanguard Adds TimesSquare Capital to Advisory Team

TimesSquare Capital Management has joined Vanguard’s advisory team running the Vanguard International Explorer Fund. The firm will join Schroder Investment Management North America and Wellington Management Company in overseeing the $3.4 billion small- and mid-cap international equity fund.

“Vanguard continuously scours the globe for world-class investment talent, forging relationships with firms that bring particular expertise and experience to specific mandates,” says Vanguard CEO Bill McNabb. “Our long-term approach and in-depth engagement with firms ensures strong and stable advisory teams that offer differentiated, but complementary investment approaches to the benefit of our clients. We welcome TimesSquare as a valuable addition to our talented roster of investment management partners.”

The fund seeks to provide long-term capital appreciation by investing in smaller companies that are expected to grow at a faster rate than the overall market. These firms primarily are based in the developed European and Pacific markets. Vanguard says the investment objective and principal investment strategies of the fund will remain the same, and the expense ratio of 0.41% is not expected to change.

Following the transition, TimesSquare Capital will initially manage less than 5% of the fund with its allocation expected to grow in the future. Schroders, which has managed the fund since its inception in 1996, will oversee approximately 66% of the fund. Wellington, which was added as an adviser in 2010, will manage approximately 29% of the fund with the remainder in equitized cash investments.

The TimesSquare Capital sleeve of the fund will be headed by portfolio manager and senior vice president Magnus Larsson. With more than 22 years of investment experience, Larsson leads the firm’s international small-cap team comprised of four additional investment analysts and two traders.

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Break from the Grind July 13, 2007

A Little Friday File Fun

July 13, 2007 (PLANSPONSOR.com) - They say that a picture is worth a thousand words....
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Well, here’s a couple of thousand:

What is it?  http://home.pacbell.net/bettychu/verissa.jpg

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– – – In Meadville, Pennsylvania, the wrecking ball from a crane on the campus of Allegheny College here broke loose – – – rolled down North Main Street , slamming into a number of cars like a monster pinball – – – before finally coming to a rest – – – you can see how/where at http://www.theage.com.au/ffximage/2007/07/10/ball_main_wideweb__470x304,0.jpg

– – – In Eltham, New Zealand , thieves broke into Aland White’s garage here – – – apparently trying to steal some gasoline from his car – – – however, they apparently had some difficulty with the siphoning in the dark – – – and tried to shed some light on the situation – – – with a cigarette lighter – – – with what can best be described as – – – predictable results – – – those results are online at http://www.stuff.co.nz/images/308739.jpg

– – – And finally, in Manchester, New Hampshire , James Coldwell, 49, was drinking a cup of coffee last Saturday morning – – – when he decided that he should rob a bank – – –   so he strolled into the downtown Citizens Bank here and walked away with $1,000 – – – clad in a unique disguise – – – a shroud of tree branches, all duct-taped to his shirt and head (it was a last minute decision, after all) – – – when he got outside, he heard a pop – – – and saw red smoke coming from a dye pack in the bag – – – so he dropped the loot and, after removing his disguise and putting the branches in his car – – – drove away empty-handed – – – of course, James’ short, dark hair and mustache were clearly visible between the leaves on a surveillance camera- – – and since he lived less than a mile from the bank, he was quickly apprehended – – – you can see his “outfit” at http://www.unionleader.com/uploads/media-items/2007/july/708a1bank2.jpg

Products August 3, 2017

Investment Products and Services Launches

Deutsche and Fidelity cut fund expenses; Transamerica debuts smart beta ETFs; and Vanguard adds TimeSquare Capital to advisory team.
Reported by

Deutsche AM Slashes Mutual Fund Expenses

Deutsche Asset Management (Deutsche AM) has reduced the net expense ratios of its suite of U.S.-domiciled global and emerging markets mutual funds, as well as management fee reductions on certain funds.

Never miss a story — sign up for PLANSPONSOR newsletters to keep up on the latest retirement plan benefits news.

Deutsche Emerging Markets Equity Fund – Class I dropped its expense ratio from 1.40 basis points to .90 basis points. The Deutsche Emerging Markets Equity Fund – Class I cut its expense ratio from 1.07 basis points to .87 basis points.

Deutsche notes the expense reductions bring the average net expense ratios of these funds to the lowest cost quartile in their respective Morningstar categories.

“We are committed to bringing Deutsche Asset Management’s international capabilities and unique global perspective to investors in the Americas,” says Brian Binder, president of Deutsche Funds and head of U.S. Product & Fund Administration. “With the European and emerging markets in the early stages of the growth cycle, and many investors overweight in U.S. equities, clients are looking for investment opportunities overseas. Because expense ratios can have a direct impact on performance, we are pleased to introduce these reductions as clients seek to diversify their portfolio across a wider world of international markets.” 

NEXT: Fidelity Cuts Expenses on Mutual Funds

Fidelity Cuts Expenses on Mutual Funds

Fidelity Investments has reduced the total expenses on 14 of its stock and bond mutual funds. The firm says average expenses across this lineup have dropped to 9.9 basis points, from 11.0 basis points recorded before the shift which went into effect August 1, 2017.

"We believe we have an index value proposition unsurpassed in our industry," says Colby Penzone, senior vice president for Fidelity’s Investment Product Group. "When you combine low expenses with our award-winning online brokerage platform, mobile applications, more than 190 Investor Centers in the U.S., and live 24/7 customer service via phone, we believe Fidelity provides the best customer experience and value in the industry."

For a list of funds with reduced expenses, visit Fidelity.com.

NEXT: Transamerica Debuts Smart Beta ETFs

Transamerica Debuts Smart Beta ETFs

DeltaShares by Transamerica is a suite of strategic beta exchange-traded funds (ETFs) designed to provide core equity strategies with an embedded risk-management feature. Transamerica Asset Management says DeltaSahres is the first ETF suite to track the S&P Managed Risk 2.0 Index Series. It was built to provide investors with the ability to track the performance of a given segment of the equity market, while seeking to control volatility.

"Through a combination of stocks, U.S. Treasury Bonds, and cash, these DeltaShares ETFs will seek to optimize the most appropriate combination of these investment choices through a rules-based methodology based on stock market volatility trends,” says Tom Wald, chief investment officer for Transamerica Asset Management.

The suite includes the DeltaShares S&P 500 Managed Risk ETF, which tracks the S&P 500 Managed Risk 2.0 Index. It’s designed to measure U.S. large-cap equities using a managed risk strategy seeking to limit losses and capture the upside in rising markets.

The DeltaShares S&P 400 Managed Risk is designed to measure U.S. mid-cap equities, and The DeltaShares S&P 600 Managed Risk ETF is built to measure U.S. small-cap equities.  

Meanwhile, the DeltaShares S&P International Managed Risk ETF tracks the S&P EPAC Ex. Korea LargeMidCap Managed Risk 2.0 Index. It focuses on broad international developed markets.

Milliman Financial Risk Management, a Chicago-based SEC-registered investment adviser, will act as sub-adviser to the suite. 

NEXT: Vanguard Adds TimesSquare Capital to Advisory Team

Vanguard Adds TimesSquare Capital to Advisory Team

TimesSquare Capital Management has joined Vanguard’s advisory team running the Vanguard International Explorer Fund. The firm will join Schroder Investment Management North America and Wellington Management Company in overseeing the $3.4 billion small- and mid-cap international equity fund.

“Vanguard continuously scours the globe for world-class investment talent, forging relationships with firms that bring particular expertise and experience to specific mandates,” says Vanguard CEO Bill McNabb. “Our long-term approach and in-depth engagement with firms ensures strong and stable advisory teams that offer differentiated, but complementary investment approaches to the benefit of our clients. We welcome TimesSquare as a valuable addition to our talented roster of investment management partners.”

The fund seeks to provide long-term capital appreciation by investing in smaller companies that are expected to grow at a faster rate than the overall market. These firms primarily are based in the developed European and Pacific markets. Vanguard says the investment objective and principal investment strategies of the fund will remain the same, and the expense ratio of 0.41% is not expected to change.

Following the transition, TimesSquare Capital will initially manage less than 5% of the fund with its allocation expected to grow in the future. Schroders, which has managed the fund since its inception in 1996, will oversee approximately 66% of the fund. Wellington, which was added as an adviser in 2010, will manage approximately 29% of the fund with the remainder in equitized cash investments.

The TimesSquare Capital sleeve of the fund will be headed by portfolio manager and senior vice president Magnus Larsson. With more than 22 years of investment experience, Larsson leads the firm’s international small-cap team comprised of four additional investment analysts and two traders.

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