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Monetary developments in the euro area: January 2021
February 25, 2021--Annual growth rate of broad monetary aggregate M3 stood at 12.5% in January 2021, after 12.4% in December 2020 (revised from 12.3%)
Annual growth rate of narrower monetary aggregate M1, comprising currency in circulation and overnight deposits, increased to 16.4% in January from 15.6% in December.
Annual growth rate of adjusted loans to households stood at 3.0% in January, compared with 3.1% in December
Annual growth rate of adjusted loans to non-financial corporations stood at 7.0% in January, compared with 7.1% in December
Components of the broad monetary aggregate M3
The annual growth rate of the broad monetary aggregate M3 stood at 12.5% in January 2021, after 12.4% in December 2020, averaging 12.0% in the three months up to January.
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Source: ECB
HANetf recruits top industry executive Manooj Mistry
February 24, 2021--Former head of ETFs at DWS will lead product development as chief operating officer
One of the most prominent executives in the European exchange traded fund industry has joined HANetf just as the London-based investment boutique has passed the $2bn milestone for assets under management.
Manooj Mistry, a former head of ETFs and index investing at DWS, the asset management business owned by Deutsche Bank, has taken the job of chief operating officer at HANetf where he will lead product development and oversee regulatory affairs.
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Source: FT.com
New BNP Paribas Easy ETFs on Xetra: sustainable eurozone and emerging markets bonds
February 23, 2021--Three new exchange traded funds issued by BNP Paribas Easy have been tradable on Xetra and Börse Frankfurt since Tuesday.
The BNP Paribas Easy JPM ESG EMU Government Bond IG 3-5Y UCITS ETF- Acc gives investors access to fixed-income and euro-denominated eurozone government bonds with investment grade ratings. Debt instruments with a residual maturity of three to five years are considered.
The BNP Paribas Easy JPM ESG EMBI Global Diversified Composite UCITS ETF-Act gives investors access to floating-rate and fixed-rate emerging market government and quasi-sovereign bonds denominated in US dollars with a minimum residual maturity of two and a half years. In the BNP Paribas Easy JPM ESG EMBI Global Diversified Composite UCITS ETF-Acc h EUR share class, currency risks against the euro are also minimised.
All three ETFs use a sustainability filter based on data from the providers Sustainalytics and RepRisk as well as the Climate Bonds Initiative. Bonds with a high or low sustainability rating are overweighted or underweighted.
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Source: Deutsche Börse
New Amundi ETF on Xetra: global equities in line with the Paris climate agreement
February 23, 2021--A new exchange-traded fund issued by Amundi has been tradable on Xetra and Börse Frankfurt since Tuesday.
The Amundi MSCI World Climate Paris Aligned PAB UCITS ETF DR-USD (C) tracks the performance of large and medium-sized companies from 23 industrialised nations.
The companies are selected in accordance with the objectives of the Paris Climate Agreement. Companies that contribute to preventing climate change are overweighted in the index. On the other hand, companies that are exposed to risks in connection with the climate change are underweighted.
The goal is to reduce greenhouse gas emissions by 50 percent compared to the MSCI World and to decarbonise by seven per cent annually.
Companies with business activities in tobacco, thermal coal, oil and gas as well as weapons are excluded. Any dividend income is reinvested.
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Source: Deutsche Börse
Surge in ESG queries spurs ETF hiring spree at DWS
February 19, 2021--Clients need more detailed discussions to explain index differences, executive says
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Source: FT.com
Euro area investment fund statistics: fourth quarter of 2020
February 19, 2021--In fourth quarter of 2020, outstanding amount of shares/units issued by investment funds other than money market funds rose to €13,719 billion, up €855 billion on previous quarter
Net issues in quarter amounted to €222 billion, with €1,283 billion in gross issues and €1,061 billion in gross redemptions.
Outstanding amount of shares/units issued by money market funds rose to €1,416 billion, up €25 billion on previous quarter
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Source: ECB
Euro area monthly balance of payments: December 2020
February 19, 2021--Current account recorded €37 billion surplus in December 2020, up from €25 billion in previous month
Current account surplus amounted to €248 billion (2.2% of euro area GDP) in 2020, down from €281 billion (2.3%) in 2019
In financial account, euro area residents’ net acquisitions of foreign portfolio investment securities totalled €644 billion in 2020 and non-residents' net acquisitions of euro area portfolio investment securities totalled €164 billion
The current account of the euro area recorded a surplus of €37 billion in December 2020, increasing by €12 billion from the previous month
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Source: ECB
New First Trust ETF on Xetra: renewable energies
February 19, 2021--First Trust provides exposure to companies operating in the renewable energy sector.
A new exchange-traded fund issued by First Trust has been tradable on Xetra and Börse Frankfurt since Friday.
With the First Trust Nasdaq Clean Edge Green Energy UCITS ETF-Acc, investors invest in companies that are related to the development, production, distribution or installation of renewable energies and thus provide technologies for a low-carbon economy.
To be included in the index, companies must generate at least 50 per cent of their turnover from renewable energies.
Companies are considered that, for example, manufacture membranes and filters for the reduction of pollutants, design intelligent energy management and storage systems for batteries and hydrogen drives, or produce solar, hydro or wind energy
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Source: boerse-frankfurt.de
New WisdomTree ETF on Xetra: EU Covid-19 bonds
February 18, 2021--A new exchange-traded fund issued by WisdomTree has been tradable on Xetra and Börse Frankfurt since Thursday.
The WisdomTree European Union Bond UCITS ETF-EURAcc enables investors for the first time to participate in euro-denominated, investment-grade fixed-income bonds of the European Union issued to combat the consequences of the Covid-19 pandemic.
In this way, investors get access to bonds of the development programme "Next Generation EU" and "SURE" aid programme. Under the "SURE" short-time work programme, the EU has issued social bonds to help member states to safeguard jobs. A good third of the "Next Generation EU" programme is earmarked for sustainable climate projects. Only debt instruments with a remaining term of at least one year and a minimum outstanding volume of one billion euros are included.
Bonds of the European Financial Stabilisation Mechanism (EFSM), the European Stability Mechanism (ESM) and the European Investment Bank (EIB) are not included.
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Source: Deutsche Börse
Account of the monetary policy meeting of the Governing Council of the European Central Bank held in Frankfurt am Main on Wednesday and Thursday, 20-21 January 2021
February 18, 2021--1. Review of financial, economic and monetary developments and policy options
Financial market developments
Ms Schnabel reviewed the financial market developments since the Governing Council's previous monetary policy meeting on 9-10 December 2020.
New global coronavirus (COVID-19) infections had reached a record high in the previous week and the risk of more protracted containment measures was rising amid the emergence of more infectious mutations of the virus and a pace of vaccination that was proceeding more slowly than expected. Sentiment in financial markets, however, had improved noticeably at the start of the year, mainly reflecting expectations of additional fiscal stimulus in the United States, sparking reflation trades.
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Source: ECB
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