Deals & People February 8, 2011

Wilmington Trust Taps Hughes for Endowment Position

F. Mackey Hughes has joined Wilmington Trust as managing director of endowments and foundations for the Wealth Advisory Services (WAS) business, the company announced.
Reported by

Hughes will lead business strategy and market development with endowments, foundations, and other nonprofit organizations, and will offer the full scope of WAS’s investment, fiduciary, and custody capabilities. Hughes will be based in the Baltimore, Maryland, office of Wilmington Trust FSB.

Hughes joins Wilmington Trust from Camden Partners, LLC, a Baltimore-based private the business development partner responsible for delivering diversified, private equity fund-of-funds portfolios to clients, including endowments, foundations, pension funds, family offices, and high-net-worth individuals, among others. Before his five-year tenure at Camden, Hughes held senior positions over a 19-year period with Deutsche Bank Alex. Brown.  

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Hughes holds an undergraduate degree and an MBA from the University of North Carolina at Greensboro.

The company said it recently has also hired teams in Wilmington Trust FSB’s New York and Boston offices who specialize in serving endowments and foundations.

The Markets February 8, 2011

ETF Assets Continue Rise

Exchange-traded fund assets increased $8.8 billion (0.9%) during the month of January, to a total of approximately $1 trillion, according to State Street Global Advisors ETF Snapshot report.
Reported by

As of January 31, 2011, 970 ETFs were managed by 33 ETF managers. 

ETF flows topped $9 billion — the fifth consecutive month of positive flows, the report said. Large Cap and Fixed Income have the most inflows with $6.6 billion and $2.9 billion, respectively. International-Emerging and Commodities had the most outflows, losing $4.5 billion and $2.7 billion, respectively. Small Caps had more than $1.4 billion in outflows.  

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The top three managers in the U.S. ETF marketplace were: BlackRock, State Street, and Vanguard. Collectively, they account for approximately 83.4% 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 Vanguard Emerging Markets [VWO].   

According to the report, both the S&P 500 Index and MSCI EAFE Index rose 2.7%. US bonds were relatively unchanged with the Barclays U.S. Treasury Index falling 0.02% and the Barclays U.S. Aggregate Index rising 0.1%. Gold fell 5.6%, to $1,327 per ounce.   

Large Cap gains were driven mainly by inflows to the SPDR S&P 500. Losses in Emerging Markets were driven by a combination of negative performance and outflows. Commodity losses were mostly attributed to negative performance in the gold market.

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