Patitucci Moves to Transamerica from Hartford

Transamerica Retirement Services has announced the hiring of Paul Patitucci as regional vice president in the company’s Northeastern Region.

A news release said Patitucci will oversee sales and distribution activities in eastern Pennsylvania, from his base in Wayne, Pennsylvania. He will report to Christopher Barrett, Transamerica’s divisional vice president for the Northeast Region.

Patitucci joins Transamerica from The Hartford Retirement Services, where he served for the past eleven years as regional sales director. In that role, he was responsible for the sales of qualified retirement plans and expanding and maintaining broker relationships.

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He received his Bachelor of Arts in finance and economics and M.B.A. in finance from Temple University.

 

ETF Assets Down 2.7% in August

Assets in the exchange-traded funds (ETF) space fell $21.8 billion to $800 billion in August, down 2.7%, according to the latest data from State Street Global Advisors (SSgA).

Declines in size categories accounted for the majority of the total equity AUM drop, SSgA said. Large Cap assets fell $15.4 billion, followed by Small Cap, down $3.6 billion. All size and style categories declined in assets.

Meanwhile, the Fixed Income and Commodity categories rose $3.9 billion and $3.4 billion, respectively.  Year-to-date, areas with significant positive asset growth are commodities: up $11 billion, fixed income: up $31.1 billion, and dividend/fundamental: up $4.4 billion. Eight of ten sectors fell for the month with financials losing the most, down $1.2 billion. Utilities and materials were up slightly in absolute terms.

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The top three managers in the U.S. ETF marketplace were: BlackRock, State Street, and Vanguard, collectively snapping up approximately 84.3% of the U.S.-listed ETF market.

The top three ETFs in terms of dollar volume traded for the month were the SPDR S&P 500 [SPY], iShares Russell 2000 [IWM] and PowerShares QQQ [QQQQ]. The top three ETFs in terms of assets for the month were the SPDR S&P 500 [SPY], SPDR Gold Shares [GLD], and iShares MSCI Emerging Markets [EEM].

 

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