TORONTO, June 21, 2017 /CNW/ – Hamilton Capital Partners Inc. (“Hamilton Capital”) is pleased to announce the distribution for its ETFs, the Hamilton Capital Global Bank ETF (ticker “HBG”) and the Hamilton Capital Global Financials Yield ETF (ticker “HFY”), both of which trade on the Toronto Stock Exchange, for the period ended June 30, 2017. The ex-dividend date for the distribution is anticipated to be June…
Hamilton ETFs
Notes from the Field: Everything’s Peachy in Atlanta
A recent trip to Atlanta gave us a chance to meet with executives from several publicly traded banks headquartered in Georgia, as well as some of their commercial customers and a local land broker. Seven months after the election of an administration with ambitions of pro-growth policies and reforms that renewed investor interest in U.S. bank stocks, the trip presented a good opportunity to check in…
Notes from the Field: At Home with the Challengers of U.K. Banking
During a recent trip to London, we had the opportunity to sit down with executives from six UK-based banks, including teams from two High Street banks and four from what are commonly referred to as “Challenger banks”. In this note, we review our stance on U.K. banks, provide a brief breakdown of the market, and discuss our key takeaways from the trip.
Notes from the Field: U.S. Mid-Cap Bank Meetings in New York
We recently attended a U.S. financial services conference in New York City and had the opportunity to meet with executives from seven mid-cap banks. These meetings were of particular importance to us, as the Hamilton Capital Global Bank ETF (HBG) has ~46% of NAV invested in the U.S., with the majority of that in banks with less than US$50 bln in assets. Given the relatively low…
HBG: Raising U.S. & Australian Bank Exposure Post-Pullback
Supported by active management, the Hamilton Capital Global Bank ETF (HBG) continues to enjoy material outperformance. The since-inception returns have exceeded the global banks index by ~11%[1], despite comparatively lower drawdowns relative to major indices. In the past month we made two noteworthy adjustments to the ETF’s country weightings. On February 14th we posted an HBG Comment disclosing that we had recently reduced our weighting to…
HBG: EPS for U.S. Bank Portfolio Grows 15%+ in Q1
U.S. banks are by far the largest portfolio within the Hamilton Capital Global Bank ETF (HBG) and over time, we expect this group will represent between 30% and 50% of the ETF. As we have written previously, we typically prefer U.S. mid-cap banks over their larger peers because they: (i) are generally more rate-sensitive, (ii) are merging, and (iii) are growing earnings faster. In fact, during…
CIBC: On PVTB, Why We Agree with the Higher Bid (and Two Reasons Why it Should Not be Raised Further)
In this ETF Comment, we: (a) explain why we agree with CIBC’s decision to increase its bid for PVTB, and (b) provide two reasons why the bank should walk away from their bid, if this new price is not accepted.
Hamilton Capital Announces HBG, HFY March 2017 Distributions
TORONTO, March 22, 2017 /CNW/ – Hamilton Capital Partners Inc. (“Hamilton Capital”) is pleased to announce the distribution for its ETFs, the Hamilton Capital Global Bank ETF (ticker “HBG”) and the Hamilton Capital Global Financials Yield ETF (ticker “HFY”), both of which trade on the Toronto Stock Exchange, for the period ended March 31, 2017. The ex-dividend date for the distribution is anticipated to be March…
JPM Investor Day: Capital Return, Tax Reform, and Interest Rates
As we have written in the past, in the Hamilton Capital Global Bank ETF (HBG), we generally prefer mid-cap U.S. banks over their larger peers. With respect to the Hamilton Capital Global Financials Yield ETF (HFY), our U.S. bank allocation is very small (~6%), because yields for the sector are among the lowest in global banking (although we expect them to rise in the next two…
HBG: EPS for HBG’s U.S. Bank Holdings
The Hamilton Capital Global Bank ETF (HBG) currently has exposure to 27 U.S. banks, spread across 21 different states, representing 42% of the ETF. As we have written previously, we favour a portfolio drawn from the universe of over 200 U.S. mid-cap banks over their larger peers because they: (i) are more rate-sensitive, (ii) are growing earnings faster, and (iii) are merging. This quarter underscored –…
HBG: Raising U.K. Exposure
In the Hamilton Capital Global Bank ETF (HBG), we expect U.K. banks, including the so-called “challenger banks” over time, to represent between 5-10% of the ETF. However, in HBG’s first year, the prospect of Brexit resulted in much lower weights (generally between zero and 5%). In addition, we also consistently hedged our pound currency exposures. However, our positioning on the U.K. (and the U.S.) has recently…
Hamilton Capital Opens TSX, launching new Global Financials Yield ETF
On February 8, 2017, Hamilton Capital, and its partners, joined Dani Lipkin, Head, Business Development, Exchange Traded Funds, Closed-End Funds, and Structured Notes, TMX Group to open the market to launch Hamilton Capital Global Financials Yield ETF (HFY;TSX). HFY commenced trading on the Toronto Stock Exchange on February 7, 2017.