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FCA sets out next steps to improve competition in the UK's asset management industry
April 5, 2018--The Financial Conduct Authority (FCA) has today published the latest step in its response to the concerns identified through its asset management market study.
This is part of a package of remedies to ensure fund managers compete on the value they deliver, and act in the interests of the millions who entrust them with their savings.
Today's publications include:
Final rules following a previous consultation, focused on the duties of fund managers as the agents of investors in their funds
A consultation on proposed rules and guidance, focused on improving the information that investors get about funds.
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Source: Financial Conduct Authority (FCA)
Two new VanEck Vectors ETFs with access to high yield bonds launched on Xetra
April 5, 2018--Two new exchange traded funds issued by VanEck Vectors have been tradable on Xetra and Börse Frankfurt since Thursday.
The VanEck Vectors Emerging Markets High Yield Bond UCITS ETF-USD A gives investors access to fixed-income corporate bonds and quasi-government debt securities from emerging markets that are denominated in US dollars.
The bonds have a sub-investment grade rating, a minimum term of twelve months and are listed on a US or Eurobond market.
The VanEck Vectors Global Fallen Angel High Yield Bond UCITS ETF-USD A offers investors access to the performance of high-yield corporate bonds and quasi-government debt securities that have been downgraded to a sub-investment grade rating. The instruments may be denominated in US dollars, Canadian dollars, pounds sterling or euros and are listed on a US or Eurobond market.
Name: VanEck Vectors Emerging Markets High Yield Bond UCITS ETF-USD A
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Source: Deutsche Börse Cash Markets
Zwei neue VanEck Vectors-ETFs mit Zugang zu Hiqh Yield Anleihen auf Xetra gestartet
05. Apr 2018--Seit Donnerstag sind zwei neue Exchange Traded Funds des Emittenten VanEck Vectors öber Xetra und Börse Frankfurt handelbar.
Mit dem VanEck Vectors Emerging Markets High Yield Bond UCITS ETF-USD A erhalten Anleger Zugang zu festverzinslichen, auf US-Dollar lautenden Unternehmensanleihen und quasi-staatlichen Schuldinstrumenten aus Schwellenländern.
Die Anleihen weisen ein Rating unterhalb Investment Grade auf, verfögen über eine Laufzeit von mindestens zwölf Monaten und sind auf einem US-oder Eurobond-Markt notiert.
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Source: Deutsche Börse Cash Markets
Boerse Stuttgart records turnover in excess of EUR 6.4 billion in March
April 4, 2018--Trading volume of leverage products up year on year
According to its order book statistics, Boerse Stuttgart generated turnover in excess of EUR 6.4 billion in March 2018.
Securitised derivatives made up the largest share of the turnover. The trading volume in this asset class was more than EUR 3 billion. Leverage products accounted for around EUR 1.9 billion of this figure-a year-on-year increase of 26 percent-while investment products contributed around EUR 1.2 billion to the total turnover.
In equity trading, the order book turnover totalled around EUR 1.5 billion in March, of which German equities accounted for EUR 1.1 billion and international equities around EUR 350 million.
The turnover from debt instrument trading amounted to around EUR 863 million. Corporate bonds made up the largest share of the turnover, at around EUR 653 million.
The order book turnover in exchange-traded products (ETPs) in March was in the region of EUR 903 million. Turnover in investment fund units was around EUR 116 million.
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Source: Boerse Stuttgart
ETFGI reports ETFs and ETPs listed in Europe gathered net inflows of 9.90 billion US dollars during February 2018, the lowest amount since December 2017
April 4, 2018--ETFGI, a leading independent research and consultancy firm on trends in the global ETF/ETP ecosystem, reported today that ETFs and ETPs listed in Europe gathered US$9.90 billion in net inflows during February 2018, the lowest monthly amount since December 2017 when net inflows were US$1.77 billion. Year-to-date net inflows for 2018 reached US$25.9 billion at the end of February. (All dollar values in USD unless otherwise noted.)
Highlights
Net new assets gathered by ETFs/ETPs listed in Europe were $9.90 Bn, the lowest monthly net inflows since December, which saw $1.77 Bn
Due to market moves assets invested in ETFs/ETPs listed in Europe decreased by 2.84%, or $24.3 Bn, during February, to $832 Bn
February 2018 marked the 41st consecutive month of net inflows into ETFs/ETPs listed in Europe.
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Source: ETFGI
IMF-Luxembourg : Selected Issues
April 3, 2018--IMPACT OF MONETARY POLICY ON LUXEMBOURG1
Accommodative monetary policy has contributed to the performance of the Luxembourg economy through some expansion of aggregate demand and through its impact on the financial system. Banks have remained profitable and interest margins stable, while fee and commission income from fund and other activity has been healthy. The investment fund industry has benefited from various factors such as portfolio rebalancing, search for yield, and other market developments leading to strong inflows into various classes of investment funds, and through strong valuation effects.
Scenario analysis suggest that the fund industry could be adversely impacted by sharp interest rate increases and that, because of interconnections, the banking system would also be affected. Margins of some banks could also decline when interest rate normalize. Against this backdrop, it is important to mplement all 2017 FSAP recommendations that will contribute to making the financial system more resilient to shocks, including those arising from faster-than-expected monetary policy normalization.
A. Introduction
1. Monetary policy has been in exceptional territory since the global financial crisis, thereby supporting aggregate demand. While short-term interest rates reached the lower bound,
various unconventional monetary policies were implemented by the ECB and by the Federal Reserve System (Fed), including long-term refinancing operations, asset purchase programs, outright monetary transactions, negative interest rates on the deposit facility driving short-term rates into negative territory, and novel communication tools such as forward guidance.
view the IMF-Luxembourg : Selected Issues report
Source: IMF
Cash markets achieve turnover of EUR 165.1 billion in March
April 3, 2018--Trading volume in the first quarter 33 percent higher year-on-year
Deutsche Börse cash markets achieved a turnover of €165.1 billion in March (2017: €135.7 billion). In the first quarter of 2018, the trading volume was €480.1 billion-an increase of around 33 percent compared with the first three months in 2017 with €361.5 billion.
Of the €165.1 billion, €152.2 billion were attributable to Xetra (March 2017: €123.6 billion). The average daily turnover on Xetra was thus €7.2 billion. Order book turnover on Börse Frankfurt totalled €3.7 billion (March 2017: €4.3 billion) and on Tradegate Exchange €9.2 billion (March 2017: €7.8 billion).
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Source: Deutsche Börse Cash Markets
Solactive AG acquires FinTech Primervoto GmbH in Berlin
April 3, 2018-- Solactive is excited to announce that it has completed the acquisition of Primervoto, its long-standing technology partner
The transaction was closed on the 29th of March 2018, and sees the full integration into Solactive AG of a team of 38 technology specialists, based in Berlin. The Primervoto team has played a key part in Solactive's success story as it has been instrumental to the delivery of highly scalable IT-solutions for real-time calculations of financial indices since 2010. The financial terms of the transaction remain undisclosed.
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Source: Solactive AG
220-Year-Old German Bank Mulls Robo-Adviser for Companies
April 3, 2018--220-year-old Hamburg-based private bank M.M.Warburg & CO, which now uses an online asset manager to also attract private clients with smaller wallets, might expand this offer to semi-institutional customers by the end of the year, according to investment chief Christian Jasperneite.
The company's so-called Warburg Navigator, which was launched last year, accepts private clients with a minimum investment of just 20,000 euros. For a fee of 1.2 percent, the bank handles the investment of assets, such as ETFs and actively managed funds.
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Source: bloombergquint.com
ESMA proposes simplifications to prospectuses format and content
April 3, 2018--The European Securities and Markets Authority (ESMA) is publishing the first Part of its Technical Advice (TA) under the Prospectus Regulation. The TA is published in response to a mandate from the European Commission (EC) of 28 February 2017, and has been developed following extensive consultation with the public through three Consultation Papers published on 6 July 2017.
ESMA submitted the TA to the EC on 28 March 2018 in line with the deadline indicated in the mandate.
The TA covers the areas of format and content of prospectus, the EU growth prospectus and the scrutiny and approval of prospectus.
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Source: ESMA
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