Top of the Obelisk
THE CITY-For nearly a decade, Heather Holt (photo above) had been in charge of the Los Angeles City Ethics Commission, which serves as a watchdog over LA’s politicians, lobbyists, and others.
And she helped with the install of a new timer, presumably from TASER, that sounds like 50,000 volts to alert a speaker that their time has expired. Innovative and scary. Critics who question whether the power dynamic of Heather seeking a raise from her bosses, undermines the agency’s role as a watchdog should find the clip of Herb Wesson lathering up the Ethics director during the budget hearings one year, Hi, Heather! It s priceless alongside Paul Krekorian, who has had ethical issues but reminded this year, at the truncated to nothing Budget Hearings, that he s approved every Ethics Commission budget request he s ever seen.
An Industry First: Two Mutual Funds Will Become ETFs This March March 3, 2021
An industry first is looming. Mutual fund issuer Guinness Atkinson is slated to convert two of its mutual funds to exchange traded funds on March 26.
The Guinness Atkinson Dividend Builder Fund (GAINX) and Guinness Atkinson Asia Pacific Dividend Builder Fund (GAADX) mutual funds will become ETFs on March 26.
“The shares of the two mutual funds are slated to become shares of the SmartETFs Dividend Builder (DIVS) and SmartETFs Asia Pacific Dividend Builder (ADIV), respectively,” according to a statement issued by the company.
In 2021, Dimensional Fund Advisors also plans to convert six tax-managed mutual funds with $20 billion in assets under management into ETFs. Meanwhile, the Nottingham Company has received board approval to transform its $99 million Adaptive Growth Opportunities Fund into an ETF too.
December 22, 2020
As the popularity of exchange traded funds explodes, some traditional mutual fund providers are trying to convert their products to ETFs, but they will have a tough slog through uncharted regulatory roads.
Three fund companies have already revealed plans to convert mutual funds to ETFs, and more are likely to follow suit, the Financial Times reports.
For instance, Guinness Atkinson anticipates the conversion of two mutual funds to ETFs by the end of the year, along with plans to switch a third over soon as well. In 2021, Dimensional Fund Advisors also plans to convert six tax-managed mutual funds with $20 billion in assets under management into ETFs. Meanwhile, the Nottingham Company has received board approval to adapt its $99 million Adaptive Growth Opportunities Fund into an ETF, too.