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iShares lists seven new ETFs on NYSE Euronext
January 14, 2010-NYSE Euronext is pleased to announce that iShares, the Exchange Traded Fund (ETF) arm of Barclays Global Investors today has listed seven new Exchange Traded Funds (ETFs) on the Amsterdam market of NYSE Euronext. Trading began in five accumulating versions of iShares largest and most successful equity-based ETFs, that reinvest dividend income and two government bond ETFs.
The NYSE Euronext ETF segment continues to grow and is very successful both on its European and US markets. In Europe, NYSE Euronext now has 487 listings of 439 ETFs based on more than 265 indices.
Scott Ebner, Senior Vice President, European Exchange Traded Products at NYSE Euronext said: “We are very happy to include these new iShares to our ETF segment. The fast growth of the segment clearly indicates the popularity of ETFs amongst European issuers and investors. So far this year, already 97 ETFs have been listed on NYSE Euronext European markets.”
Product information:
The accumulating funds are based on five of iShares’ most successful equity-based ETFs, that pay out dividend income to investors on a periodic basis. By contrast, the accumulating funds will automatically reinvest any dividend income into the fund, rather than paying it to investors. The newly listed accumulating funds are:
• iShares MSCI Emerging Markets (Acc) – ISIN IE00B4L5YC18, Trading Symbol IEMA
• iShares S&P 500 (Acc) – ISIN IE00B4L5ZD99, Trading Symbol IACC
• iShares MSCI World (Acc) – ISIN IE00B4L5Y983, Trading Symbol IWDA
• iShares MSCI Europe (Acc) – ISIN IE00B4K48X80, Trading Symbol IMAE
• iShares MSCI Japan (Acc) – ISIN IE00B4L5YX21, Trading Symbol IJPA
The new fixed income products are:
• iShares Barclays Euro Government Bond 10 - 15 (ISIN IE00B4WXJH41, Trading Symbol IEGZ) which tracks the Barclays Capital Euro Government Bond 10 – 15-year term index and offers exposure to the performance of 10 – 15 year maturity bonds issued by EMU member states.
• iShares Barclays Euro Government Bond 5 - 7 (ISIN IE00B4WXJG34, Trading Symbol IEGY) which tracks the Barclays Capital Euro Government Bond 5 – 7-year term index and offers exposure to the performance of 10 year maturity bonds issued by EMU member states with a remaining maturity of 5 – 7 years.
Source: NYSE Euronext
ISE and Muscat Securities Market signed Memorandum of Understanding
January 15, 2010--The Istanbul Stock Exchange and Muscat Securities Market (MSM) signed a Memorandum of Understanding (MoU) in Muscat, OMAN on December 27, 2009. The MoU was signed by Mr. Hüseyin Erkan, ISE Chairman & CEO, and Mr. Ahmed Saleh Al-Marhoon, Director General of MSM.
The MoU envisages the two parties to cooperate with each other to facilitate the development of channels of communication and to foster a continuing relationship between the two parties for the benefit of the Turkish and Oman securities markets. Within the framework of the MoU, the parties intend to exchange experience, information, technical support and seconding employees between the two exchanges as well as cooperation on conducting joint researches and seminars.
Source: Istanbul Stock Exchange
Man Group funds fall 4% in third quarter
January 15, 2010--Shares in Man Group, the hedge fund manager, stumbled on Friday after it said that funds under management had fallen 4 per cent in the final three months of 2009.
The decline reflected a $1.2bn quarterly loss on investments made by its AHL arm, which follows computer-driven trading strategies, as well as redemptions by institutional investors.
However, the fund manager also said that it had won, subject to contract, a mandate from a large unnamed pension fund this month – a deal that could potentially swell funds under management by about $1bn.
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Source: FT.com
DB Index Research -- Weekly ETF Reports -- Europe
January 14, 2010--Highlights
ETF Volume
Exchange based Equity ETF turnover remained at about the same level on the previous week. Daily turnover for the previous week was E1.1bn. European fixed income ETF turnover declined by 2.6% to E196.2m.
In exchange based bond ETFs, db x-trackers II EONIA TR Index ETF has the highest daily turnover of E15.38m. Among the Equity ETFs, iShares DAX (DE) has the highest daily turnover of E50.63m.
There were 37 new listings last week. Julius Baer issued twenty four new Commodity ETFs on Swiss Stock Exchange followed by Source which issued nine new ETFs on London Stock Exchange. UBS issued two new ETF on Deutsche Borse and Zuercher Kantonalbank launched two new ETFs on Swiss Stock Exchange. All the new listings were primary listings except those issued by UBS.
European Regional ETFs remained at the top position as leading product area with total turnover of E361m with 32.75% of total ETF turnover followed by Country ETFs with total turnover of E265m accounting for 24.04% of total ETF turnover. The DAX ETFs remain the dominant country products with total average daily volume of E162m across the fourteen listed products and accounting for 12.9% of all equity ETF volume.
DJ Euro STOXX 50 ETFs accounted for 15.6% of turnover trading E172m per day with liquidity split across 17 ETFs and 44 different listings on 9 exchanges.
Market Share
The Deutsche Borse XTF platform has the largest market share with 36.1% of total turnover. The Euronext NextTrack platform has 17.9% market share. The LSE’s combined Italian Exchange and London market share is now 28.3%.
Assets under Management (AUM) Total European Equity related AUM rose by 3.2% to E117.5bn during last week. AUM for DJ Euro STOXX 50 ETFs was E23.4bn accounting for 19.9% of total European AUM. Fixed Income ETF AUM remained at about the same level at E36.3bn.
Overall, the largest ETF by AUM was Lyxor ETF DJ Euro STOXX 50, an Equity based ETF, with AUM of E5.3bn. The largest Fixed Income ETF by AUM was the iShares € Corporate Bond with AUM of E3.3bn.
To request a copy of the report
Source: Aram Flores and Shan Lan -DB Index Research
SIBEX To List Futures Contract On Dow Jones Industrial Average
January 14, 2010--Sibex has signed a sub-licence agreement with CME Group and Dow Jones Indexes to launch a futures contract based on the Dow Jones Industrial Average.
Derivatives marketplace CME Group owns the exclusive licence to trade US dollar denominated futures and futures-options contracts based on the DJIA.
The DJIA futures contract listed on the Sibex market will be denominated in US dollars and Romanian Leu, will have the multiplier of one and quarterly maturities up to 12 months.
The product is dedicated mainly to Romanian investors and will complete the range of financial instruments available on the Romanian capital market.
Source: Hedge Fund Week
ETF Statistics of December 2009-Borsa Italiana
January 14, 2010-ETF Statistics of December 2009 of the Borsa Italiana-ETF Plus Market is now available.
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Source: ETF Plus Market
Alternatives Directive predicted to raise Dutch pension costs by 6%
January 14, 2010--Current European Commission proposals to introduce a directive governing alternative investments managers would increase pension costs by 6%, as it would limit investment options and the spreading of risk, a large sector of the Dutch pensions market has claimed
“The present concept directive will lead to an undue reduction of investment opportunities, higher costs and lower returns,” suggested a letter signed by the pensions associations VB and OPF, as well as 10 of the Netherlands’ largest pension schemes and asset managers.
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Source: IP&E
Germany experiencing serious recession in 2009
January 14, 2010--The German economy shrank in 2009 for the first time in six years. With –5.0%, the decline in the price-adjusted gross domestic product (GDP) was larger than ever since World War II. This is shown by first calculations of the Federal Statistical Office (Destatis). The economic slump occurred mainly in the winter half-year of 2008/2009. Over the year, there were signs that the economic development would slightly stabilise on the new, lower level. In 2008 the GDP had slightly been up by 1.3%, in 2007 by 2.5% and in 2006 even by 3.2%.
What was striking in 2009 is that both exports and capital formation in machinery and equipment slumped heavily. Foreign trade, which in previous years had been a major driving force for growth in the German economy, slowed down economic development in 2009. While exports were down a price-adjusted 14.7%, the decrease was just 8.9% for imports. Hence the balance of exports and imports made a negative contribution to GDP growth, as it had done in 2008. However, with –3.4 percentage points, it was markedly larger in 2009 than in 2008 (–0.3 percentage points). Gross fixed capital formation in machinery and equipment was down altogether by one fifth compared with 2008 (–20.0%). Gross fixed capital formation in construction decreased by just 0.7% on the previous year. The only positive contribution in 2009 was made by final consumption expenditure: Final consumption expenditure of households was up a price-adjusted 0.4%, government final consumption expenditure rose even markedly by 2.7% on the previous year.
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Source: Federal Statistical Office
Deutsche Börse Publishes Annual Statistics for Primary Market
Volume doubles in capital increases / Further internationalization of primary market
January 14, 2010--Deutsche Börse recorded 58 initial listings in 2009 (2008: 189) and 40 company transfers in all listing-segments (2008: 28). Of the initial listings, 79 percent were companies outside Germany. A total of six companies placed shares as part of an initial public offering (IPO), including one each from China, USA and Canada. Year-on-year the volume of capital increases doubled
The Prime Standard, the segment with the highest transparency requirements in the Regulated Market saw three new entrants (2008: 12). The largest IPO of 2009 was that of Chinese company Vtion Wireless Technology, with a placement volume of 48.4 million euros.
The Entry Standard welcomed 14 new entrants (2008: 16) including three IPOs. Two companies, zooplus AG and YOC AG, moved up from the Entry Standard to the Prime Standard. Five companies moved from the Regulated Market to the Entry Standard (2008:1). The segment provides in particular small- and medium-sized enterprises with cost-efficient and flexible access to the stock exchange. Currently, 117 companies are listed in the Entry Standard.
The First Quotation Board in the Open Market recorded 57 new entrants (2008: 176), including two IPOs. There were also eleven private placements in the segment, with a total volume of almost 50 million euros. The company with the largest private placement was Agroton, from the Ukraine, with a volume of 28 million euros. All initial listings in the Open Market are grouped in the First Quotation Board.
A huge rise in the volume of capital increases was recorded in 2009. Although the actual number of capital increases dropped slightly (2009: 127 / 2008: 135), the total volume of 8 billion euros in 2008 doubled to 16.2 billion euros in 2009. Of the 127 capital increases carried out, 103 were in the Regulated Market and 24 in the Entry Standard. At least one capital increase was implemented by 18 companies in the General Standard and 64 in the Prime Standard. The largest capital increase of 2.3 billion Euros was carried out by HeidelbergCement from the construction sector.
Source: Deutsche Börse
Overseas unlikely to follow levy move
January 14, 2010--While responding positively to the proposed US levy on banks, which brings the Obama administration closer to European thinking, the international community is unlikely to follow suit, officials in London predicted on Thursday.
The main international reaction this week to the US move has been surprise. This is because the administration has opposed financial transaction and bonus taxes when other countries have proposed them, to the embarrassment of figures such as Gordon Brown, Britain’s prime minister.
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Source: FT.com
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