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Water looms large for European thematic ETF providers
January 21, 2021--Survey shows more than 90% of issuers thought demand from clients was set to grow
The dazzling performance of the Invesco Solar ETF (TAN), which delivered a 231 per cent return in 2020, has had exchange traded funds providers casting around for the next big thing.
Cerulli, which undertakes research and strategic consulting for clients such as private banks and wealth managers, believes the climate theme will continue, but instead of solar energy, investors' attention will switch to water.
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Source: FT.com
Forecasts for the UK economy: January 2021
January 20, 20, 2021--A comparison of independent forecasts for the UK economy in January 2021.
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Source: gov.uk
New L&G ETFs on Xetra: Corporate Bonds with sustainability filter from industrial nations and emerging markets
January 20, 2021--Since Thursday, two new exchange traded funds issued by Legal & General Investment Management are tradable on Xetra and Börse Frankfurt.
The L&G ESG USD Corporate Bond UCITS ETF enables investors to invest in US dollar-denominated corporate bonds from industrial nations worldwide.
In addition to an investment grade rating, fixed and floating coupon bonds are included. For inclusion in the J.P. Morgan Global Credit Index (GCI) ESG Investment Grade USD Custom Maturity Index, bonds must have a minimum outstanding volume of 500 million US dollars and a minimum remaining maturity of six months.
With the L&G ESG Emerging Markets Corporate Bond (USD) UCITS ETF, investors focus on the performance of US dollar-denominated corporate bonds from emerging markets with both fixed and floating interest rates. Only bonds with a minimum outstanding volume of 500 million US dollars and a minimum residual term of six months are considered. However, the J.P. Morgan ESG CEMBI Broad Diversified Custom Maturity Index limits the remaining maturity to a maximum of five years for inclusion in the index.
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Source: Deutsche Börse
IMF Country Focus-Germany's Post-COVID-19 Recovery in Five Charts
January 19, 2021--Looking beyond the near term, emphasis should be on 'building better for the future' by supporting the transformation toward a smarter, greener economy.
Germany has to date been relatively successful at managing the pandemic, but the economic shock has still been profound.
The country's early and vigorous public health response has led to some of the lowest mortality rates in Europe. However, the containment measures caused a substantial drop in business activity, especially in contact-intensive sectors. Economic activity started recovering following the re-opening in late April, but a new wave of infections in the fall has triggered another round of lockdowns. Overall, the economy likely contracted by over 5 percent in 2020. Economic growth is expected to pick up in 2021 as vaccines become widely distributed, but output is not projected to return to its precrisis level before 2022.
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Source: IMF
Cushon unveils net-zero pension plan
January 18, 2021--Cushon, the fintech workplace savings disrupter, today announces that it has launched the world's first net zero pension.
Cushon's pension is the first of its kind in that it is Net Zero now-not later-unlike competitors in the market who have long-reaching targets to achieve the same by 2030 or even 2050. The fund will have a management fee of just 0.15%, while offering highly competitive returns without sacrificing performance.
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Source: finextra.com
Norilsk Nickel becomes first miner to launch metals ETPs
January 18, 2021--One of many mining trade's most severe polluters is shifting into asset administration, launching a spread of change traded merchandise that may monitor the value of gold, silver, platinum and palladium.
The transfer by Norilsk Nickel marks the primary time {that a} mining firm has launched tracker merchandise, thrusting the world's greatest producer of palladium and nickel into the cut-throat price war raging amongst asset managers together with BlackRock, Invesco and UBS.
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Source: ft.com
Oceans hottest ever as burgers go carbon neutral
January 18, 2021--The world's oceans hit their hottest level on record, supercharging the extreme weather effects caused by climate change, as food chain LEON offers 'carbon-neutral' burgers and fries. Meanwhile, assets held in 'sustainable' Exchange Traded Funds jump threefold (but most funds fall short on United Nations goals).
70 per cent of UK finance professionals are not confident in their firms' commitment to ethical finance, and the UK's water industry joins the United Nations 'Race to Zero' campaign.
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Source: good-with-money.com
UK economy shrank 2.6% in November
January 16, 2021--The Office for National Statistics said it meant gross domestic product was 8.5% below its pre-pandemic peak.
November's decline came after six consecutive months of growth.
Pubs and hairdressers were badly hit as the service sector suffered, the ONS said, but some manufacturing and construction activity improved.
The hit to the service sector - which accounts for about three-quarters of the UK economy-meant it contracted by 3.4% in November, and is now 9.9% below the level of February 2020.
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Source: bbc.com
ECB-Meeting of 9-10 December 2020
Account of the monetary policy meeting of the Governing Council of the European Central Bank held in Frankfurt am Main on Wednesday and Thursday, 9-10 December 2020
January 14, 2021--Account of the monetary policy meeting of the Governing Council of the European Central Bank held in Frankfurt am Main on Wednesday and Thursday, 9-10 December 2020
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 28-29 October 2020.
Developments in global financial markets had been driven by a strong improvement in risk sentiment. The main catalyst had been the news on the effectiveness and imminent roll-out of multiple coronavirus (COVID-19) vaccines. Two additional factors had reinforced and amplified the improvement in risk sentiment. First, there were growing signs of a forthcoming bipartisan fiscal stimulus programme in the United States in the wake of the formal commencement of the presidential transition process. Second, the communication by the ECB's Governing Council that it would recalibrate its instruments at its December meeting had strengthened confidence in the ECB's commitment to monetary policy remaining a reliable source of support. This commitment had supported a broad-based easing of financial conditions.
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Source: ECB
A green industrial policy for Europe
January 13, 2021--A 'green industrial policy' able to promote economic growth, job creation and environmental goals altogether will be fundamental to Europe's climate change ambitions.
The European Green Deal aims to make Europe the first climate-neutral continent by 2050. This is not going to be an easy journey. To be successful, the European Green Deal will have to foster major shifts in the European industrial structure, including transitions from fossil fuels to renewable energy and from combustion engine cars to electric cars. Shifting economies from brown to green would be a historic socio-economic transformation. Not by coincidence, this challenge is often referred to as an industrial revolution against a deadline. In this context of broad, paradigmatic, change for European industry, a 'green industrial policy' able to promote economic growth, job creation and environmental goals altogether will be fundamental to Europe's climate change ambitions.
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Source: SEC.gov
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