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Pimco drops out of top-10 asset management brands in Europe
March 29, 2015--Pimco has dropped out of a coveted list of the top 10 asset management brands in Europe.
This comes after a difficult 2014 for the world's largest bond house during which its founder, Bill Gross, departed and €236bn of net assets flowed out of the company.
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Source: FT.com
Source announces changes to management team
March 27, 2-15--Source, an investment firm and one of the market-leading European providers of Exchange Traded Products (ETPs), announces two significant changes to its management team.
Jim Polisson has been appointed as its new Chief Marketing Officer. Jim is a seasoned veteran of the ETF business with a wealth of experience built up in his roles as Global Head of Marketing for iShares from 2000 to 2009 and most recently as CEO of Russell ETFs.
CEO Ted Hood who launched the company together with Peter Thompson in 2009 will be leaving the company at the end of March as the company accelerates its growth programme.
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Source: Source ETFs
ESMA-Draft technical standards under Article 10a(8) of MiFID on the assessment of acquisitions and increases in qualifying holdings in investment firms
March 27, 2015--Summary
Article 10b(4) of the Markets in Financial Instruments Directive (MiFID ) requires Member States to make publicly available the information necessary to carry out the assessment of a proposed acquirer of an investment firm.
This information must be provided by the proposed acquirer at the time of the initial notification. This information is aimed at ensuring that competent authorities are provided with adequate and proportionate information in order to assess the acquisition.
Article 10a of MiFID, as amended by Article 6(4) of the Omnibus Directive, requires ESMA to draft:
IMF Working paper-Spillovers in the Nordic Countries
March 27, 2015--Summary: Denmark, Finland, Norway, and Sweden form a tightly integrated region which has strong ties with the euro area as well as some exposure to Russia.
Using the IMF's Global Integrated Monetary and Fiscal model (GIMF), we examine spillovers the region could face, focusing on possible scenarios from the rest of the euro area and Russia, and the fall in global oil prices. We show that the spillovers from these scenarios differ in magnitude and impact, regardless of the high degree of integration among the four Nordic economies. These differences are driven by the fact that Denmark and Finland have no independent monetary policy, and Denmark and Norway are net energy exporters while Finland and Sweden are energy importers. We infer lessons for policy from the outcomes.
view the IMF Working paper-Spillovers in the Nordic Countries
Source: IMF
Central banks call for lower capital requirements on top-quality pooled debt
March 27, 2015-Bonds based on high-quality loans should benefit from lower capital requirements to kick-start the market in Europe, the Bank of England and European Central Bank (ECB) said on Friday.
The two central banks were responding to plans from the European Union's executive, the European Commission, to revive the asset-backed securities (ABS) market to improve funding for companies.
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Source: Reuters
Russia business sentiment bounces back in March
March 27, 2015--Russian business sentiment improved in March from a record low in the previous month, although a further decline in orders suggests that the recovery may be short-lived, according to the MNI Russia Business Sentiment Indicator.
The MNI Russia Business Sentiment Indicator rose by 16.2% to 48.8 in March from 42.0 in February. In spite of the rise, almost 85% of our panel thought that overall business conditions had not changed since February, with only 7% of respondents reporting that they had improved.
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Source: ftseglobalmarkets.com
Vanguard chief plans two-pronged UK retail market assault
March 27, 2015--US asset management giant Vanguard is weighing up a two-pronged assault on the UK's growing retail investment market,
its chief executive told Financial News, with a funds platform and personal advice service in the offing.
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Source: Financial News
Unscheduled adjustment in MDAX: CTS Eventim AG & Co. KGaA to replace TUI AG
March 27, 2015--Deutsche Börse today announced adjustments to its indices MDAX and SDAX.
Upon request of the company, the shares of TUI AG will be delisted from the Prime Standard of the Frankfurt Stock Exchange. The Executive Board of the Frankfurt Stock Exchange is expected to decide on this request on 31 March 2015. Subject to its approval the following changes will become effective on 1 April 2015.
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Source: Deutsche Börse
London launches Europe's first yuan money market fund
March 26, 2015--The London Stock Exchange has launched a yuan-denominated money market fund, allowing investors direct access to the Chinese interbank lending market.
The newly listed Exchange Traded Fund (ETF) is the first in Europe to offer both institutional and retail investors exposure to money market instruments that invest in the China Interbank Bond Market (CIBM) via Germany's Commerzbank and CCB International (CCBI), a subsidiary of China's second largest lender, China Construction Bank (CCB).
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Source: International Business Times
Monetary Developments in the Euro Area
March 26, 2015--The annual growth rate of the broad monetary aggregate M3 increased to 4.0% in February 20151,
from 3.7% in January 2015 (revised down from the previous release)2.
The three-month average
of the annual growth rates of M3 in the period from December 2014 to February 2015 increased to 3.8%, from 3.5% in the period from November 2014 to January 2015.
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Source: ECB
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