Wellington’s Andrew J. Shilling and Clark R. Shields, sub-advisers to the Vanguard U.S. Growth Fund, talk about investing in companies with secular growth and competitive advantages in this episode of Bloomberg Intelligence’s Inside Active podcast. Host David Cohne, BI mutual fund analyst, and co-host Gina Martin Adams, BI chief equity strategist, spoke with Shilling and Shields about how they approach valuations through time-frame arbitrage and what they look for in management teams.

Wellington’s Andrew J. Shilling and Clark R. Shields, sub-advisers to the Vanguard U.S. Growth Fund, talk about investing in companies with secular growth and competitive advantages in this episode of Bloomberg Intelligence’s Inside Active podcast. Host David Cohne, BI mutual fund analyst, and co-host Gina Martin Adams, BI chief equity strategist, spoke with Shilling and Shields about how they approach valuations through time-frame arbitrage and what they look for in management teams.

Reports of active management's demise have been greatly exaggerated. Active continues to grow and evolve in ETFs while mutual funds prosper and define benefit plans. Bloomberg Intelligence strategy team uncover active opportunities and gleam insights from active managers and those who cover the industry.

Reports of active management's demise have been greatly exaggerated. Active continues to grow and evolve in ETFs while mutual funds prosper and define benefit plans. Bloomberg Intelligence strategy team uncover active opportunities and gleam insights from active managers and those who cover the industry.

Inside Active by Bloomberg Intelligence

Wellington’s Shilling, Shields on Secular Growth

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/eaf11db6-4d01-472c-bf53-b1ee00f9a4f8/transcript

Active fixed-income ETFs are entering a new phase of growth, driven by investor demand, structural advantages and expanding product breadth. In this episode of Inside Active, host David Cohne, mutual fund and active management analyst at Bloomberg Intelligence, speaks with Jeff Johnson, head of Fixed Income Product at Vanguard, about the rapid rise of active bond ETFs and why fixed income remains a compelling space for active management. They discuss Vanguard’s expansion beyond its indexing roots, the appeal of ETFs for flexibility, liquidity and cost efficiency, and the key design challenges of active strategies in an ETF wrapper, including daily portfolio disclosure and scalability. The conversation also explores where flows are moving across short duration, core and higher-yielding strategies. Recorded March 19.

 

Active fixed-income ETFs are entering a new phase of growth, driven by investor demand, structural advantages and expanding product breadth. In this episode of Inside Active, host David Cohne, mutual fund and active management analyst at Bloomberg Intelligence, speaks with Jeff Johnson, head of Fixed Income Product at Vanguard, about the rapid rise of active bond ETFs and why fixed income remains a compelling space for active management. They discuss Vanguard&rsquo;s expansion beyond its indexing roots, the appeal of ETFs for flexibility, liquidity and cost efficiency, and the key design challenges of active strategies in an ETF wrapper, including daily portfolio disclosure and scalability. The conversation also explores where flows are moving across short duration, core and higher-yielding strategies. Recorded March 19.
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Vanguard’s Johnson on the Bond ETF Shift

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/eef0c59e-d02b-4ec7-b813-b41e013a57fa/transcript

Active ETFs may be in a golden age, not just a hot streak, driven by product innovation, lower structural frictions, conversions and potential ETF share classes. In this episode of the Inside Active podcast, host David Cohne, a mutual fund and active management analyst at Bloomberg Intelligence, along with co-host Athanasios Psarofagis, an ETF analyst at BI, speak with Todd Sohn, chief ETF strategist at Strategas Securities. They discuss the current state of the active ETF market, including the breadth of flows across asset classes, the rise of outcome-oriented products and whether crowded areas like buffers and certain derivative-based strategies have become overhyped. They also examine which products helped redefine the category, where active ETFs are taking share and underappreciated areas of future growth such as small-cap, fixed income and alternatives. This episode was recorded on March 16.

Active ETFs may be in a golden age, not just a hot streak, driven by product innovation, lower structural frictions, conversions and potential ETF share classes. In this episode of the Inside Active podcast, host David Cohne, a mutual fund and active management analyst at Bloomberg Intelligence, along with co-host Athanasios Psarofagis, an ETF analyst at BI, speak with Todd Sohn, chief ETF strategist at Strategas Securities. They discuss the current state of the active ETF market, including the breadth of flows across asset classes, the rise of outcome-oriented products and whether crowded areas like buffers and certain derivative-based strategies have become overhyped. They also examine which products helped redefine the category, where active ETFs are taking share and underappreciated areas of future growth such as small-cap, fixed income and alternatives. This episode was recorded on March 16.

Strategas’ Todd Sohn on the Active ETF Boom

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/d36f370b-0b41-4fea-9a4e-b41601049955/transcript

Rating agencies have been broadly positive, but their outlook is turning more cautious — especially in high yield — as geopolitical risks rise and spreads remain tight. In this episode of Inside Active, host David Cohne, mutual fund and active management analyst at Bloomberg Intelligence, along with co-host Sam Geier, corporate credit strategist at Bloomberg Intelligence, speak with David Sherman, founder and chief investment officer of CrossingBridge Advisors and a portfolio manager of the RiverPark Strategic Income Fund (RSIIX). Sherman explains why protecting return of capital matters more than chasing return on capital, how he applies a value-investing discipline to credit markets and where he’s finding opportunity in an expensive environment, including in the Nordic bond market. The conversation also explores the K-shaped divide in corporate credit fundamentals, the evolving distressed landscape and why liquidity premiums may be the most underappreciated risk in fixed income today. The podcast was recorded on March 3.

 

Rating agencies have been broadly positive, but their outlook is turning more cautious &mdash; especially in high yield &mdash; as geopolitical risks rise and spreads remain tight. In this episode of Inside Active, host David Cohne, mutual fund and active management analyst at Bloomberg Intelligence, along with co-host Sam Geier, corporate credit strategist at Bloomberg Intelligence, speak with David Sherman, founder and chief investment officer of CrossingBridge Advisors and a portfolio manager of the RiverPark Strategic Income Fund (RSIIX). Sherman explains why protecting return of capital matters more than chasing return on capital, how he applies a value-investing discipline to credit markets and where he&rsquo;s finding opportunity in an expensive environment, including in the Nordic bond market. The conversation also explores the K-shaped divide in corporate credit fundamentals, the evolving distressed landscape and why liquidity premiums may be the most underappreciated risk in fixed income today. The podcast was recorded on March 3.
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CrossingBridge’s Sherman on Return of Capital

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/97267cb6-a20c-4510-94a1-b41000feca57/transcript

Wellington’s Shilling, Shields on Secular Growth

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