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EU to Make Fund Managers Back Up Sustainability Claims
March 9, 2021--New sustainable-investment rules apply to all fund managers that raise money in the bloc
The European Union is bringing rules into effect on Wednesday that seek to regulate the fast-growing sustainable-finance industry for the first time.
Managers of funds that invest in line with environmental, social or governance considerations, known as ESG, will have to put forward a tangible, measurable plan for how they will do so. This will apply to all asset managers that raise money in the EU, whether they are based within its borders or not, from March 10.
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Source: wsj.com
Deutsche Borse expands innovative centrally cleared crypto offering on Xetra with Ethereum and Bitcoin Cash
March 9, 2021--New ETNs offer easy access to the performance of cryptocurrencies with physical backing
Central clearing offers reduced risks and settlement efficiencies
From today, Exchange Traded Notes (ETNs) issued by 21Shares and ETC Group on the cryptocurrencies Ethereum and Bitcoin Cash are available to investors on Xetra for the first time. With this move, Deutsche Börse is expanding its range of innovative, centrally cleared crypto ETNs.
The new products are physically backed and listed on the Regulated Market of the Frankfurt Stock Exchange.
"Cryptocurrencies are a rapidly growing market segment. With the expansion to Ethereum and Bitcoin Cash, we are now offering further investment opportunities to trade crypto products efficiently in a regulated on-exchange environment. This means investors no longer have to turn to unregulated crypto venues or set up their own crypto wallets," says Stephan Kraus, Head of Deutsche B&puml;rse's ETF segment.
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Source: Deutsche Börse Group
New Xtrackers ETFs on Xetra: global equities and emerging markets from Asia
March 8, 2021--Since Monday, two new exchange traded funds issued by Xtrackers are tradable on Xetra and Börse Frankfurt.
With the Xtrackers MSCI World Swap UCITS ETF 1D, investors invest in an equity portfolio of 23 industrialised nations worldwide. The MSCI World Index currently comprises 1,583 large and medium-sized companies from various sectors and thus covers around 85 per cent of market capitalisation.
Companies from the USA, Japan and Great Britain are most strongly represented in the index.
The Xtrackers MSCI Emerging Markets Asia Swap UCITS ETF 1D allows investors to invest in emerging market equities. The focus is on large and medium-sized companies from nine Asian countries such as China, Taiwan or South Korea. Currently, 1,114 stocks from different sectors are included.
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Source: Xetra
Solactive provides two new Social and Governance Indices for BBVA's Sustainable 'Quantitative Investment Strategies'
March 8, 2021--Solactive is pleased to strengthen its ties with BBVA once more in the course of the Spanish bank's recent completion of its 'Quantitative Investment Strategies' (QIS). The two new indices rounding out BBVA's sustainable-centered QIS are the Solactive BBVA ixS Global Inclusive Growth Index and the Solactive BBVA ixG Global Governance & Board Diversity Index.
The indices offer investors an opportunity to invest in high-growth global companies that comply with the United Nations Sustainable Development Goals and are leading global companies in corporate governance, respectively.
"The latest release marks the completion of a very meaningful index range that gives investors the full spectrum of ESG investing," comments Timo Pfeiffer, Chief Markets Officer at Solactive. "Solactive accompanied the creation of BBVA's Quantitative Investment Strategies' since its initial stages, and despite a challenging year 2020, we are happy that we've been BBVA's well-trusted partner in this project."
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Source: Solactive AG
Active ETFs top European investors' wish list
March 8, 2021--Cryptocurrency craving is also strong amid surge in bitcoin fund assets
Actively managed and cryptocurrency exchange traded funds are top of the wish list for European financial advisers and institutional investors when it comes to ETF launches.
European regulators are yet to approve any semi or non-transparent active ETFs, which unlike traditional ETFs do not disclose their full portfolio to the market on a daily basis.
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Source: FT.com
Cyber-attack on the European Banking Authority
March 7, 2021--The European Banking Authority (EBA) has been the subject of a cyber-attack against its Microsoft Exchange Servers, which is affecting many organisations worldwide. The Agency has swiftly launched a full investigation, in close cooperation with its ICT provider, a team of forensic experts and other relevant entities.
As the vulnerability is related to the EBA's email servers, access to personal data through emails held on that servers may have been obtained by the attacker. The EBA is working to identify what, if any, data was accessed. Where appropriate, the EBA will provide information on measures that data subjects might take to mitigate possible adverse effects.
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Source: eba.europa.eu
New Invesco ETF on Xetra: with clean energies for lower CO2 emissions
March 5, 2021--A new exchange traded fund issued by Invesco has been tradable on Xetra and Börse Frankfurt since Friday.
With the Invesco Global Clean Energy UCITS ETF-Acc, investors can participate in the performance of companies from 26 countries around the world that are active in the clean energy sector.
The focus is on companies that use innovative technologies and services to reduce CO2 emissions. This includes business areas such as the production of wind, water, solar or geothermal energy, energy storage as well as the feed-in and transmission in the power grid. The index also includes manufacturers of components that are used to generate renewable energies. These include, for example, turbines that are installed in wind turbines. IT companies can also be included in the index that, for example, provide the software for the operation of power grids or systems.
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Source: Deutsche Börse
The EU's fiscal stance, its recovery fund, and how they relate to the fiscal rules
March 4, 2021--Joint EU borrowing to boost the recovery, if not treated as national deficit and debt, will substantially ease rules-based fiscal adjustment needs in southern and eastern Europe, but not in western and northern Europe.
By now, the broad outlines of the European Union's post-coronavirus recovery fund, Next Generation EU, are well known.
Under NGEU, the European Commission will borrow up to €806 billion (current prices) and distribute it over six years to all EU countries. Most (€420 billion) will be distributed as grants while up to €386 billion could be distributed as credit. In addition, €90 billion (at current prices) in loans has already been granted to 18 EU countries from the temporary scheme, Support to mitigate Unemployment Risks in an Emergency (SURE), to help with the financing of short-time work schemes and similar measures.
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Source: bruegel.org
Invesco launches comprehensive China 'All Shares' ETF
March 3, 2021--Invesco has rolled out a new ETF in Europe providing exposure to the whole gamut of China share classes.
The Invesco MSCI China All Shares Stock Connect UCITS ETF has listed on LSE in US dollars (MCHN LN) and pound sterling (MCHS LN) and comes with an expense ratio of 0.35%.
The fund invests across all Chinese share classes-A-shares, B-shares, H-shares, Red-chips, P-chips, and foreign listings such as S-chips and N-shares-delivering a more complete representation of China's economy.
The fund is referenced to the MSCI China All Shares Stock Connect Select Index, which it tracks using direct physical replication.
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Source: etfstrategy.com
Carbon price floors: an addition to the European Green Deal arsenal
March 3, 2021--As the European Union sets out a more ambitious climate policy, carbon price floors provide an opportunity to place greater emphasis on altering expectations, so that market agents anticipate today higher future pay-offs from low-carbon investment.
This year will be decisive for Europe's climate policy, with a wide range of new legislation promised to align current EU climate and energy policies with a new emissions reduction target of 55% by 2030.
The reform of the backbone of the EU climate policy architecture, carbon pricing, will be of fundamental importance. This will entail reform of the emissions trading system (ETS) and the Energy Taxation Directive (ETD).
One tool currently missing from the European Green Deal arsenal is a carbon price floor, which can set a minimum carbon pricing in both ETS and non-ETS sectors. After years of discussions, the time for its introduction might now have come.
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Source: bruegel.org
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