The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:What Does President Trump Mean For Fundsters? Not Rated 5.0 Email Routing List Email & Route  Print Print
Wednesday, November 9, 2016

What Does President Trump Mean For Fundsters?

News summary by MFWire's editors

The 2016 presidential race is over, and now it's time for fundsters (and everyone else) to figure out what that means.

Real estate mogul Donald Trump has been elected the next president of the United States, and Wall Street is already reacting even before the NYSE opens for trading this morning. Headlines so far include: "Stock Futures Plunge as Donald Trump Posts Surprising Win", "Longer-Dated Bonds Fall on Trump Spending Bet", "As Markets Plunge, Traders Left 'In Shock' By Trump Success", and "Trump's Surprise Ends Election, Begins Uncertainty for Markets", all in the Wall Street Journal; "Stocks, futures and currencies roiled by U.S. presidential election result" in Pensions & Investments; "Victorious Donald Trump Is the Devil Wall Street Doesn't Know" in Bloomberg; and "Be Very Scared for Your 401(k) Right Now", Mother Jones.

Barbara Roper
Consumer Federation of America
Director of Investor Protection
Dale Brown, president and CEO of the Financial Services Institute (FSI) (a trade group for independent broker-dealers and advisors), issued a statement early this morning congratulating President-Elect Trump while reiterating his concerns with maintaining Americans' "access to objective and affordable financial advice."

Bill Katz, Citi's high-profile analyst covering asset managers, says that Trump's victory has "mixed short to intermediate implications" for asset managers and broker-dealers. He lays out some possible "wildcards" to pay attention to in the coming weeks and months (like what happens to taxing carried interest and who Trump picks for his cabinet). Yet Katz says he's making "no change in strategy for now" and stands behind global asset managers as "structural winners," despite worries about Trump's protectionist policies. Katz's favored post-Trump victory asset manager picks are AMG [profile], BlackRock [profile], and AB [profile].

For fundsters and others connected to the wealth management and retirement plan industries, Trump's victory also mean pushing reset on what was supposed to be a gigantic regulatory change next year: the Department of Labor's controversial, impending fiduciary regulation (scheduled to start taking effect in April). Barbara Roper, director of investor protection at the Consumer Federation of America, tells Financial Planning that "the rule could be in jeopardy." Indeed, last month Trump advisor Anthony Scaramucci called for the repeal of the impending reg and comparing it to the 1857 Dred Scott Supreme Court case that infamously upheld slavery.

Famed Nuveen [profile] investing guru Bob Doll reminds investors that in early 2016 he and his team "predicted that Republicans would win the White House and retain control of Congress." Doll's take on Trump's victory includes a "lack of clarity" as to what happens next. Doll sees the rise of Trump as indicative of a national mood "shift from hope to anger," and Doll predicts "a push toward more protectionist positions," as well as fiscal stimulus and corporate tax reform.

Janus [profile], in an unsigned note on Trump's victory, muses that "a trump administration may foster growth" and argues that the President-Elect's "promise to abolish" Obamacare will not be feasible. Janus also predicts that the Federal Reserve is now less likely to raise interest rates next month.

Bill Stone, chief investment strategist at PNC Asset Management [profile], cautions everyone not to get too freaked out about the markets today: "the day after the election, market activity is not very instructive for longer-term returns."  

Edited by: Neil Anderson, Managing Editor

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

  1. WE Pacific NW - Year-End Holiday Social and Chapter Leadership Drive, December 5
  2. WE South - A Deep Dive Into the Offshore Ecosystem, December 6
  3. MFDF webinar - Unique Oversight Considerations For ETFs, December 6
  4. Stradley Ronon's Financial Services Regulatory Workshop, December 6
  5. MMI webinar - From an Idea to a Movement: Choosing Self-Confidence + Finding Our Strengths, December 7
  6. SEC Investor Advisory Committee Meeting, December 7
  7. MMI webinar - Make Your Money Work For You, December 12
  8. MFDF In Focus: Impacts of SCOTUS Affirmative Action Decision on Fund Boards and Industry Diversity Efforts, December 12
  9. P&I Best Places to Work In Money Management - The Future of Asset Management, December 12
  10. MFDF webinar - Investment Valuation and Governance: Deloitte's 21st Annual Fair Valuation Pricing Survey, December 13
  11. MFDF Director Discussion Series - Open Forum via Zoom, December 14
  12. MFDF 2024 Directors' Institute, January 22 - 24, 2024
  13. 2024 ICI Innovate, February 6 - 8, 2024
  14. The Advyzon Conference, February 20 - 22, 2024
  15. Raymond James 2024 Annual Shareholders Meeting, February 22, 2024
  16. MFDF 2024 Fund Governance & Regulatory Insights Conference, March 7 - 8, 2024
  17. Nicsa 2024 Strategic Leadership Forum, March 13 - 15, 2024
  18. 2024 MMI Summit, March 13 - 14, 2024
  19. Women In ETFs 10-Year Anniversary Celebration, March 14, 2024
  20. Wealth Management Edge 2024, May 13 - 16, 2024
  21. MFDF Conference of Fund Leaders Forum, June 5, 2024
  22. MFDF Director Discussion Series - Open Forum (Philadelphia), June 20, 2024
  23. Morningstar Investment Conference Conference 2024, June 26 - 27, 2024
  24. 2024 MMI Annual Conference, October 15 - 17, 2024

©All rights reserved to InvestmentWires, Inc. 1997-2023
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use