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☆ What Is an Expense Ratio?
▼ + stars: | 2023-07-24 | by ( E. Napoletano | ) www.wsj.com time to read: +8 min

The easiest way to think of the expense ratio is the fee you pay to the portfolio manager of your mutual fund. When you invest in an ETF or mutual fund, the fund’s prospectus will state its expense ratio. How expense ratios impact investment returnsBefore you can look at how expense ratios impact your investment returns, it helps to understand what an average expense ratio looks like. While the average active stock fund’s expense ratio was 0.66% in 2022, the average bond fund charged just 0.44%, according to ICI. Remember: It should be easy to find the fund’s expense ratio.

Persons: it’s, Chloe Wohlforth, Russell, Warren Buffett, Peter Lynch —, Merrill Lynch, Morgan Stanley, Justin McCurdy, “, ”, you’re, McCurdy Organizations: Investment Company Institute, ICI, BuySide, SEC, Morningstar Locations: —, New York, U.S, Angeles

☆ UBS hit with $387 million in fines for ‘misconduct’ by Credit Suisse in Archegos dealings
▼ + stars: | 2023-07-24 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

CNN —UBS is being fined for missteps by Credit Suisse less than two months after UBS completed an emergency takeover of its former rival. On Monday, the Federal Reserve said it would fine UBS for “misconduct” by Credit Suisse in its risk management of Archegos Capital Management, an investment fund that collapsed in 2021. All told, the fines levied against UBS announced Monday total $387 million – including fines from the Swiss government and the Bank of England. In its announcement of the fine, the Federal Reserve Board said that Credit Suisse practiced “unsafe and unsound” credit risk management practices in its dealings with Archegos. UBS and Credit Suisse have also been ordered to submit a plan to strengthen oversight of their US operations and senior management in the next 120 days.

Organizations: CNN, UBS, missteps, Credit Suisse, Federal Reserve, Archegos Capital Management, Bank of England, Warner Brothers Discovery, Federal Reserve Board, Archegos, “ Credit Suisse, ”, Silicon Valley Bank, Signature Bank, Swiss Locations: Swiss, “, Wall, Switzerland

☆ BlackRock to expand proxy voting choice to retail ETF investors
▼ + stars: | 2023-07-17 | by ( Ross Kerber | ) www.reuters.com time to read: +2 min

FILE PHOTO: The BlackRock logo is pictured outside their headquarters in the Manhattan borough of New York City, New York, U.S., May 25, 2021. REUTERS/Carlo Allegri/File Photo(Reuters) - The world’s top asset manager BlackRock said it will offer proxy voting choices to U.S. retail investors of its biggest exchange-traded fund, expanding a strategy that could blunt criticism of how the firm considers environmental, social and governance (ESG) matters. Investors will not be able to specify votes in specific company elections. While many clients will rely on the votes BlackRock will continue to cast, “consistent with our fiduciary duty as an investment manager, others want the choice to participate in proxy voting more directly,” said Joud Abdel Majeid, Global Head of BlackRock Investment Stewardship, in a statement. Rivals including State Street and Vanguard have their own programs to devolve proxy voting rights.

Persons: Carlo Allegri, BlackRock, Glass, ”, Joud Abdel Majeid Organizations: REUTERS, BlackRock, New, Services, Glass Lewis, managements, Investment, Rivals, State, Vanguard, Republican Locations: BlackRock, Manhattan, New York City , New York, U.S, New York, Republican U.S

☆ Explainer-Why is the U.S. SEC reforming money market funds?
▼ + stars: | 2023-07-12 | by ( Michelle Price | ) www.reuters.com time to read: +3 min

WHAT ARE MONEY MARKET FUNDS? All the major asset managers and bank groups, including BlackRock, Vanguard, Fidelity and Goldman Sachs offer money market funds. The panic was reminiscent of 2008 when a run on money market funds threatened to freeze up global markets and prompted the government to backstop the sector. The agency has made changes to primarily address concerns about “prime” and tax-exempt money market funds, which are particularly susceptible to runs in times of stress. In addition, some money market funds would be required to impose a discretionary liquidity fee if the fund’s board deems it’s necessary.

Persons: Andrew Kelly, Goldman Sachs, It’s Organizations: WASHINGTON, U.S . Securities, Exchange Commission, SEC, Washington , D.C, REUTERS, U.S, Vanguard, Fidelity, U.S . Treasury, Treasury, Federal Reserve, redemptions Locations: Washington ,, BlackRock

☆ US SEC scraps contentious pricing proposal in final money market fund reforms
▼ + stars: | 2023-07-12 | by ( John Mccrank | ) www.reuters.com time to read: +3 min

Money market funds saw massive outflows in March 2020 at the onset of the COVID-19 pandemic, prompting the U.S. government to intervene to stabilize them. The panic was reminiscent of 2008 when a run on money market funds threatened to freeze up global markets and prompted the government to backstop the sector. Critics have said money market funds, which are a key source of short-term corporate and municipal funding, now enjoy an implicit government guarantee. In December 2021, the SEC proposed new liquidity requirements for money market funds, as well as scrapping redemption fees and restrictions. "I believe that liquidity fees, compared with swing pricing, offer many of the same benefits and fewer of the operational burdens."

Persons: Gary Gensler, John McCrank, Douglas Gillison, Michelle Price, Nick Zieminski, Emelia Organizations: YORK, U.S . Securities, Exchange Commission, SEC, BlackRock, Vanguard, Fidelity, U.S, Securities Industry, Financial Markets Association, Investment Company Institute, U.S . Chamber of Commerce, Thomson

☆ Pakistan: IMF approves $3 billion bailout for cash-starved country
▼ + stars: | 2023-07-12 | by ( ) edition.cnn.com time to read: +3 min

Islamabad Reuters —The International Monetary Fund’s board approved a $3 billion bailout program for Pakistan which will immediately disburse about $1.2 billion to help stabilize the South Asian ailing economy, the lender said on Wednesday. Pakistan and the fund reached a staff level agreement last month, securing a short-term pact, which got more than expected funding for the country of 230 million people. The country has faced an acute balance of payments crisis with only enough central bank reserves to cover barely a month of controlled imports. Longtime allies Saudi Arabia and United Arab Emirates have deposited $3 billion in Pakistan’s central bank in the last two days. Sharif said China had rolled over $5 billion in loans in the last three months to save his country from default.

Persons: “, Shehbaz Sharif, ”, Sharif, Fitch Organizations: Islamabad Reuters, Monetary, IMF, “, Longtime, United, CCC Locations: Islamabad, Pakistan, Saudi Arabia, United Arab Emirates, China

☆ Explainer: Why is the U.S. SEC reforming money market funds?
▼ + stars: | 2023-07-12 | by ( Michelle Price | ) www.reuters.com time to read: +3 min

Persons: Goldman Sachs, It's, Michelle Price Organizations: U.S . Securities, Exchange Commission, SEC, U.S, Vanguard, Fidelity, U.S . Treasury, Treasury, Federal Reserve, redemptions, Thomson Locations: BlackRock

☆ Republicans question BlackRock fund governance, revisiting old concerns
▼ + stars: | 2023-07-07 | by ( Ross Kerber | ) www.reuters.com time to read: +2 min

July 7 (Reuters) - A group of 15 Republican state attorneys general have questioned whether directors of BlackRock mutual funds are sufficiently independent of the world's largest asset manager. The letter was addressed to ten individuals listed in a BlackRock filing as nominees to a board that oversees BlackRock closed-end mutual funds. Among other things, they said BlackRock fund trustees who serve as directors of companies where BlackRock owns more than 5% of shares could lead to independence concerns. They also cite how BlackRock fund directors are responsible for dozens of funds - exceeding BlackRock's own "overboarding" guideline for public company boards. Critics have raised similar issues in the past about whether well-paid mutual fund directors are positioned to speak up.

Persons: Austin Knudsen, Ross Kerber, Diane Craft Organizations: Republican, Reuters, Montana Attorney, BlackRock, AGs, Thomson Locations: Montana, BlackRock

☆ Opinion | Can Social Security Be Fixed Forever?
▼ + stars: | 2023-07-03 | by ( Peter Coy | ) www.nytimes.com time to read: +2 min

In 1983, the main Social Security trust fund came within months of being exhausted. Max Richtman, the president and chief executive of the National Committee to Preserve Social Security and Medicare, told me he thinks it’s too long. He wrote in a recent Substack post that even 75 years isn’t long enough to look ahead. That’s three times the size of the gap in today’s dollars when projecting ahead 75 years. Making Social Security safe for only 75 years effectively assumes that all beneficiaries will “conveniently expire” at the end of the 75th year and so won’t need checks, he said.

Persons: Alan Greenspan, Max Richtman, it’s, ”, “, he’d, Laurence Kotlikoff, I’ve, there’s, Steve Laffey, Kotlikoff, aren’t, ” Laffey Organizations: Social Security, National Committee, Preserve Social Security, Boston University Locations: Cranston, R.I

☆ The next revolution in monetary policy is underway
▼ + stars: | 2023-06-30 | by ( Felix Martin | ) www.reuters.com time to read: +7 min

LONDON, June 30 (Reuters Breakingviews) - Monetary policy, Milton Friedman said, acts on the economy with long and variable lags. Monetary policy regimes evolve in response to the changing nature of prevailing economic challenges – though this also takes time. The next revolution in monetary policy may be brewing. One question Gopinath did not address is how the financial system came to dominate monetary policy. When contractions hit, however, central banks eased monetary policy and governments loosened their purse strings, just as before.

Persons: Milton Friedman, Gita Gopinath, Gopinath, ’, “, Peter Thal Larsen, Pranav Kiran, Oliver Taslic Organizations: Reuters, International Monetary Fund, Bank for International, IMF, Central, SVB, Signature Bank, Credit Suisse, Fed Funds, BIS, Thomson Locations: Portuguese, Sintra, Korean, United States, Europe, Central, England, London, U.S, China, Ukraine, “

☆ The U.S.-China Rivalry Is Complicating the World’s Debt Crisis
▼ + stars: | 2023-06-26 | by ( Peter S. Goodman | Adriana Loureiro Fernandez | ) www.nytimes.com time to read: +1 min

and its most influential participant, the United States, also wanted something else: They were adamant that Chinese creditors restructure $545 million in debt — loans Suriname had used to build roads and housing. As scores of middle- and lower-income countries grapple with an intensifying debt crisis, assistance is often held up by conflict between traditionally dominant Western institutions and a significant rising player: China. Its financial institutions dispense loans accompanied by few demands, providing an alternative to the austerity prescribed by the I.M.F. and the Biden administration have balked at providing relief until Chinese financial institutions participate. Otherwise, they assert, Chinese lenders are free-riding on debt forgiveness extended by others.

Persons: —, Biden Organizations: International Monetary Fund, International Monetary Locations: Washington, Suriname, United States, China, Asia, Africa, Latin America

☆ India’s $1 bln education buyout is a studied bet
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +2 min

MUMBAI, June 21 (Reuters Breakingviews) - The biggest merger in Indian corporate history has opened the door for private equity giant EQT (EQTAB.ST) to enter the country’s education finance market. The deal is touted as the largest ever PE buyout in the country’s financial sector and values Credila at roughly 101 billion rupees ($1.2 billion), or roughly 37 times earnings in the last financial year. The target specalises in education financing for those looking to universities in the United States, the UK and Canada for higher education. The buyers will also inject 20 billion rupees into Credila, which should help give the company, already a market major, an edge over rivals including state-controlled banks and the Warburg Pincus-backed Avanse Financial Services. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: HDFC, Credila, BPEA EQT, Warburg Pincus, Shritama Bose, Robyn Mak, Thomas Shum Organizations: Reuters, Chrys Capital, Bajaj Finance, Financial, Twitter, Virgin, Thomson Locations: MUMBAI, Swedish, United States, Canada, India, Credila, Cava

☆ Blinken heads to Beijing hoping to calm fears of a US-China break
▼ + stars: | 2023-06-16 | by ( Humeyra Pamuk | Thomson Reuters | Humeyra Pamuk Is A Senior Foreign Policy Correspondent Based In Washington Dc. She Covers The U.S. State Department | ) www.reuters.com time to read: +5 min

Blinken will hold meetings in China on June 18-19 and may meet with Chinese President Xi Jinping, sources said. He will be the highest-ranking U.S. government official to visit China since Biden took office in January 2021. That followed a tense evening phone call with Blinken on Tuesday during which Chinese Foreign Minister Qin Gang told the U.S. to stop meddling in China's affairs. So even going through the motions has some utility for both Washington and Beijing." Particularly worrisome for China's neighbors has been its reluctance to allow regular military-to-military talks between Beijing and Washington, despite repeated U.S. attempts.

Persons: Antony Blinken, Xi Jinping, Biden, Qin Gang, Wang Wenbin, Joe Biden, Andrew Small, Marshall, Tsai Ing, Stephane Dujarric, EYEING BIDEN, Xi, Emanuel Macron, Blinken's, Janet Yellen, Gina Raimondo, Yun Sun, Humeyra Pamuk, David Brunnstrom, Laurie Chen, Martin Pollard, Michelle Nichols, Ben Blanchard, Don Durfee, Daniel Wallis Organizations: Blinken, Foreign, Washington, French, U.S, Treasury, China Program, Stimson, Economic Cooperation, APEC, Biden, Thomson Locations: Beijing, United States, China, U.S, Asia, Taiwan, Taiwan Strait, Washington, Bali, Europe, East, Africa, Saudi Arabia, India, San Francisco, New York, Taipei

☆ First Came Golf’s Flash Grenade. Now, Here’s the U.S. Open.
▼ + stars: | 2023-06-13 | by ( Alan Blinder | Kevin Draper | ) www.nytimes.com time to read: +2 min

For the first time in generations, the PGA Tour was not the unrivaled signature show in American men’s golf. How might players who defected from the tour to LIV be allowed to return? And what about all of that money, said to be $100 million or more in some instances, that the wealth fund promised LIV golfers? Much about the framework agreement, though, is unclear, with bankers and lawyers still rushing to fill in blanks on matters as weighty as asset valuation. (“I don’t have enough information about the deal yet to have an unfavorable or favorable view about it,” Patrick Cantlay, a player who is on the PGA Tour’s board, said on Tuesday.)

Persons: Lyndon, Johnson’s, LIV, ” Patrick Cantlay Organizations: Torrey, PGA Locations: Torrey Pines, San Diego, Sea Pines, Hilton Head, Saudi, London, Venice, San Francisco, New York

☆ Opinion | Golf’s Antitrust Problem Just Got Bigger
▼ + stars: | 2023-06-07 | by ( Peter Coy | ) www.nytimes.com time to read: +1 min

Sports leagues love competition, except against one another. The leagues make more money when they don’t have to compete for talent and audience. The PGA Tour will appoint a majority of the board and hold a majority voting interest in the combined entity. But the Saudi sovereign wealth fund, the Public Investment Fund, will start out as the exclusive investor in the entity, and Yasir al-Rumayyan, the wealth fund’s governor, will be the entity’s chairman. In this case the PGA Tour looks more swallowed than swallowing, but Ross told me, “From the branding point of view the PGA Tour was a monopoly and it will still be the dominant organizer with its new huge partner.”

Persons: LIV, Yasir al, it’s, That’s, ” Stephen Ross, Ross, ” Organizations: Saudi, LIV Golf, The Times, Public Investment Fund, Penn State Law Locations: Saudi Arabia, Europe, Saudi

☆ Golf’s new Saudi deal presents questionable political, business and sporting realities
▼ + stars: | 2023-06-07 | by ( Stephen Collinson | ) edition.cnn.com time to read: +12 min

And the deal is also undeniably a great piece of business, assuming PGA Tour players accept it. And all pending litigation between LIV Golf and the PGA Tour was also mutually ended under the new agreement. He “co-opted the 9/11 community last year in the PGA’s unequivocal agreement that the Saudi LIV project was nothing more than sports washing of Saudi Arabia’s reputation,” the group said in a statement. Unresolved sporting conundrumsThere are as many sporting questions about the PGA Tour/LIV Golf partnership that remain unanswered. Then there is the question of how current PGA Tour members will respond.

Persons: LIV Golf, Arnold Palmer, Jamal Khashoggi, Prince Mohammed bin Salman, –, LIV –, Jay Monahan, Monahan, ”, “, Saudi LIV, ” Monahan, Dustin Johnson, Phil Mickelson, Patrick Reed, Cam Smith, Donald Trump, LIV, Trump, Khashoggi, ” Trump, Joe Biden, Antony Blinken, Tuesday’s LIV, Qataris, Cristiano Ronaldo, Karim Benzema, ” Yasir Al, Rumayyan, of Famer Greg Norman, Collin Morikawa, Mickelson, Alan Shipnuck, Shipnuck Organizations: CNN, PGA, Saudi, Post, Premier League, Global, Families United, Saudi shills, Crown, Formula One, NBA, Tour, Qatar, Soccer, Manchester City, United, Newcastle, Indian Premier League, Al, Real, Saudi Public Investment, “, Saudi Public Investment Fund, CNBC, of Famer, Open, Twitter Locations: Washington, Saudi, Qaeda, Riyadh, China, Western Europe, East, India, United Arab Emirates, Saudi Arabia, Ittihad, Real Madrid, French

☆ PGA Tour and LIV Golf Agree to Alliance, Ending Golf’s Bitter Fight
▼ + stars: | 2023-06-06 | by ( Alan Blinder | ) www.nytimes.com time to read: +1 min

The PGA Tour, the dominant force in men’s professional golf for generations, and LIV Golf, which made its debut just last year and is backed by hundreds of millions of dollars in Saudi money, will together form an industry powerhouse that is expected to transform the sport, executives announced Tuesday. The rival circuits had spent the last year clashing in public, and the tentative agreement that emerged from secret negotiations blindsided virtually all of the world’s top players, agents and broadcasters. The deal would create a new company that would consolidate the PGA Tour’s prestige, television contracts and marketing muscle with Saudi money. The deal, coming when Saudi Arabia is increasingly looking to assert itself on the world stage as something besides one of the world’s largest oil producers, has implications beyond sports. The Saudi money will give the new organization greater clout, but it comes with the troubling association of the kingdom’s human rights record, its treatment of women and accusations that it was responsible for the 2018 murder of Jamal Khashoggi, a leading critic.

Persons: LIV Golf, blindsided, Yasir al, Jamal Khashoggi Organizations: PGA, Saudi government’s Public Investment Fund Locations: Saudi, Saudi Arabia

PinnedThe PGA Tour and LIV Golf, the insurgent league bankrolled by billions of dollars from Saudi Arabia’s sovereign wealth fund, said on Tuesday that they had agreed to a merger, ending a bitter and costly fight for supremacy of men’s professional golf that had divided top players, everyday fans and corporate sponsors. Now, by merging with the PGA Tour, it has gained a foothold that guarantees it outsize influence in the game’s future. The PIF also will have right of first refusal on new investments in the merged tour, according to the statement announcing the merger. “Going forward, PIF will have the exclusive right to further invest in the new entity, including a right of first refusal on any capital that may be invested in the new entity, including into the PGA Tour, LIV Golf and DP World Tour.” The PGA Tour will appoint a majority of the board, the statement said, and hold a majority voting interest in the combined entity. In a memorandum to PGA Tour players on Tuesday, Monahan said the wealth fund would have a minority position in the new for-profit company that will control men’s golf.

Persons: LIV Golf, bankrolling LIV, “, PIF, LIV, Jay Monahan, we’ve, LIV . Monahan, Yasir al, Monahan, Brooks Koepka, Dustin Johnson, Phil Mickelson, LIV signees, Graeme McDowell, “ It’s, ” Organizations: PGA, Premier League soccer, Public Investment Fund, PGA Tour, ”, Public Investment, U.S Locations: Saudi, Riyadh, Saudi Arabia

☆ PGA and LIV Merger PGA Tour and LIV Golf Agree to Merger
▼ + stars: | 2023-06-06 | by ( Alan Blinder | ) www.nytimes.com time to read: +2 min

PinnedThe PGA Tour and LIV Golf, the insurgent league bankrolled by billions of dollars from Saudi Arabia’s sovereign wealth fund, said Tuesday that they had agreed to a merger, ending a bitter fight for supremacy of men’s professional golf that had divided top players, everyday fans and corporate sponsors. The governor of the Saudi fund will become chairman of the joined organization. Monahan is expected to be the new group’s chief executive, with Yasir al-Rumayyan, the wealth fund’s governor, installed as its chairman. The PGA Tour, long the dominant force in professional golf, retaliated by banning any players who joined the new tour from its events. But by midday Tuesday, golf’s era of high-dollar brinkmanship had ended, with promises of “a fair and objective process for any players” looking to return to good standing with the PGA Tour or its European counterpart.

Persons: LIV Golf, LIV, we’ve, ” Jay Monahan, LIV . Monahan, Yasir al, Brooks Koepka, Dustin Johnson, Phil Mickelson Organizations: PGA, Saudi, Public Investment Fund, PGA Tour, Public Investment Locations: Saudi

☆ Opinion | The Impossible Math of the Debt Deal’s Detractors
▼ + stars: | 2023-05-29 | by ( Peter Coy | ) www.nytimes.com time to read: +2 min

Even the cuts in the debt ceiling deal would be a mild retardant for economic growth. in 2021, compared with 115 percent for the United States, and Japan seems to be doing OK. (Those numbers are somewhat exaggerated because they include debt held by other parts of the government, not just debt held by the public.) At that point, an uncomfortably large portion of federal spending has to be devoted to paying interest on the debt. That brings up the second thing that’s wrong with the right wing’s condemnation of the debt ceiling deal. The drama around the debt ceiling deal, which is far from over, is intense because negotiators are trying to achieve something that is impossible.

In 2017, with Mr. Connors’ help, Mr. Maichle started his own company, Precision Compliance Consulting. ‘Boss Man’Mr. Connors, Mr. Lewis and Mr. Maichle were all active in college conservative politics in Wisconsin about 15 years ago, when Mr. Connors was the leader of campus Republicans at Marquette University. Of that, about $102,000 went to Campaign Now, the firm started by Mr. Connors, and another $112,000 to companies where Mr. Connors, Mr. Maichle or Mr. Lewis was either the owner or a partner, tax records show. Most of the money — more than $4.4 million — went to fund-raising companies via tens of thousands of small payments. Most of the money — more than $4.4 million — went to fund-raising companies via tens of thousands of small payments.

☆ ValueAct loses its temper in 7-Eleven
▼ + stars: | 2023-05-10 | by ( Pete Sweeney | Thomson Reuters | Asia Economics Editor Pete Sweeney Joined Reuters Breakingviews In Hong Kong In September Previously He Served As Reuters' Chief Correspondent For China Economy | ) www.reuters.com time to read: +4 min

HONG KONG, May 10 (Reuters Breakingviews) - ValueAct Capital’s chief Mason Morfit prefers to chide undervalued conglomerates behind closed doors. In its latest 151-page presentation, ValueAct took its case directly to shareholders, the second time it has seen fit to do so in its history. That highlights the U.S. fund’s frustration from its two-year long campaign calling for Seven & i to spin off its 7-Eleven convenience stores, among other things. That implies a standalone 7-Eleven could be worth 10 trillion yen, roughly a quarter more than its parent today. He may have a point, and in truth ValueAct has far more experience turning around technology companies than food retailers.

☆ Pension Funds Consider Unloading Stocks, Adding Credit
▼ + stars: | 2023-05-05 | by ( Heather Gillers | ) www.wsj.com time to read: 1 min

The California State Teachers’ Retirement System is moving to lower risk without bringing down returns. Photo: Max Whittaker for The Wall Street JournalSome of the nation’s largest pension funds are looking at pulling back on stocks and adding private credit, while grappling with the possibility of a prolonged economic slowdown. Board members of the $307 billion California State Teachers’ Retirement System voted Thursday to reduce the fund’s stockholdings to 38% from 42%, a shift staff and consultants said would lower the fund’s risk level without bringing down returns. The public pension fund, the nation’s second-largest, is closely watched by other retirement managers.

☆ Short investor Hindenburg erases fifth of Icahn empire’s value
▼ + stars: | 2023-05-02 | by ( ) edition.cnn.com time to read: +4 min

In a report published on Tuesday, Hindenburg accused IEP of overvaluing its holdings and relying on a “Ponzi-like” structure to pay dividends. The subsequent plunge in IEP shares wiped $2.9 billion off Icahn’s net worth, leaving him with an estimated $14.7 billion, according to Forbes. NAV is a key gauge of a fund’s performance, measuring the market value of securities held by the fund. Driving the frothiness in IEP’s stock, Hindenburg argued, is its dividend yield of 15.8%, the highest of any US large cap company by far. Hindenburg also offered examples it said showed IEP itself was valuing its holdings way above their market value.

☆ India to have 2.9 million more people than China by mid-2023, UN estimate shows
▼ + stars: | 2023-04-19 | by ( Yp Rajesh | ) www.reuters.com time to read: +2 min

The demographic data from the United Nations Population Fund’s (UNFPA) “State of World Population Report, 2023” estimates India’s population at 1,428.6 million or 1.4286 billion against 1.4257 billion for China. The United States is a distant third, with an estimated population of 340 million, the data showed. Population experts using previous data from the UN have projected India would go past China this month. Although India and China will account for more than one-third of the estimated global population of 8.045 billion, the population growth in both Asian giants has been slowing, at a much faster pace in China than in India. “The Indian survey findings suggest that population anxieties have seeped into large portions of the general public,” Andrea Wojnar, Representative for UNFPA India, said in a statement.

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