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BlackRock wins Transport for London pension mandate
June 15, 2015--BlackRock has won a £3.8 billion (€5.2 billion) mandate to manage Transport for London (TfL) pension fund's liability-driven investing (LDI) and passive equity assets.
The asset management giant will manage a £2.2 billion (€3 billion) private equity asset portfolio, which includes investments across a range of index funds.
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Source: CityWire
'Closet tracker' funds more than doubled in the UK
June 14, 2015--The number of "closet tracker" funds that charge high fees for active management but do little more than mimic a benchmark has more than doubled in the UK over the past 12 months.
The findings, based on an analysis of the UK fund market by Morningstar, the data provider, has intensified pressure on the fund industry to stamp out such funds.
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Source: FT.com
LSE head: 'abolish stamp duty on listed shares'
Xavier Rolet is calling for the government to abolish stamp duty on listed shares to encourage investment
June 14, 2015--The chief executive of the London Stock Exchange has called on the government to abolish stamp duty on all listed shares ahead of the Summer Budget next month.
Writing exclusively for the Daily Telegraph to commemorate 20 years of the Aim market, Xavier Rolet said more needed to be done to make the markets more accessible for people to invest.
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Source: The Telegraph
Xetra Dax near correction territory as euro rally continues
June 14, 2015--The sustained rebound in the euro took a further toll on some of the currency area's biggest exporters on Thursday, leaving Frankfurt's main equities index within sight of correction territory.
Measured to the trough of Thursday's trading, the Xetra Dax 30 is down 9.3 per cent from its record peak reached on April 10, taking it to the brink of the commonly accepted definition of a correction, a decline of 10 per cent.
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Source: FT.com
Vanguard names new European fixed income chief
June 12, 2015--Vanguard is shifting one of its top US fixed income exchange-traded fund managers to run European fixed income, following the departure of Nick Pierce
who has left the $3 trillion fund manager after nearly four years in the role.
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Source: Financial News
New ETF Listing on Euronext-Lyxor
June 12, 2015--Euronext is pleased to announce that LYXOR INTERNATIONAL AM will list 2 new ETFs on 16/06/2015:
ISIN: LU1237527160
ETF Trading name: LYXOR FTSE EU MVR
ETF Symbol: MVAE
Venue: Euronext Paris
Underlying index: FTSE Developed Europe Minimum Variance Index
TER (%):0,20
ISIN: LU1237527673
ETF Trading name: LYXOR FTSE MINV EM
ETF Symbol: MVAM
Venue: Euronext Paris
Underlying index: FTSE Emerging Minimum Variance Index
TER (%): 0,40
Euronext now offers 643 ETFs listed on the European markets.
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Source: Euronext
Fund mergers weigh on State Street's European profits
June 12, 2015--US asset manager State Street Global Advisors suffered a 28% drop in profits from its European business last year, partly due to the administrative costs of a tidying up of its exchange-trade funds operation.
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Source: Financial News
ESAs consult on margin requirements for non-ce‎ntrally cleared derivatives
June 10, 2015--The European Supervisory Authorities (ESAs) launched today a second consultation on draft Regulatory Technical Standards (RTS) outlining the framework of the European Market Infrastructure Regulation (EMIR).
This second consultation document is the result of an intense engagement with other authorities and the industry stakeholders in order to identify all the operation issues that may arise from the implementation of such framework. Therefore, the consultation focuses only on a narrow set of topics as most of the decisions have already been agreed following the first consultation held in April 2014. The consultation runs until 10 July 2015.
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Source: ESMA
EU business confidence in China at new low: survey
June 10, 2015-European companies are losing confidence in China's economy, a lobby group survey said on Wednesday' with many firms planning to lay off staff as Beijing struggles to boost growth and embarks in an anti-monopoly drive.
From car makers to wine growers to tech firms, Europeans have for years looked to China to bolster sales as growth prospects back home have flagged.
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Source: EUbusiness
World Bank: European Union's and Croatia's Recovery Is Strengthening, albeit Slowly and with Significant Risks
To make the recovery sustainable, Europe needs to continue reforms to promote exports and investment, create jobs, and protect the vulnerable
June 10, 2015--Economic growth is expected to continue to pick up across the European Union (EU), from zero in 2013 and 1.3 percent in 2014, to 1.8 percent and 2.0 percent in 2015 and 2016 respectively.
Most Central and eastern European countries (EU-CEE) will continue to grow above the European average, with growth expanding over 2.4 percent in 2015, based on robust consumer demand, the gradual return of investment, and continued export growth, says the new World Bank EU Regular Economic Report presented today in Zagreb.
view the EU Regular Economic Report-MODEST RECOVERY, GLOBAL RISKS
Source: World Bank
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