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ETF Landscape: European STOXX 600 Sector ETF Net Flows, week ending 16-Apr-10
April 21, 2010--Highlights
Last week saw US$35.1 Mn net inflows to STOXX 600 sector ETFs. The largest sector ETF inflows last week were in Industrial Goods & Services with US$26.6 Mn and Retail with US$20.0 Mn while Basic Resources experienced net outflows of US$41.2 Mn.
Year-to-date, Media has had the largest net inflows with US$339.9 Mn net new assets, followed by Utilities with US$76.6 Mn YTD.
Telecommunications sector ETFs have had the largest net outflows with US$256.5 Mn YTD. In total, STOXX 600 sector ETFs have seen US$39.1 Mn net inflows YTD.
The assets invested in the ETFs are greater than the open interest in the corresponding futures contract in 18 out of 19 sectors. The data required to produce the flow analysis is available by Tuesday evening which means the earliest this publication can be distributed is on Wednesdays.
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Source: Global ETF Research & Implementation Strategy Team, BlackRock
Turkey to lead global recovery as it regains confidence
April 22, 2010--Turkey will be one of the countries to lead a “faster-than-anticipated” recuperation in global markets thanks to its growing domestic confidence amid efforts to rebound from the 2009 global credit crunch, the International Monetary Fund (IMF) has said.
Having raised its growth forecast for Turkey in a "World Economic Outlook" report released on Wednesday, the IMF has predicted that the Turkish economy will grow by 5.2 percent in 2010, higher than the 3.7 percent forecast in its October report.
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Source: Todays Zaman
Minister: Constitutional reform will attract investors
April 22, 2010--Industry and Trade Minister Nihat Ergün has said passage of a constitutional reform package currently being debated in Parliament would be conducive to an atmosphere attractive to domestic and global investors, stressing the close relationship between political stability and the economy.
“From consumers to global investors, all actors in the economy are following these developments closely, for they care about long-lasting stability. Since the implementation of constitutional change will also bring permanence to stability, obstacles in front of economic activities will be removed,” he told Today’s Zaman.
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Source: Todays Zaman
Provision of deficit and debt data for 2009 - first notification Euro area and EU27 government deficit at 6.3% and 6.8% of GDP respectively Government debt at 78.7% and 73.6%
April 22, 2010--In 2009, the government deficit1 and government debt1 of both the euro area2 (EA16) and the EU27 increased compared with 2008, while GDP fell.
In the euro area the government deficit to GDP ratio increased from 2.0% in 20083 to 6.3% in 2009, and in the EU27 from 2.3% to 6.8%. In the euro area the government debt to GDP ratio increased from 69.4% at the end of 2008 to 78.7% at the end of 2009, and in the EU27 from 61.6% to 73.6%.
View tables on actual and potential impact on government deficit and debt, by Member State
Source: Eurostat
db x-trackers launches seven daily leveraged ETFs
April 22, 2010--db x-trackers, Deutsche Bank's exchange-traded fund platform, is launching seven daily two times leveraged ETFs across Europe.
Three of the ETFs track daily leveraged short indices and four track daily leveraged long indices from recognised index providers.
The three daily leveraged short ETFs track indices that provide two times daily inverse exposure to the Dax, Euro Stoxx 50 and S&P 500.
The four daily leveraged long ETFs track indices that provide two times daily long exposure to the Dax, Euro Stoxx 50, FTSE 100 and S&P 500.
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Source: ETF Express
RiskMetrics’ Kjaer appointed to Irish reserve fund commission
April 22, 2010--Knut Kjaer, the president of RiskMetrics and the former chief executive of Norges Bank Investment Management, has been appointed to the body which oversees Ireland’s €22.3bn National Pensions Reserve Fund (NPRF).
Irish Finance Minister Brian Lenihan announced Kjaer’s appointment to the National Pensions Reserve Fund Commission in a statement today, along with the reappointment of existing member John Canning, the former chairman of the Federal Reserve Bank of Chicago.
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Source: Responsible Investor
Bank of Ireland Securities Services celebrates supporting ETFs for a decade with the launch of the world’s first Persian Gulf listed ETF
April 22, 2010--Bank of Ireland Securities Services (BoISS) has celebrated ten years in the ETF market with the launch of the world’s first ETF listed in the Persian Gulf. Working closely with the National Bank of Abu Dhabi and the Abu Dhabi Securities Exchange, BoISS has again demonstrated its leading position as a pioneer in ETF product development.
The NBAD OneShare Dow Jones U.A.E. 25 ETF, which officially launched on 25th March, combines the 25 most traded stocks on the ADX General Index, the DFM General Index and Nasdaq Dubai. The shares must have a daily traded value of $500,000 to be included in the ETF. The ETF has an Irish UCITS III wrapper, with Bank of Ireland as custodian.
An exchange-traded fund, or ETF, is an investment product representing a basket of securities that track an index. ETFs, which are available to individual investors only through brokers and advisers, trade like securities on an exchange.
Commenting on the launch, Fearghal Woods Director of Business Development said “As a leading service provider to ETFs, we are delighted to support the National Bank of Abu Dhabi and the Abu Dhabi Securities Exchange on this ground breaking and exciting initiative. We recognise the importance of developing new markets and breaking down barriers which have prevented investors’ access to new products in these regions.”
The most significant benefits that ETFs offer to investors are that they are low cost, liquid, transparent and offer portfolio diversification. Alan Durrant Chief Investment Officer at National Bank of Abu Dhabi said that “National Bank of Abu Dhabi is proud to have launched the very first equity ETF to be listed in the Gulf region. We believe that this represents a significant step forward in providing liquid, transparent ways for both local and international investors to access the opportunities that are available in our market. We are very grateful to all of our partners who helped to build this history-making product and would like to thank Bank of Ireland Securities Services for their ongoing support.”
Head of European Business Development at BoISS, Paul Heffernan, noted that “our experience in advising and supporting ETF Issuers is unrivalled in the market. We continue to enhance our service offering to deliver the most efficient and effective product solutions to market for our client base. Our proprietary ETF settlement platform, ETP Direct, was a significant catalyst which enabled us to bring products to this new ETF market. It is also a significant benefit to investors in the ETF who have the ability to hold the shares in their local settlement system irrespective of the exchange the funds are primary listed on. Through our technology and people, we will continue to position our business as a pioneer of ETF product development.”
ETP Direct is a multi-domicile ETF settlement platform for ETF issuers. The product is designed to permit ETFs to settle delivery against payment directly in multiple jurisdictions across the EU, Middle East and Asia. The platform streamlines the trading activities of ETF market makers through reducing costs, minimising risks and improving timeliness of settlement.
Source: Bank of Ireland (BoISS)
NYSE Liffe: Early Opening following UK Election For NYSE LIFFE Benchmarks Sterling Based Financial and Equity Index Futures
April 21, 2010--Following the UK General Election on May 6th, NYSE Liffe will open its benchmark Short Sterling futures, FTSE 100 futures and Short, Medium and Long Gilt futures at 7:00pm Chicago time to begin the May 7th trading day.
This will give customers the opportunity to trade these benchmark products as the results of the UK General Election This will give customers the opportunity to trade these benchmark products as the results of the UK General Election unfold.
For moe info refer to London Notice No. 3277
Source: NYSE LIFFE
Low Carbon Investors’ founder leaves
April 21, 2010--Mark Shorrock, the co-founder and former chief executive of UK cleantech asset manager, Low Carbon Investors (LCI), has left the firm.
Low Carbon Investors is the investment manager of Low Carbon Accelerator, an AIM-listed, closed-end investment company in which the Derbyshire and South Yorkshire pension funds have sizeable investment stakes. LCI said Shorrock had left the firm “to pursue other opportunities”. Shorrock is retaining a significant minority shareholding in LCI but will have no ongoing executive or management role.
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Source: Responsible Investor
WestLB Launched as New ETN Provider on Xetra
DAX is the most important German equity index, and as the fourth largest underlying for derivatives in the world is a key equity index in the global financial markets. The DAX index is calculated by Deutsche Börse and tracks the performance of the 30 largest German companies in terms of order book turnover and market capitalization.
Deutsche Börse’s ETN segment product range currently comprises 13 instruments. In addition to the new ETN on the equities asset class, investors can also invest in ten ETNs on the currencies asset class and two on the volatility asset class. If you are looking for a particuliar article and can not find it, please feel free to contact us for assistace.
April 22, 2010--An ETN (exchange traded note) issued by WestLB has been tradable for the first time on Xetra® since Thursday. WestLB is the third issuer to join Deutsche Börse’s ETN segment. Exchange traded notes track the performance of reference indices outside of the commodities sector.
ETN name: Index Plus ETN DAX
Asset class: Equities
ISIN: DE000ETN1WL5
Management fee: none
Benchmark: DAX® Index
Source: Deutsche Börse
