On Saturday, September 8th, Tedeschi Trucks Band hopped on Willie Nelson‘s traveling Outlaw Music Festival for their first of five dates with the tour. The band arrived at the first day of their Outlaw stint in mid-season form, having just finished up a busy summer headlining their 2018 “Wheels of Soul” tour with The Marcus King Band and Drive-By Truckers and a big weekend at LOCKN’ Festival. At the rainy Hershey stop, in addition to Willie Nelson and Tedeschi Trucks Band, the day’s festivities included performances by Sturgill Simpson, Van Morrison, Particle Kid, and Willie’s son, Lukas Nelson, with his band, Promise of the Real.Tedeschi Trucks made a big showing on their first night with the Outlaw festival. In addition to delivering their own powerful set, Derek Trucks and Susan Tedeschi joined Willie for the last two numbers of his set, “Will The Circle Be Unbroken?” and “I’ll Fly Away”. Willie’s set also saw him welcome his son, Lukas, for a rendition of “Texas Flood”, written by Larry Davis and Joseph Wade Scott and popularized by the late, great Stevie Ray Vaughan.Outlaw Music Festival continues today in Toronto with Willie, Tedeschi Trucks, Sturgill Simpson, and Terra Lightfoot. For a full schedule of upcoming Outlaw Music Festival stops and artists, head here.Below, you can watch videos of Tedeschi Trucks Band, Sturgill Simpson, Van Morrison and more from Outlaw Music Festival’s Hershey, PA stop via Sean Roche.Sturgill Simpson – “The Promise” [When In Rome cover]Sturgill Simpson – “Call to Arms” > “The Motivator”Tedeschi Trucks Band – “Laugh About It”Tedeschi Trucks Band – “Show Me” [Joe Tex cover]Tedeschi Trucks Band – “Midnight In Harlem”Van Morrison – “Baby Please Don’t Go”Van Morrison – “Warm Love”Van Morrison – “Ballerina”Van Morrison – “Brown Eyed Girl”View VideosSetlist: Sturgill Simpson | Hersheypark Stadium | Hershey, PA | 9/8/18Set: Welcome to Earth, It Ain’t All Flowers, The Promise, Breakers Roar, Brace for Impact, You Don’t Miss Your Water, Some Days, Turtles All the Way Down, Keep It Between the Lines, All Around You, Going Down, Call to ArmsSetlist: Tedeschi Trucks Band | Hersheypark Stadium | Hershey, PA | 9/8/18Set: Laugh About It, High & Mighty, Show Me, Down in the Flood, Don’t Know What It Means, Night Time Is The Right Time, Going, Going, Gone, Let Me Get By, Midnight In Harlem, How Blue Can You Get?, Part of Me, Shame, Space CaptainSetlist: Van Morrison | Hersheypark Stadium | Hershey, PA | 9/8/18Set: The Way Young Lovers Do, Sweet Thing, Benediction, Magic Time, Baby Please Don’t Go / Don’t Start Crying Now / Here Comes the Night, How Far From God, Days Like This, Moondance, Have I Told You Lately, Carrying a Torch, Wonderful Remark, Warm Love, Vanlose Stairway, I Can’t Stop Loving You, Wild Night, Broken Record, Ballerina, Did Ye Get Healed?, Brown Eyed Girl, GloriaSetlist: Willie Nelson | Hersheypark Stadium | Hershey, PA | 9/8/18Set: Whiskey River, Still Is Still Moving to Me, Good Hearted Woman, Down Yonder, Texas Flood*,Mamas Don’t Let Your Babies Grow Up to Be Cowboys, It’s All Going to Pot, Roll Me Up and Smoke Me When I Die, Still Not Dead, On the Road Again, Always on My Mind, I Been to Georgia on a Fast Train, Jambalaya (On the Bayou), Hey Good Lookin’, Move It On Over, Nuages, Blue Eyes Crying in the Rain, Twelfth Street Rag, Will the Circle Be Unbroken?^, I’ll Fly Away^*with Lukas Nelson^with Susan Tedeschi, Derek Trucks
It also noted that cost efficiency, ease of trading and liquidity, diversification and risk management were the most important benefits of ETFs.Beyond this, participants increasingly viewed active ETFs as a tool to add alpha, or as a means to achieve specific investment objectives, like sustainable investing. Nearly half (40%) of all client money allocated to exchange-traded funds (ETFs) will be in active or smart beta strategies by 2023, according to the respondents* of JP Morgan Asset Management’s (JPMAM) Second Annual Global ETF Survey.Survey participants, already regular users of active and smart beta ETFs, believe their clients’ ETF allocations held in passive products will decline to 61% of portfolios over the next three years, while the share of assets in active and smart beta ETFs will continue to grow substantially.The Global ETF Study 2020 took place in April 2020, with 320 survey respondents in the US, EMEA, Asia Pacific and Latin America taking part. While US-based respondents expect active ETFs to rapidly gain an edge in the next few years, making up more than a quarter of ETF allocations by 2023, APAC based respondents predict smart beta products will grow significantly faster in that region, the survey showed. Source: JP Morgan Asset ManagementJed Laskowitz, global head of asset management solutions at JPMAM, said: “We’re seeing a significant shift in sentiment and in the way investors use ETFs in portfolios. They are exploring their options and increasingly looking to diversify their use of ETFs beyond passive strategies.“For example, the current and expected growth in ESG ETFs and active ETFs is proof that these vehicles are likely to play a bigger role across investor portfolios.”ESG demand drives ETF growthEnvironmental, social, and corporate governance (ESG) and thematic ETFs are seen as key growth drivers in the near future, the study revealed. Globally, more than half (59%) of respondents predicted strong growth in ESG ETFs by 2023, while 42% believe thematic ETFs will similarly grow over the same period.As ESG gains familiarity across the industry, many investors want to use ESG ETFs to help align their investments with their values and beliefs, according to respondents. ESG ETFs are earmarked for significant expansion by around seven in 10 respondents in EMEA (72%), Asia Pacific (70%) and Latin America (68%).Survey prticipants highlighted several factors were driving client appetite: rising concern over climate change; a growing perception that taking ESG criteria into account can enhance risk management and improve risk-adjusted returns; there was also a preference for a more values-based approach to investment from younger investors.ESG interest may also fuel the future growth of active ETFs, as these structures are well suited for such investment strategies, the study concluded. Furthermore, in this year’s IPE ETF Guide, IPE Magazine’s 8th annual report on the global ETF market for institutional investors, JPMAM highlights the advantages that active ETFs can bring to a portfolio and takes a closer look at how its Research-Enhanced Index (REI) strategy can provided investors with the “best of both worlds”.The guide, which includes JPMAM’s contribution, will be distributed with the October issue of IPE Magazine.*Survey respondents included independent wealth and asset managers, discretionary fund managers, independent advisory and brokerage firms, private banks, fund-of-funds, insurance companies and investment platforms for defined contribution plans. To download a summary of the survey results, click here.To read the digital edition of IPE’s latest magazine click here.