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ESMA updates its Q&As regarding the Benchmark Regulation
May 23, 2019--The European Securities and Markets Authority (ESMA) has issued today an update of its Q&As on the European Benchmarks Regulation (BMR).
The new Q&As provide clarification on the following issues:
the information included in the ESMA register of administrators of benchmarks;
determination of the Member State of reference; and
the role of IOSCO principles and of external audit in the recognition of 3rd country administrators.
The purpose of this document is to promote common supervisory approaches and practices in the application of the BMR.
view the ESMA Questions and Answers On the BenchmarksRegulation (BMR)
Source: ESMA
Assets in Irish domiciled funds reach all-time high of EUR2.64 trillion
May 23, 2019--Irish Funds, the representative body for the global cross-border investment funds industry in Ireland, has reported an increase in assets in Irish domiciled funds of 9 per cent over the last quarter, to an all-time high of EUR2.64 trillion according to the latest data from the Central Bank of Ireland (CBI).
Net sales for the quarter across all funds, stood at EUR32.3 billion-of which EUR25.7 billion were into ETFs.
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Source: institutionalassetmanager.co.uk
ECB-Euro area investment fund statistics-first quarter of 2019
May 22, 2019--In the first quarter of 2019 the outstanding amount of shares/units issued by investment funds other than money market funds stood at €11,790 billion, which was €776 billion higher than in the fourth quarter of 2018.
Exchange-traded funds (ETFs) are presented separately for the first time in this press release
The outstanding amount of shares/units issued by ETFs stood at €712 billion, which was €91 billion higher than in the fourth quarter of 2018
The outstanding amount of shares/units issued by money market funds was €1,169 billion, €18 billion higher than in the fourth quarter of 2018.
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Source: ECB
JP Morgan AM launches GBP-hedged version of US Treasury ETF
May 22, 2019--JP Morgan Asset Management (JPMAM) has launched a sterling-hedged version of the JPM BetaBuilders US Treasury Bond UCITS ETF (BBTR), in response to client demand.
The JPM BetaBuilders US Treasury Bond UCITS ETF-GBP Hedged (BBTP) is listed on the London Stock Exchange with a total expense ratio (TER) of 0.10%.
BBTP will offer investors exposure to Treasury bonds across the full yield curve and will be hedged back to sterling.
BBTR was launched earlier this month with the JPM BetaBuilders EUR Govt Bond UCITS ETF (BBEG) with TERs of 0.10%.
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Source: etfstream.com
Kraneshares CSI China Internet UCITS ETF Lists on Euronext Amsterdam
May 22, 2019--The listing of KraneShares CSI China Internet UCITS EFT (Ticker: KWEB NA) in Amsterdam follows the listing on Euronext Dublin.
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Source: euronext.com
Over 27 million Euros reported lost to crypto and forex investment scams
May 21, 2019--Over £27million lost to scams involving crypto and forex investments in 2018/19
Victims lost on average over £14,600 last financial year
Reports tripled to over 1,800 from the year before
The Financial Conduct Authority (FCA) and Action Fraud (link is external) are warning the public to be wary of investment scams carried out via bogus online trading platforms.
This warning comes as cryptoassests (crypto) and forex investment scams reports more than tripled last year to over 1,800. Fraudsters promise high returns from investments in crypto and forex, with victims losing over £27 million in total in 2018/19.
How the scams work
Fraudsters often use social media to promote their 'get rich quick' online trading platforms. Posts often use fake celebrity endorsements and images of luxury items like expensive watches and cars. These then link to professional-looking websites where consumers are persuaded to invest.
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Source: fca.org.uk
Financial advice gap has widened since 2015, says report
May 21, 2019--The gulf between those in the UK with and without access to affordable financial advice has widened in the past 4yrs, according to a new study revealing that digital innovations have not been enough to help customers priced out of the market.
New digital services, known as robo-advisers, have emerged in the UK to fill that gap, but OpenMoney said that such services were not providing the personalised advice that customers need and “cannot replace the service provided by fully regulated financial advisers”.
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Source:fintech.io/
ATX index offering expanded with new short indices
May 21, 2019--The Vienna Stock Exchange starts today the calculation of new Short Indices on the leading index ATX, Austrian Traded Index. The new indices with a leverage of -12 and -15 are based on the ATX Total Return. The benchmark takes into account the dividend payments of its index members.
With this expanded offer, the Vienna Stock Exchange is responding to the demand of international market participants.The Vienna Stock Exchange calculates more than 140 tradable indices, 103 of which track national, regional or sector developments in the CEE and CIS countries. These indices serve more than 140 financial institutions worldwide as the basis for their products.
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Source: wienerborse.at
The latest European growth-rate estimates
May 20, 2019--The quarterly growth rate of the euro area in Q1 2018 was 0.4% (1.5% annualized), considerably higher than the low growth rates of the previous two quarters. This blog reviews the reaction to the release of these numbers and the discussion they have triggered about the euro area's economic challenges.
Two important announcements regarding European economic growth took place in the course of the last two weeks. First, Eurostat announced its preliminary flash estimate for real growth for the euro area and the EU in Q1 2019, on April 30th. And then, on May 7th, the European Commission published its Spring Economic Forecast.
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Source: Bruegel
Monday Morning Memo: Multi-Asset is Dead-Long Live Multi-Asset!
May 20, 2019--May 20, 2019--Multi-asset funds have been a hot topic for European investors since the aftermath of the 2008 financial crisis because there were some funds that showed very limited losses despite the rough market environment. Investor interest reached even higher after the euro crisis in 2011 as a number of funds continued to show quite a stable performance pattern.
As multi-asset funds were the best-selling asset type in Europe overall for 2017, some market observers predicted investor interested peaked that year and may not return to those levels in the foreseeable future. Despite this, even as the overall mutual fund industry in Europe faced outflows over the course of 2018, multi-asset funds were able to gather net inflows.
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Source: Refinitiv
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