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S&P GSCI recovers 5.56 per cent in February
March 4, 2010--The S&P GSCI, a commodities index, increased 5.56 per cent in February after falling 7.89 per cent in January.
The index was led higher during the month by energy: the S&P GSCI Energy Index gained 6.92 per cent in February.
The strategy revolves around promoting low-carbon industries, investing in efforts to develop new products, unleashing a digital economy and modernising education and training. Five quantitative targets are proposed, including increasing the employment rate to at least 75% from the current 69% and boosting spending on research and development to 3% of gross domestic product - it is currently only 2% of GDP, significantly less than in the US and Japan. Likewise, the plan reaffirms the EU's ‘20/20/20' climate change goals - already among the most ambitious in the world - and proposes a poverty reduction target of 25%, estimating that this would lift 20 million people out of poverty.
Turning to education, the commission recommends efforts to cut the school dropout rate to below 10% from the current 15% and to expand the share of people in their early 30s with a university degree (to 40% from 31%).
The paper proposes that governments agree on national targets that would take account of conditions in each country while helping the EU as a whole achieves its goals. The commission will monitor progress and issue warnings in cases of "inadequate response."
The EU already tracks public finances to prevent imbalances that could undermine the eurozone. The new plan would go beyond that to include other issues that could undermine EU-wide competitiveness.
The strategy identifies seven flagship initiatives the EU should take to boost growth and employment. These include programmes to improve conditions and access to finance for R&D, speed up the roll-out of high-speed internet and increase the use of renewable energy.
Government leaders are expected to debate the overall approach at the meeting later this month. The details, including national targets, would the subject of a summit later this year, possibly in June. Europe 2020
Eurozone will survive despite Greek financial crisis
Of those who responded, 79% feel the eurozone will remain intact with only 21% of the view that the situation in Greece will trigger the collapse of the union of 16 countries.
“The threat of a potential domino effect within the eurozone should be sufficient for the group to come up with a workable solution, for the time being at least.”
“The euro has always been a political project rather than a financially pragmatic one. For this reason its members will not allow it to collapse, even if this comes at a great cost.”
“It will not collapse immediately because there is too much political capital invested in it. In the long term, Germany will probably not be interested in taking the steps to save it.”
Leading commentators across Europe have warned the future of the zone is at risk. They include Carl Heinz Daube, head of the German debt management agency, who warned that if any member country defaulted on its debt, the eurozone would break up. Ireland follows UK path for pension reforms < a href="http://www.pensionsgreenpaper.ie/downloads/NationalPensionsFramework.pdf" TARGET="_top">view the National Pensions Framework paper
Coming on the heels of the longest and deepest recession in EU history, the much-anticipated Europe 2020 plan acknowledges the huge challenges ahead. The economic crisis has exposed deep flaws in an economy already under strain from globalisation, pressures on resources and an ageing population. The commission's position is that these can be overcome if Europe is willing to embrace transformation to a greener, more innovative market that fosters social wellbeing.
Source: European Commission
March 3, 2010--Nearly eight out of ten financial services practitioners believe the eurozone will survive despite the strain of the Greek financial crisis, a survey by the Chartered Institute for Securities & Investment (CISI) shows.
Comments from those taking part in the CISI survey included:
Source: Chartered Institute for Securities & Investment (CISI)
March 3, 2010--The Irish government has unveiled plans for a pension framework which will require the auto-enrolment of all employees aged 22 or over from 2014, along with matching contributions from the employer, and State contributions equal to 33% tax relief. The State retirement age will also be increased to 68 by 2028.
Among the key proposals set out, the government said defined benefit pension schemes can expect stronger regulation and employees will be given access to defined contribution (DC) Approved Retirement Funds.
Source: IP&E
db x-trackers baut Produktpalette im Bereich
March 3, 2010--db x-trackers hat den db x-trackers II iBoxx EUR Liquid
Corporate 100 Total Return Index ETF an der Deutschen Börse lanciert und
erweitert damit seine bestehende Produktpalette im Bereich der Indizes auf
Unternehmenskredite
db x-trackers will mit diesem ETF seine Führungsposition im Bereich Liquidität
(Quelle: Xetra, Dezember 2009) auf den Markt für ETFs auf Unternehmensanleihen
ausweiten. Der neue ETF bildet den iBoxx EUR Liquid Corporate 100 Index® ab, der wiederum die Wertentwicklung von bis zu 100 auf Euro lautenden
Unternehmensanleihen reflektiert. Wie alle ETFs der db x-trackers Palette verfolgt auch der neue die innovative Struktur der synthetischen Replikation der Indexrendite und reduziert so die Abweichung zum zugrunde liegenden Index (Tracking Error) auf
ein Minimum. Durch die synthetische Replikation eliminiert dieser ETF viele der
Performance-, Tracking- und Liquiditätsunsicherheiten von ETFs auf
Unternehmensanleihen, die ihren Benchmarkindex durch eine Investition in die einzelnen Indextitel abbilden. Der ETF soll sich mit Hilfe der Deutschen Bank als Market Maker als einer der liquidesten ETFs im Markt der Unternehmensanleihen
etablieren. Im Rahmen des Market Makings wird darauf abgezielt die
Preisquotierungen grundsätzlich sehr zuverlässig am fairen Wert des ETFs
auszurichten.
Insgesamt bietet db x-trackers nun in Deutschland 33 börsengelistete Renten-ETFs an. Mit dem db x-trackers II EONIA Total Return Index ETF stellt db x-trackers bereits den liquidesten ETF (gemessen am Xetra Liquiditätsmaß XLM), sowie den meist gehandelten ETF auf Xetra (Quelle: Xetra, Dezember 2009).
ETF auf den iBoxx EUR Liquid Corporate 100 Index®: Der ETF hat eine Pauschalgebühr von 0,20 Prozent p.a. und bildet, über den iBoxx EUR Liquid Corporate 100 Index®, die Wertentwicklung von bis zu 100 auf Euro lautenden liquiden Unternehmensanleihen ab, unter Berücksichtigung von im Index enthaltenen Neugewichtungskosten.
Der Index umfasst ausschließlich auf Euro oder eine Altwährung lautende endfällige Festzinsanleihen, der Geschäftssitz des Emittenten spielt dabei keine Rolle. Alle Anleihen müssen an den halbjährlichen Neugewichtungstagen eine Restlaufzeit von mindestens zwei Jahren aufweisen, neu in den Index aufgenommene Anleihen müssen des Weiteren eine Restlaufzeit von mindestens drei Jahren haben. Alle Anleihen müssen ein ausstehendes Volumen von mindestens EUR 750 Mio. aufweisen und das ausstehende Volumen einer Anleihe wird zur Berechnung ihrer Gewichtung innerhalb des Index verwendet. Barmittel aus Kuponzahlungen und nicht ersetzten Anleihen werden in den Index reinvestiert. Der iBoxx EUR Liquid Corporate 100 Index® ist breiter diversifiziert und zeigte über die letzten 3 Jahre eine bessere Performance als die meisten von anderen ETF Anbietern verwendeten Indizes auf Unternehmensanleihen.1
Überblick über den neuen db x-trackers ETF
db x-trackers II ETF auf: IBOXX EUR LIQUID CORPORATE 100 INDEX®
Währung: Euro (EUR)
Pauschalgebühr (p.a.):0.20%
ISIN:LU0478205379
Source: db x-trackers
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