As the $1.7 trillion private credit industry faces a significant fundraising slump, firms like Adams Street Partners, Antares Holdings, and Hayfin Capital Management are focusing on Latin America. They're targeting pension funds and wealthy individuals. 

Philippe Stiernon of ROAM Capital notes that scarce capital in the US and Europe is pushing managers to diversify. With institutional investors in the US and Europe at saturation points, funds are exploring Latin America for new growth. 

This region offers safer investments compared to its volatile domestic debt markets. Stiernon describes Latin America as "the last major frontier for LP growth" in the alternative investments landscape.

Finsum: This presents an opportunity to ultra diversify and get truly uncorrelated turns as we move into a potentially tumultuous election cycle. 

Actively managed exchange-traded funds (ETFs) are projected to quadruple their assets to $4 trillion globally by 2030, according to BlackRock. 

These funds are gaining traction, making up 70% of U.S.-listed ETF launches in the first half of 2024, driven by investor demand for strategies that can navigate market volatility and offer potential outperformance. The growth of active ETFs has been facilitated by a 2019 SEC regulatory change, which lowered barriers to entry and encouraged innovation.

Despite their higher costs, active ETFs are increasingly popular for their tax efficiency and flexibility. BlackRock projects the overall ETF industry will double its assets to $25 trillion by 2030.

Finsum: Volatility is driving a lot of active investment inflows, but this trend is set to continue as so much uncertainty remains. 

The Federal Reserve is expected to hold interest rates steady during its two-day policy meeting this week but signal potential rate cuts as soon as September, acknowledging that inflation is nearing the 2% target. 

Recent data shows easing price pressures, with the PCE price index rising at just 1.5% annualized since March. Fed officials may change their inflation description from "elevated" to "moderately elevated," reflecting confidence that inflation will continue to decline. 

Policymakers believe rate cuts might be necessary before inflation fully returns to the target. Fed Chair Jerome Powell will hold a press conference following the policy statement release detailing the future path of policy. 

Finsum: The market is still pricing in two more cuts by the end of the year, we’ll see if that comes to fruition. 

The New York Times has curated a list of the 100 best books of the 21st century, showcasing a diverse range of voices and genres. This prestigious selection includes works of fiction, non-fiction, poetry, and graphic novels that have made a significant impact on literature and culture. 

Topping the list is “My brilliant Friend: A Novel” by Elena Ferrante, who features three books on the list. Michael Pollan's "The Omnivore's Dilemma," book is a deep dive into the complexities of the modern food industry. The list also features influential memoirs such as "Educated" by Tara Westover and groundbreaking novels like "The Road" by Cormac McCarthy. 

Each book on the list is celebrated for its storytelling, insight, and contribution to the literary landscape. This compilation serves as a testament to the rich and evolving nature of contemporary literature.

Finsum: The number nine and ten spots highlight two wonderful dystopian novels “Never Let Me Go” and “Station Eleven” 

Since their launch three decades ago, exchange-traded funds (ETFs) have become a favored investment vehicle. ETFs, which trade like stocks but hold baskets of securities, saw significant growth in 2024, with more money flowing into ETFs than individual stocks. 

U.S.-based ETF assets hit a record $9 trillion in May, experiencing net inflows while mutual funds saw outflows. Investors are attracted to ETFs due to their low cost, ease of trading, and tax efficiency. The recent approval of cryptocurrency ETFs has further boosted their popularity, while actively managed ETFs are also on the rise. 

The iShares Core S&P 500 ETF (IVV) offers broad exposure to large-cap U.S. stocks at a low expense ratio of 0.03%. The iShares Core S&P Mid-Cap ETF (IJH) provides access to mid-cap companies with no overlap with large-cap holdings. The iShares Core S&P Small-Cap ETF (IJR) focuses on profitable small-cap companies, giving it a high-quality tilt that has outpaced the Russell 2000 in recent years.

Finsum: Cost effective ETFs are also great tools to get market segmentation exposure. 

A new group of traders is engaging in US power markets due to the rise in generative AI, according to Sarah Kiernan of Goldman Sachs. The increasing demand from data centers, electric vehicles, and onshoring is driving power needs. 

Data center power demand is projected to grow 165% by 2030. Hedge funds and asset managers are increasingly interested in power derivatives, seeking opportunities in this expanding market. Key regions like Virginia and Texas are experiencing notable power consumption increases. 

The shift to renewable energy also contributes to the optimism in the power sector. This growing focus on power markets signifies the broadening impact of AI innovation on various asset classes.

Finsum: Take this in combination with crypto and we could potentially see a boost in significant boost in demand for natural gas. 

Smarsh, a compliance tech firm serving major global financial institutions, has integrated OpenAI’s ChatGPT Enterprise Compliance API into its platform. This enables clients to utilize generative AI while adhering to regulatory requirements. 

According to Chief Product Officer Goutam Nadella, regulated industries face challenges with new cloud-based solutions due to stringent oversight. The integration allows for AI-generated content to be tagged, helping financial institutions comply with upcoming regulations. 

CEO Kim Crawford Goodman highlighted the importance of maintaining governance policies for AI-generated content. This aligns with FINRA's Regulatory Notice 24-09 regarding the supervision of electronic correspondence using generative AI.

Finsum: AI is best used to augment the relationship between advisors and clients and can serve for scheduling and many writing tasks. 

In 2024, emerging-market investments face a challenging environment due to high interest rates, elections, and strict regulations. However, optimism exists for both fixed income and equities. 

Higher-rated countries with strong external credit positions are less affected by rising rates, and better policymaking enhances stability. China's economic impact on commodity prices remains significant, while India's growth prospects are strong. 

South Korea's undervalued market may benefit from policy changes, and exposure to semiconductors and AI in regions like Korea, Taiwan, and China offers additional opportunities.

Finsum: Also keep a role on political stabilization which seems to be trending positive for a number of EMs.

Deciding to switch broker-dealers can be transformative yet challenging for financial advisors. But Advisors should thoroughly consider how their new environment will affect them.

Evaluate the support, technology, and practice management tools the new firm offers to boost your business. Ensure the firm's values and advisor focus align with your working style.

Confirm that the firm supports your specific business needs and niche. Research the firm's reputation and past issues to ensure it aligns with your professional image.

Lastly, trust your instincts and seek expert advice if needed to make an informed decision.

Finsum: Sometimes we get too caught up in the minutia when considering a switch but these high-level questions are important.

For golfers seeking an international adventure, several destinations that aren’t the typical Scottland or Ireland recommendations offer outstanding experiences. 

Los Cabos and the Baja Peninsula are top-tier golf locations with courses designed by famous architects and breathtaking landscapes. Loreto in Mexico allows golfing in a UNESCO site, while the Pacific Coastline and Riviera Maya feature exceptional courses like El Camaleón. 

Vietnam is rapidly emerging as a premier golf destination with diverse terrains and numerous new courses. Mauritius provides a unique blend of historical significance and stunning ocean-view courses like Iles aux Cerfs Golf Club. Each location promises a memorable golfing experience.

Finsum: The additional benefit of traffic and weather could make these great for later destinations in the season.