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EU in agreement on rebates ban for advisers
December 17, 2013-- A political agreement has been reached that will force EU member states to implement a ban on inducements for independent financial advisers.
Asset managers have been waiting over a year for final rules governing rebates paid to IFAs after the European Parliament voted to include a potential ban under the Markets in Financial Instruments Directive II during a plenary vote in October last year.
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Source: FT.com
Borsa Italiana: ETFstat November 2013
December 17, 2013-- New Listing
In November 2 new ETFs and 2 new ETCs were listed bringing to 826 the number of instruments listed on ETFplus market (653 ETFs and 173 ETCs/ETNs)
Trading
Borsa Italiana in November has confirmed its leadership in Europe* for number of trades on eletronic platform in ETFs, the ranking has been lead since 2005
Also in November Borsa Italiana was the second European Exchange* for on book turnover with a market share of 18.62%, up by 10% compared to November 2012
AUM
At the end of November 2013, the Asset Under Management (AUM) deposited in Italy set a new historical record reaching 26.389 bn of Euros (24.443 bn of Euros for ETFs and 1.946 for ETCs) with a grow of 27.35% compared to the end of 2012
Inflows
During 2013, the ETFs listed on ETFplus market set a total net inflow of 5.133 bn of Euros, representing the 31.38% of total European inflows
*Data source: FESE and LSEG - only electronic order book considered
Source: Borsa Italiana
Boost-Index flows back bullish positioning in Eurozone and Japan equities
December 17, 2013--Summary
Index investors remain overwhelmingly bullish on equities, despite the correction this month. Upbeat risk sentiment is marked by continual flows into Eurozone and Japan equity ETFs
The growing support for equities provided by index investors may overwhelm active investors seeking to take profits and reverse December’s decline
Helped by the rising risks to bond markets and lack of momentum in precious metals, the upbeat sentiment in equities may stay biased towards Eurozone and Japan and extend into the final weeks of the year
Investors who share this sentiment may consider the following positions in equities and commodities (www.boostetp.com/products):
Long positioning equities:
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Source: Boost
Deutsche, Harvest ready London RQFII ETF
December 16, 2013--Deutsche Asset & Wealth Management and Harvest Global Investments plan to list the exchange-traded fund in Europe, initially in London.
January 16 is said to be the target date.
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Source: Asian Investor
Big-name dealers back LSE and BlackRock ETF push
December 16, 2013--The London Stock Exchange Group has secured the backing of a raft of influential dealers and market-makers for a new type of exchange-traded fund, as efforts to improve liquidity in Europe's fragmented ETF market gather pace.
Bank of America Merrill Lynch, Barclays, Citigroup, Susquehanna and Goldenberg Hehmeyer have commenced marketmaking for a new ETF segment the LSE launched today in conjunction with BlackRock, according to market notices.
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Source: Financial News
EBA publishes outcome of 2013 EU wide transparency exercise
December 16, 2013--The European Banking Authority (EBA) disclosed today updated information on 64 European banks from 21 countries of the European Economic Area (EEA). The data covers the first half of 2013 and is based on 730,000 data points including capital, Risk Weighted Assets (RWAs) and sovereign exposures.
Through this disclosure exercise, the EBA aims to promote greater understanding of capital positions and exposures of EU banks, thus contributing to market discipline and financial stability in the EU.
Main outcomes
The data released by the EBA showed a continued positive trend in EU banks' capital position: Core Tier 1 (CT1) increased by more than EUR 80 bn between December 2011 and June 2013; combined with a reduction of EUR 817 bn in RWAs, this led to an improvement of the CT1 ratio by 170 bp, from 10% to 11.7%.
view the EU-wide transparency exercise
Source: EBA (European Banking Authority)
Eurozone business activity rises but France lags: PMI data
December 16, 2013--Business activity in the 17-nation eurozone ticked up in December, but the recovery is uneven and weak French data of particular concern, a key survey showed on Monday.
Markit Economics' said its Eurozone Composite Purchasing Managers Index (PMI) for December rose to 52.1 from 51.7 in November.
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Source: EUbusiness
ETF innovator to launch CoCo financials fund
December 16, 2013--Hans Günther Bonk-the co-founder of IndexChange, the legacy ETF business that later became the foundation of iShares' German operation - is launching a fund investing in the subordinated debt and contingent convertibles of banks and insurers.
It's expected that many more banks will start issuing these kinds of financial securities in the next years under pressure from regulators to build capital ratio. Bonk's fund follows Pimco and TwentyFour Asset Management, which have also announced funds to buy bank debt in the belief that it will rise in value as banks continue to repair their balance sheets.
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Source: Financial News
iShares lists Ucits ETF in London
December 16, 2013--iShares has listed a Ucits exchange-traded fund (ETF) tracking the shares of the Euro Stoxx 50 index with the exception of financials on the London Stock Exchange.
The iShares Euro Stoxx 50 ex-financials Ucits ETF will invest blue chip stocks of 12 eurozone countries but avoid financial companies, such as banks and insurers.
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Source: Funds Europe
The future is physical, says Deutsche AWM
December 15, 2013--Massive outflows from Deutsche Asset and Wealth Management's exchange traded funds operations this year have forced Europe's second-largest ETF provider to make radical changes to its business model.
The change-as reported in FTfm last week-will see DeAWM convert 18 derivative-linked "synthetic" equity ETFs with assets of around €9.5bn to "physical" funds that buy the assets of an underlying index.
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Source: FT.com
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