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STOXX licenses iSTOXX Europe ESG Select 30 to JP Morgan
November 26, 2015--STOXX Limited,, a leading provider of innovative, tradable and global index concepts, today licensed the iSTOXX Europe ESG Select 30 Index to JP Morgan for a structured product.
The index screens European companies from the STOXX Global ESG Leaders Index for those that pay high dividends and also have low volatility, thus creating a hybrid portfolio of ESG, high dividend and low volatility strategies.
The index is designed to act as an underlying for exchange-traded funds and other investable products, such as structured products.
"Research shows the existence of a so-called low volatility anomaly where low volatility stocks have historically produced higher risk-adjusted returns compare to higher volatility stocks globally," said Hartmut Graf, chief executive officer, STOXX Limited.
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Source: STOXX
Annual Growth Survey 2016: Strengthening the recovery and fostering convergence
November 26, 2015--Annual Growth Survey starts the 2016 European Semester
Today's package launches the annual cycle of economic governance. It sets out general economic and social priorities for the EU and gives Member States policy guidance for the following year.
Policy challenges vary across countries, so responses will also vary. However, there are overarching themes that affect the EU as a whole. To strengthen the recovery and foster convergence, the Commission recommends building on the three main pillars identified last year for the EU's economic and social policy: re-launching investment, pursuing structural reforms and responsible fiscal policies.
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Source: European Commission
The EU's economic governance explained
November 26, 2015--An explanation of the EU's economic governance
The economic and financial crisis revealed weaknesses in the EU's economic governance. The EU responded by taking a wide range of measures to strengthen its governance and to facilitate a return to sustainable economic growth, job creation, financial stability and sound public finances.
Central pillars of these efforts are: the legislative packages to strengthen the Stability and Growth Pact known as the "Six Pack" and "Two Pack", and the Intergovernmental Agreement (IGA) known as the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union. All EU Member States except the UK, the Czech Republic and Croatia have now signed this Treaty. The "Six Pack" strengthened the Stability and Growth Pact and also introduced a new macroeconomic surveillance tool: the Macroeconomic Imbalance Procedure.
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Source: European Commission
Financial benchmarks: Commission welcomes agreement on new rules to prevent manipulation
November 25, 2015--The European Commission welcomes last night's agreement between the European Parliament and the Council of the EU on a Regulation of financial benchmarks.
The new rules were first proposed by the Commission in September 2013 in the wake of the alleged manipulation of various benchmarks which were to the clear detriment of consumers and companies throughout the EU. Following last night's preliminary political agreement, the EU is setting a leading standard globally.
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Source: European Commission
EU Transaction Tax Falters as Austria-Imposed Deadline Nears
November 25, 2015--Participating nations haven't decided what trades to tax
Open questions include how to treat pensions, document says
A proposed European financial-transactions tax is foundering as 11 participating nations try to meet a December deadline to decide how to charge levies on an array of financial products.
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Source: Bloomberg
ISE reduces clearing fees in the Irish market by 50%
November 24, 2015--The ISE has announced a 50% reduction in clearing fees for order book trades in Irish equities and ETFs, effective 3 December 2014.
The reduced fee level will benefit trading member firms and investors by significantly decreasing clearing costs for executions on the ISE Xetra order book said Brian Healy, Director, Traded Markets, Development, Operations.
Source prepares to launch physical ETF platform
November 23, 2015--Source, one of the largest providers of Exchange Traded Funds (ETFs) in Europe, is appointing Legal & General Investment Management ("LGIM") as the investment manager for a new physical fund platform, Source Markets II Plc.
LGIM is one of the largest providers of index funds in Europe (£264 billion) and a major global investor with total assets under management of £717 billion. Source is also appointing Northern Trust, Source's current service provider, as the administrator and custodian for the new platform. These appointments are subject to regulatory approval.
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Source: Source
ETF Securities expands its short and leveraged offering on London Stock Exchange
November 23, 2015--2015 has seen increased investor demand for ETF Securities' existing short and leveraged Exchange Traded Product (ETP) suite with global net inflows of approximately US$135 million
18 new 3x short and leveraged commodity ETPs and six new 5x short and leveraged currency ETPs listed on London Stock Exchange (the "LSE")
ETF Securities Group, one of the world's leading, independent providers of ETPs, has announced the listing of 18 new 3x short and leveraged commodity ETPs and six new 5x short and leveraged currency ETPs on the LSE today.
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Source: ETF Securities
IMF Staff Concludes Visit to Russian Federation
November 23, 2015--An International Monetary Fund (IMF) mission visited Moscow during November 16-20, 2015, to discuss the economic outlook and related policies. At the conclusion of the visit, Ernesto Ramirez Rigo, IMF mission chief for Russia, issued the following statement:
"There are tentative signs of economic stabilization in Russia. The economy is expected to contract by 3.8 percent in 2015 followed by a milder contraction of 0.6 percent in 2016 due to the headwinds from lower oil prices. The current account adjustment is progressing rapidly, supporting the ongoing external deleveraging process. Inflation is projected to decline to 12.7 percent at end-2015, and, in the absence of shocks to international oil prices, to continue to fall further during 2016.
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Source:IMF
Fund manager fee cap could control costs
November 23, 2015--Competition does not keep charges down in the pensions industry.
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Source: FT.com
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