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Passives paradox: is active the only way to make an impact on ESG?
July 5, 2020--Does the passive push into ESG mean giving up one of the key tenets of responsible investing? We asked specialists in this area how to engage in the era of indices.
The future may well be green for passives. With ETF giant BlackRock nailing its colours to the ESG mast, the sheer volume of assets allocated to ESG via passive strategies is likely to skyrocket in the not-too-distant future.
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Source: citywireselector.com
Euro area bank interest rate statistics: May 2020
July 3, 2020--The composite cost-of-borrowing indicator for new loans to corporations and for new loans to households for house purchase remained broadly unchanged in May 2020, at 1.46% and 1.42%, respectively.
In the same month, the euro area composite interest rate for new deposits with agreed maturity from corporations decreased by 5 basis points to -0.10%, driven by the interest rate effect, whereas the interest rate for overnight deposits from corporations showed no change at 0.00%.
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Source: ECB
ESMA Newsletter-N0.15
July 3, 2020--Welcome to the 15th edition of ESMA's newsletter.
This month, ESMA has published its 2019 Annual Report, released an important video on cost and performance and approved the new Securities and Markets Stakeholder Group (SMSG).
In this edition, we also take a closer look at our full list of ESMA staff webinars and catch up on publications from June.
Finally, the Board of Supervisors will meet next on 7 & 8 July so stay with us for more updates.
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Source: ESMA
Research and analysis: UK official holdings of international reserves: June 2020
July 3, 2020--This release details movements in the international reserves of gold and assets held by the UK government.
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Source: gov.uk
New UBS ETF on Xetra: Sustainable investments in equities from the Pacific region
July 3, 2020--Since Friday, a new exchange traded fund issued by UBS Global Asset Management has been tradable on Xetra and Börse Frankfurt.
With the UBS ETF (LU) MSCI Pacific Socially Responsible UCITS ETF (USD) A-acc, investors can invest in large and medium-sized companies from five industrialised nations in the Pacific region, considering sustainability criteria.
Companies with significant business activities in the fields of nuclear energy, tobacco, steam coal, alcohol, gambling, weapons and genetically modified organisms are excluded from the index. The weighting of a stock is limited to a maximum of five per cent.
Any dividends received are reinvested. The annual costs amount to 0.40 per cent.
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Source: Xetra
Borsa Italiana-Monthly Update June 2020
July 3, 2020--The Borsa Italiana-Monthly Update June 2020.
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Source: borsaitaliana.it
UK Financial Watchdog Grants License to London-Based Crypto Asset Firm
July 2, 2020--London-based crypto asset management firm Prime Factor Capital has obtained a license from the FCA to operate as a full-scope Alternative Investment Fund Manager.
London-based crypto asset management firm Prime Factor Capital has obtained a license from the Financial Conduct Authority (FCA) to operate as a full-scope Alternative Investment Fund Manager (AIFM). The development was announced in a press release on July 1.
Being FCA-authorized gives Prime Factor Capital the right to operate as a full-scope AIFM under the European Union’s AIFM Directive (AIFMD). The Directive is a regulation applied to private equity funds, hedge funds, and real estate funds, which sets standards for marketing in regards to raising private capital, risk monitoring and reporting, among other issues.
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Source: cointelegraph.com
Deutsche Boerse welcomes 21Shares as new issuer
July 2, 2020--New crypto ETN offers easy access to Bitcoin
Since Thursday, the first cryptocurrency product issued by 21Shares has been tradable on Xetra and Börse Frankfurt.
With the 21Shares Bitcoin ETP, investors can participate in the performance of the cryptocurrency Bitcoin.
The Exchange Traded Note (ETN) is physically backed by Bitcoin and has been admitted to the Regulated Market of the Frankfurt Stock Exchange. The ETN is centrally cleared via Eurex Clearing. Central clearing allows investors to benefit from significantly reduced risks in the settlement of transactions.
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Source: Deutsche Börse Group
Qontigo Launches First EU-Compliant Climate Benchmark Indices
July 2, 2020--July 2, 2020--STOXX PAB and STOXX CTB Index families align with EU Regulatory objectives to reduce global warming and decarbonize
Qontigo announced today the launch of two new families of Climate Indices: the STOXX Paris-Aligned Benchmark (PAB) Indices and the STOXX Climate Transition Benchmark (CTB) Indices.
These indices help reduce exposure to climate-related financial risks and include companies that are well-positioned to provide solutions needed to transition to a low-carbon economy.
The new PAB Benchmarks and CTB Benchmarks track the performance of liquid securities from a selection of underlying STOXX Benchmark indices. Both comply with, and exceed, the CTB and PAB requirements as laid out by the European Commission’s Technical Expert Group (TEG) Final Report. The Climate Benchmark Regulation is part of the European Commission’s Action Plan on financing sustainable growth. The indices were constructed in collaboration with ISS ESG and Sustainalytics, two of the leading providers of sustainability data.
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Source: Deutsche Börse Group
FESE-Equity: the key to unlocking a sustainable economic recovery
July 2, 2020--The Covid-19 pandemic has had tremendous effects on our societies. The loss of lives and the health crisis in general has been devastating.
Secondary to this, as societies closed down to limit the spread of the disease, economic activity ground to a halt. As a result, we may be facing the most severe economic crisis since the Great Depression. This crisis also creates an opportunity to revisit and improve economic policy and create a better and greener future for Europe.
RECOMMENDED MEASURES
A revamped CMU which balances between private and public markets is a must.
The proposed fund for EU IPOs should be pan- European and support both IPOs and secondary issuances, while contributing to relaunching IPOs.
To re-equitise the economy, a concrete proposal for the fund through public/private partnerships should be drafted.
The various stimulus packages should include specific bridge financing for viable SMEs/growth companies that were planning IPOs when the Covid crisis hit.
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Source: FESE (Federation of European Securities Exchanges)
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