Products July 6, 2017

Investment Products and Services Launches

BlackRock moving listing venue for 50 iShares ETFs, and Nuveen enters closed-end fund merger.

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BlackRock Moves Listing Venue for 50 iShares ETFs

BlackRock announced it will transition the primary listing venue for 50 iShares exchange-traded funds (ETFs) to Bats Global Markets, the global stock exchange operator based in Lenexa, Kansas.

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“As we have stated previously, diversification is an important element of iShares listing strategy,” explains Samara Cohen, Americas head of iShares capital markets at BlackRock. “A thriving market for ETFs requires a robust, resilient ecosystem, with multiple participants committed to continuous innovation and improving the client experience.”

BlackRock says it maintains strong relationships with all major exchanges, and its “applauds NYSE ARCA, BATS and Nasdaq for their ongoing work to improve trading during all market conditions.”

The funds are scheduled to move on or about August 1, 2017.

For more information, visit BlackRock.com.

NEXT: Nuveen Enters Closed-End Fund Merger

Nuveen Enters Closed-End Fund Merger

Shareholders of the Diversified Real Asset Income Fund have approved the fund’s reorganization with and into the Nuveen Real Asset Income and Growth Fund. 

Subject to the satisfaction of certain customary closing conditions, the reorganization is expected to become effective immediately before the open of business on September 11, 2017.  

Nuveen and the closed-end funds managed by Nuveen and its affiliates undertake no responsibility to update publicly or revise any forward-looking statement.

Data and Research July 6, 2017

Employees Want a Full Suite of Benefits

This is prompting employers to ask their benefits brokers for new and innovative solutions.
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Sixty-five percent of employers are asking their broker or consultant to recommend new and innovative benefits solutions, MetLife found in its 15th annual employee benefit trends study, “Work Redefined: A New Age of Benefits.” Because employees are changing jobs more often, employers are hoping that enhanced benefits will keep staff in their employ longer.

The survey found that forty-nine percent of employees are anxious about their financial well-being, and 40% would like their employer to provide financial security. Twenty-three percent say they are less productive at work because of financial worries. Fifty-eight percent of employees want customized benefit options, and 43% expect to delay their retirement due to their financial situation.

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Sixty percent of employees worry about money. Only 27% are happy with their progress in paying down student debt, and only 32% think they are doing a good enough job of saving for their children’s education.

Forty-nine percent of employees want programs that reward healthy behavior, but only 8% of employers offer such a program. Sixty-two percent of employees want portable benefits. Sixty percent of employees want parental leave to include both partners.

Fifty-nine percent of employees say that if health and wellbeing benefits were offered to them, they would be more loyal to their employer, and another 53% say that of financial planning programs. Seventy-four percent say that of flexible work hours, 72% of customized benefits and 66% of the ability to work from home.

NEXT: The Employer’s Perspective

Employers tend to agree with employees’ belief that they have a responsibility to help them with their financial lives; 73% believe they have a responsibility for their employees’ health and well-being of their employees. Sixty-four percent of employers believe that their benefits can help employees make better financial decisions, and 80% think benefits can increase employee satisfaction.

Eighty-eight percent think financial wellness benefits can boost employee productivity, and 75% think they will result in employees working longer hours. Seventy-eight percent think that benefits overall can increase employee loyalty, and 73% think they can attract employees.

The top five benefits employers think they must offer are health insurance (88%), prescription drug coverage and a 401(k) or other retirement plan (both tied at 72%), auto insurance (68%), dental insurance (68%) and home insurance (62%).

“It is important for employers to ensure that they offer the benefits that employees need, even if the company doesn’t pay for them,” MetLife says. “Offering a benefits experience that provides a range of support shows employees that their goals—in and out of work—are understood. Getting to know the needs of employees can help employers decide on the right mix of benefits options.”

MetLife also says employers should make enrolling in benefits easier for their employees.

Metlife’s report was conducted by ORC International last October and November among 2,504 company benefits executives and 2,652 employees. The full report can be downloaded here.

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