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ESMA updates statements on the impact of Brexit on MiFID II/MiFIR and the Benchmarks Regulation
October 1, 2020--The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, has updated two statements on its approach to the application of key provisions of MiFID II/MiFIR and the Benchmark Regulation (BMR).
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Source: ESMA
EDHEC European ETF, Smart Beta and Factor Investing Survey
October 1, 020--Summary :
The latest edition of the EDHEC European ETF, Smart Beta and Factor Investing Survey was conducted as part of the "ETF, Indexing and Smart Beta Investment Strategies" research chair at EDHEC-Risk Institute, in partnership with Amundi.
The data shows an increase in the use of ETFs to invest in SRI/ESG (55% of respondents in 2020, versus 33% in 2019), with a satisfaction rate of 87% (68% in 2019).
Achieving broad market exposure still tops the list of reasons for using ETFs, with 77% of respondents using them frequently for this purpose.
Cost and quality of replication still remain the two main drivers for selecting ETF providers. 50% of respondents would like to see further developments in SRI/ESG-based ETFs and/or low-carbon ETFs, compared to 38% in 2019.
65% of respondents incorporate ESG into their investment decisions to allow for a positive impact on society and 58% of them to reduce long-term risk.
However, the majority (63%) do not want this to be done at the expense of performance.
More respondents (45%) favour a best-in-class (positive screening) approach to SRI/ESG implementation over the thematic approach (30%) and the negative screening approach (25%).
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Source: risk.edhec.edu
Avoiding 'sin stocks' is no longer enough for ESG ETFs
October 1, 2020--Traditional socially responsible exchange traded funds that rely on simply excluding "sin stocks" and other securities linked to sectors such as coal mining or tobacco look set to become a thing of the past, data show.
Instead, investors are leaning towards so-called positive screening approaches that choose best-in-class companies which score high on specific environmental, social and governance performance criteria, according to experts on the rapidly expanding ESG ETF investment industry.
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Source: technocodex.com
Amundi boss targets China's wealth management boom
September 30, 2020--Europe's largest asset manager has received regulatory permission to begin operating a joint venture
Yves Perrier, chief executive of Amundi, has predicted that China will become one of the €1.6tn French asset manager's most important markets
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Source: FT.com
ESMA Publishes Final Report for Guidelines on Internal Control
September 30, 2020--The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, has today published the Final Report for its Guidelines on Internal Control for Credit Rating Agencies.
The purpose of these Guidelines is to communicate what ESMA considers to be the characteristics and components of an effective internal control structure within a CRA. The guidelines are structured according to two main parts, establishing:
ESMA's views on the components and characteristics that should be present in a CRA to demonstrate a strong framework for internal controls; and ...
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Source: ESMA
New Amundi ETF on Xetra: ESG-compliant investments in emerging markets
September 29, 2020--Since Tuesday a new Exchange Traded Fund of Amundi is tradable via Xetra and Börse Frankfurt.
With the Amundi MSCI Emerging ESG Universal Select UCITS ETF DR (C), investors have access to large and medium-sized companies from 23 emerging markets that are considered sustainable.
The weighting of the index constituents is based on ESG criteria. Preference is given to companies with a stable ESG profile and a positive performance to improve this profile.
Companies with significant business activities in nuclear energy, tobacco, coal, alcohol, gambling and weapons as well as genetically modified organisms are excluded from the index.
Name: Amundi MSCI Emerging ESG Universal Select UCITS ETF DR (C)
Asset class: Equitiy ETF
ISIN: LU2109787049
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Source: Deutsche Börse
New iShares ETF on Xetra: Access to 500 largest US companies
September 29, 2020--Since Tuesday a new Exchange Traded Fund of iShares is tradable on Xetra and Börse Frankfurt.
With the iShares S&P 500 Swap UCITS ETF USD (Acc), investors have access to the 500 largest listed US companies. The S&P 500 index represents the most important sectors and is considered an indicator for the development of the entire U.S. stock market.
It is an accumulating, swap-based share class with an annual cost of 0.07 per cent.
Name: iShares S&P 500 Swap UCITS ETF USD (Acc)
Asset class: Equity ETF
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Source: Deutsche Börse
BlackRock performs volte-face with swap-based equity ETF
September 29, 2020--The world's largest asset manager has launched its first synthetic ETF after years spent criticising the structure
BlackRock has performed a volte-face and launched its first swap-based equity exchange traded fund, entering a market it had avoided for nearly a decade following chief executive Larry Fink's vehement criticism of the structure.
"BlackRock has been the flag-bearer for physical ETFs for many, many years. They were very critical of the idea of synthetic ETFs and here they are launching one," said Jose Garcia-Zarate, associate director of ETF strategy at Morningstar, the fund data provider.
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Source: FT.com
ESMA updates regulatory technical standards (RTS) under the Benchmarks Regulation (BMR)
September 29, 2020--The European Securities and Markets Authority, the EU's securities markets regulator, has published its final report containing new sets of draft regulatory technical standards (RTS) under the Benchmarks Regulation (BMR). These contain additional detailed rules to implement the European regulatory framework aimed at ensuring the accuracy and integrity of benchmarks across the European Union.
The draft RTS result from the ESAs Review, Article 5 of Regulation (EU) 2019/2175, that introduced changes to the BMR including a new mandate for ESMA to develop draft RTS.
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Source: ESMA
ESMA updates Q&A on data reporting under EMIR
September 28, 2020--The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, has today updated its Questions and Answers document on practical questions regarding data reporting issues, under the European Markets Infrastructure Regulation (EMIR).
The updated Trade Repository (TR) Q&A 1(c) clarifies that the counterparties should use the underlying to determine the asset class of total return swaps when reporting under EMIR.
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Source: ESMA
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