Anyone on Social Security is probably about to …
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A Social Security cost-of-living adjustment looks unlikely in 20162 (Investment News)
In October, the Social Security Administration will announce the cost-of-living adjustment for 2016. An increase is unlikely for 2016, and some earners at the higher end are likely to see benefits decrease as Medicare premiums continue to rise.
According to Investment News, it is unlikely there will be a cost-of-living adjustment because of slowing inflation over the past year. This is likely to cause high-income retirees to see a drop in benefits because they are not protected from an increase in Medicare premiums.
Pimco says it received a Wells Notice from the US Securities and Exchange Commission related to its disclosure over securities in its Total Return Bond Fund ETF.
According to Bloomberg, the investigation is looking into “whether the total return ETF purchased small lots of bonds at discounts, then marked them up when valuing holdings to artificially boost returns.”
The ETF has gained approximately 20% since its inception in March 2012, outpacing the 12% gain the owners of the mutual fund have enjoyed over that time.
A company’s former CEO was indicted for murder and the stock is crashing4 (Business Insider)
Jerrod Menz, the former president of AAC Holdings, has been indicted on a charge of second-degree murder along with three former employees and a current employee. The indictment stems from a 2010 death of a patient at American Addiction Centers, which AAC is the parent company to. According to a statement released by the company, “Defending ourselves against the indictment could potentially entail costs that are material and could require significant attention from our management.” The stock was down as much as 53%.
The retail investor is finally warming up to the use of exchange-traded funds.
ETF assets jumped by $265 billion in the second quarter, accounting for an increase of 14%. According to Think Advisor, long-term mutual funds saw their total asset value increase just 6%.
Van Eck has announced the acquisition of the Yorkville High Income MLP ETF (YMLP) and the Yorkville High Income Infrastructure MLP ETF (YMLI). Terms of the transaction were not disclosed.
Brandon Rakszawski, product manager at Van Eck Global, noted, “This presented us an opportunity to provide MLP exposure to our existing client base and shareholders of all levels.”
- ^ Flickr / robert terrell (www.flickr.com)
- ^ A Social Security cost-of-living adjustment looks unlikely in 2016 (www.investmentnews.com)
- ^ Pimco received a Wells Notice (www.bloomberg.com)
- ^ A company’s former CEO was indicted for murder and the stock is crashing (www.businessinsider.com)
- ^ ETF use is growing among RIAs (www.thinkadvisor.com)
- ^ Van Eck Global buys two ETFs (www.fa-mag.com)