Monday Morning Memo: Index Funds Are On the Rise-continued

October 7, 2019--With the rise of ETFs, index mutual funds had been out favour with European investors until the year 2015. But even as index funds got some positive momentum since 2016, ETFs still experienced higher inflows.
While I was analysing the year-to-date flows at the end of August, I was surprised that index funds (+€52.5 bn) enjoyed higher estimated net inflows than ETFs (+€42.8 bn), as this means that index funds have been the passive investment vehicle of choice for European investors so far for 2019. If this trend continues until the end of the year, they will beat ETFs in terms of net inflows for the first time in history.

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Source: Refinitiv

Europe ETP News
GraniteShares enters the UK Market offering short and leveraged single stock daily ETPs with Solactive Indices
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Brexit 'Paralysis' Leads Moody's to Lower Outlook on U.K. Debt
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European Commission-Autumn 2019 Economic Forecast: A challenging road ahead
November 7, 2019--The European economy is now in its seventh consecutive year of growth and is forecast to continue expanding in 2020 and 2021. Labour markets remain strong and unemployment continues to fall. However, the external environment has become much less supportive and uncertainty is running high. This is particularly affecting the manufacturing sector, which is also experiencing structural shifts.
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Italy surpasses Greece as euro area's riskiest borrower
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BOE-Monetary Policy Report-November 2019
November 7, 2019--In a nutshell:
Growth has slowed in the UK and abroad
Inflation is a little below our 2% target UK and EU flags
Brexit uncertainty has been high
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Deutsche Bank appoints global head of Wealth Management
November 4, 2019--Deutsche Bank has appointed Claudio de Sanctis as global head of Deutsche Bank Wealth Management, succeeding Fabrizio Campelli who joins the group Management Board as chief transformation officer.
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Solactive appoints Head of Product Development and announces further evolution of Management Structure
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ESMA report sees decrease in prospectus activity for 2018
October 31, 2019--The European Securities and Markets Authority (ESMA), in its annual report on prospectus activity, reports that in 2018 the number of prospectus approvals across the European Economic Area (EEA) decreased by almost 5% compared to 2017 (from 3,567 to 3,390).
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Climate change: Significant drop in EU emissions in 2018 but further effort needed to reach 2030 target
October 31, 2019--The European Union (EU) cut its greenhouse gas (GHG) emissions by 2% in 2018, according to preliminary estimates released today by the European Environment Agency.
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Brexit deal would leave Wales-sized hole in UK economy, experts warn
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Euro area economic and financial developments by institutional sector: second quarter of 2019
October 29, 2019--Euro area net saving increased to €828 billion in the four quarters to the second quarter of 2019, compared with €824 billion in the four quarters to the previous quarter.
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ECB-Monetary developments in the euro area: September 2019
October 28, 2019-Annual growth rate of broad monetary aggregate M3 decreased to 5.5% in September 2019 from 5.8% in August (revised from 5.7%)
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Brexit update: EU agrees to extension as UK election looms
October 28, 2019--The European Union agreed to grant the UK a three-month Brexit delay to January 31, removing the risk of a damaging no-deal split on Thursday as the British government tries to end the impasse in Parliament.
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European Commission-Juncker Plan has made major impact on EU jobs and growth
October 22, 2019--The Investment Plan for Europe, the Juncker Plan, has played a key role in boosting jobs and growth in the EU. Investments by the European Investment Bank (EIB) Group backed by the Juncker Plan's European Fund for Strategic Investments (EFSI) have increased EU gross domestic product (GDP) by 0.9% and added 1.1 million jobs compared to the baseline scenario.
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ECB-Euro area monthly balance of payments: August 2019
October 18, 2019--In August 2019 the current account of the euro area recorded a surplus of €27 billion, compared with a surplus of €22 billion in July 2019.
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Official Statistics: Forecast for the UK economy: October 2019
October 16, 2019--A comparison of independent forecasts for the UK economy in October 2019.
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Monday Morning Memo: Review of the European ETF Market, September 2019
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New WisdomTree ETF on Xetra: Cloud technology companies
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The WisdomTree Cloud Computing UCITS ETF-USD Acc gives investors the opportunity to invest in cloud technology companies. The ETF aims to track the price and return performance of the BVP Nasdaq Emerging Cloud Index before fees and expenses.
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LuxSE releases Guide to ESG Reporting
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