Richard Drury/DigitalVision via Getty Images Thesis We have written about a number of emerging and developed market equities funds in the past few months, but we always stumbled upon a structuring issue - these names were either focused on Asia, Europe, or Latin America. Finally, we have found a new fund that closes that gap. We are talking here about the Capital Group New Geography Equity ETF ( C...
Richard Drury/DigitalVision via Getty Images Thesis We have written about a number of emerging and developed market equities funds in the past few months, but we always stumbled upon a structuring issue - these names were either focused on Asia, Europe, or Latin America. Finally, we have found a new fund that closes that gap. We are talking here about the Capital Group New Geography Equity ETF ( CGNG ), an exchange-traded fund that came to market in 2024. What Does CGNG Do? The fund has long-term capital gains as its main objective and states the following on its webpage: This fund seeks broad exposure to developing country opportunities, principally by investing in developing country companies as well as multinational companies with material developing country exposure. Over the long term, this fund may have the potential to help provide developing markets-like returns with developed markets-like volatility. The ETF is an equities-only fund and has been able to allocate capital across the geographic boundaries encountered in other funds: Regions (Fund Website) APAC is the largest exposure currently at 47.5%, followed by the U.S. and Europe at roughly 18% each. We like the truly global allocation here, with Latin America at 15% to round out the portfolio. The twist for this fund is a 'look-through' approach that focuses on where the revenue comes from: ' We have decades of experience managing emerging market strategies that go beyond whether a company is located in China or India,” noted Scott Davis, the firm’s Head of ETFs. “Our approach looks at where a company derives its revenue and is inclusive of companies listed in developed and developing markets who are benefiting from the growth of emerging markets.” The fund therefore brings a unique approach to foreign-domiciled companies and their revenue streams. Fund Composition The fund invests mainly in large capitalization equities: Large Cap: 94.8% Mid Cap: 4.1% Small Cap: 1.1% From an individual name perspective,...
CIBC Asset Management Inc cut its stake in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 14.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 113,073 shares of the semiconductor company's stock after selling 19,239 shares during the quarter. CIBC Asset Management Inc's holdings in Taiwan Semicond...
CIBC Asset Management Inc cut its stake in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 14.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 113,073 shares of the semiconductor company's stock after selling 19,239 shares during the quarter. CIBC Asset Management Inc's holdings in Taiwan Semiconductor Manufacturing were worth $31,511,000 as of its most recent SEC filing. Several other institutional investors and hedge funds have also recently modified their holdings of TSM. Brighton Jones LLC raised its stake in Taiwan Semiconductor Manufacturing by 20.9% during the fourth quarter. Brighton Jones LLC now owns 10,930 shares of the semiconductor company's stock worth $2,159,000 after purchasing an additional 1,892 shares during the period. Perigon Wealth Management LLC increased its holdings in shares of Taiwan Semiconductor Manufacturing by 25.6% during the 2nd quarter. Perigon Wealth Management LLC now owns 7,417 shares of the semiconductor company's stock worth $1,680,000 after buying an additional 1,514 shares during the last quarter. Old Port Advisors raised its position in shares of Taiwan Semiconductor Manufacturing by 2.8% during the 2nd quarter. Old Port Advisors now owns 2,648 shares of the semiconductor company's stock valued at $600,000 after buying an additional 72 shares during the period. ORG Wealth Partners LLC lifted its holdings in Taiwan Semiconductor Manufacturing by 59.6% in the second quarter. ORG Wealth Partners LLC now owns 1,296 shares of the semiconductor company's stock valued at $291,000 after acquiring an additional 484 shares during the last quarter. Finally, CogentBlue Wealth Advisors LLC grew its position in Taiwan Semiconductor Manufacturing by 32.2% in the second quarter. CogentBlue Wealth Advisors LLC now owns 8,405 shares of the semiconductor company's stock worth $1,904,000 after acquiring an additional 2,049 shares during the per...
Getty Images It's been a strange few years for Hertz Global Holdings ( HTZ ). The company went bankrupt in 2020, seemingly a victim of the pandemic and global shutdown of travel. However, meme traders rallied around Hertz shares, and the stock soared following the bankruptcy filing. The bankruptcy process ultimately went ahead, but in an unusual development, Hertz's former equity shareholders were...
Getty Images It's been a strange few years for Hertz Global Holdings ( HTZ ). The company went bankrupt in 2020, seemingly a victim of the pandemic and global shutdown of travel. However, meme traders rallied around Hertz shares, and the stock soared following the bankruptcy filing. The bankruptcy process ultimately went ahead, but in an unusual development, Hertz's former equity shareholders were able to get a meaningful recovery coming out of bankruptcy reorganization. That's because used car prices soared, and a new backer was willing to put fresh money into the company. Legal wrangling has continued around the prior bankruptcy, and Hertz remains liable for some contested payments related to that, as we'll see in a moment. Regardless, Hertz was able to relist on the Nasdaq in 2021, and the stock price got back above $30/share at one point. Data by YCharts But it appeared Hertz's remarkable comeback was going to run out of road. Shares slumped to near penny stock territory in 2024 as the company generated massive losses amid some unfortunate capital allocation decisions. However, outside help came in and turned sentiment around. In early 2025, well-known fund manager Bill Ackman disclosed a stake in Hertz and laid out an intriguing case for why the stock could recover some of its past glory. HTZ stock jumped to as high as $9 per share. I was skeptical of Ackman's view, though, and published a call to sell into that rally . However, I upgraded HTZ stock to a hold in August when the stock retreated to $6. And with the stock remaining at a lower level now despite upbeat Q3 results, it's worth taking a fresh look at where the turnaround story stands today. Hertz's Q3 Results In Q3, the company returned to profitability after several years in the red. Adjusted non-GAAP earnings surged to positive 12 cents per share, which was up sharply from a 68-cent loss in the same period of 2024. Furthermore, adjusted corporate EBITDA jumped to $190 million from a $157 million loss...
Tokyo’s new condominium prices rose to a record in 2025, driven by ballooning construction costs, supply constraints and more expensive luxury apartments hitting the market. The average price of a new apartment for sale in the Japanese capital and surrounding areas rose 17% to ¥91.8 million ($596,000), according to figures released Monday by the Real Estate Economic Institute. Prices had fallen sl...
Tokyo’s new condominium prices rose to a record in 2025, driven by ballooning construction costs, supply constraints and more expensive luxury apartments hitting the market. The average price of a new apartment for sale in the Japanese capital and surrounding areas rose 17% to ¥91.8 million ($596,000), according to figures released Monday by the Real Estate Economic Institute. Prices had fallen slightly in 2024 after increasing for five years in a row. Home values in Tokyo have been on an upward trend as a weak yen increases costs of imported raw materials and a labor shortage adds to construction expenses. The supply of new apartments in the Tokyo metropolitan area fell 4.5% to the lowest in more than 50 years, the report showed, adding to price pressures in a market that has been dominated by high-end projects. “Developers are focusing on central locations where they can sell luxury condos and justify the pricing,” said Zoe Ward, chief executive officer of brokerage Japan Property Central. “A lot of their inputs will be construction costs and land pricing.” The Bank of Japan’s campaign to raise interest rates has done little to cool home prices. The frothy market has spurred concerns about affordability and speculation by foreign buyers . Prime Minister Sanae Takaichi has asked government ministries to consider ways to better monitor such investments. Average prices of new condos in central Tokyo grew about 22% to ¥136 million for the year, according to the report. The number of new apartments listed for more than ¥100 million surged 55%. The most expensive for sale in 2025 was a ¥2.5 billion unit at Brillia Tower Nogizaka.
Knowing this number can help simplify the claiming decision. In the years leading up to retirement, one of the bigger decisions you have to consider is when to claim Social Security benefits. When you claim Social Security will permanently affect how much you receive monthly, so it's a decision you shouldn't make on a whim. There's no "right" or "wrong" age to claim Social Security; just the age t...
Knowing this number can help simplify the claiming decision. In the years leading up to retirement, one of the bigger decisions you have to consider is when to claim Social Security benefits. When you claim Social Security will permanently affect how much you receive monthly, so it's a decision you shouldn't make on a whim. There's no "right" or "wrong" age to claim Social Security; just the age that makes sense for your personal situation. However, there are benchmarks you can use to help make your decision. One of those is the break-even age. What is your break-even age? In Social Security, your break-even age is when the total benefits from claiming at one age equal those from claiming at another age. It's not an end-all, be-all, but it can help you decide whether smaller payments over a longer period or larger payments over a shorter period is the better route for you. The good news is that break-even ages are the same no matter the amount of your projected benefit. For example, the break-even age between 62 and 67 is 78.7; between 62 and 70, it's 80.4; and between 67 and 70, it's 82.5. Any time before the break-even age, your total benefits from claiming at the earlier age are higher. After the break-even age, total benefits from claiming at the later age are higher. I used those three specific ages because 62 is the earliest you can claim benefits, 67 is the full retirement age for anyone born in 1960 or later, and 70 is the latest you can delay benefits and still receive delayed retirement credits. Break-even age should only be one piece of your decision-making After determining your break-even age, the next step should be to see how it fits with your personal situation. For example, if your health is a factor or you have family health issues, claiming benefits early may be the best option, so you have more time to take advantage of them. If longevity seems to be in your favor, you may choose to delay benefits and maximize the monthly benefit. If you can reas...