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ESMA promotes consistent application of prospectus disclosure requirements
July 15, 2020--The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, has published today its final Guidelines on disclosure requirements under the Prospectus Regulation.
The Guidelines provide guidance to financial market participants regarding the disclosure of financial and non-financial information in the prospectus.
The aim of the Guidelines is to ensure that market participants have a uniform understanding of the relevant disclosure required in the various annexes included in the Commission Delegated Regulation (EU) 2019/980. The Guidelines will help those responsible for the prospectus to assess which disclosure is required and to promote consistency across the EU in how the annexes to the Delegated Regulation are applied.
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Source: ESMA
New Invesco ETC on Xetra: Access to gold price with currency hedging
July 15, 2020--Since Wednesday a new exchange traded commodity issued by Invesco is tradable on Xetra and Börse Frankfurt.
With the Invesco Physical Gold EUR Hedged ETC investors can participate in the performance of the gold price.
It is an exchange-traded bond secured by physically deposited gold. Investors are hedged against currency risks against the euro.
Name: Invesco Physical Gold EUR Hedged ETC
Asset class: ETC
ISIN: XS2183935274
Ongoing charges: 0.44 per cent
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Source: Deutsche Börse
New Deka ETFs on Xetra: Sustainable, climate-friendly investments
July 14, 2020--Since Tuesday, five new exchange traded funds from Deka Investment have been tradable via Xetra and Börse Frankfurt.
With the five Deka MSCI Climate Change ESG UCITS ETFs, investors can invest in large and medium-sized companies from Germany, the eurozone, Europe, USA and global industrial nations, considering sustainability criteria.
The individual index components are evaluated based on environmental, social or corporate governance (ESG) criteria. In addition to the exclusion of companies that do not meet certain ESG criteria, companies that violate the principles of the UN Global Compact are excluded. Furthermore, companies with lower CO2 emissions are given a higher weighting in the index. The aim is to select companies with a positive effect on the climate.
Any dividends are paid out to investors. The annual costs are between 0.20 and 0.25 percent.
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Source: Deutsche Börse
ESMA issues second report on sanctions under MiFID II
July 13, 2020--The European Securities and Markets Authority (ESMA), the EU's securities markets' regulator, has published today its second report on sanctions and measures imposed under the Markets in Financial Instruments Directive (MiFID II) by National Competent Authorities (NCAs).
Overall, in 15 (out of 30) EEA Member States, NCAs imposed a total of 371 sanctions and measures in 2019 of an aggregated value of about €1.8 million.
The Report provides an overview of the applicable legal framework and the sanctions and measures imposed by NCAs under the MiFID II framework during the year 2019.
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Source: ESMA
UPDATE 1-European Union carbon permit price hits 14-year high
July 13, 20202--The European Union's benchmark carbon permit price hit a 14-year high at just over 30 euros per tonne early on Monday.
The price for permits for delivery in Dec. 2020 traded under the EU's Emissions Trading System (EU ETS) was 30.13 euros a tonne at 0819 GMT, the highest since 2006.
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Source: reuters.com
Invesco launches physical gold ETC
July 13, 2020--US investment firm is looking to capitalise on the surge in demand for gold as a safe haven with the launch of a sterling-hedged physical gold ETC.
Invesco said its new product was "designed to provide the performance of the gold price, less the annual fee and hedging costs".
The firm said currency risk would be minimised through a daily hedging mechanism, while the hedging fee and daily mark-to-market of the hedge would be settled through physical gold rather than cash, "so that the ETC remains fully invested in gold for the benefit of investors".
"Many investors this year have told us they want exposure to the gold price but not the currency risk attached to a US dollar asset," said Chris Mellor, head of ETF equity and commodity product management at Invesco.
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Source: mining-journal.com
BNP Paribas Asset Management survey shows Covid-19 prompts rise in social considerations within investment decision-making
July 13, 2020--BNP Paribas Asset Management ('BNPP AM') reveals key findings of its study on the importance of ESG criteria for investors in the Covid-19 environment:
ESG has become an even greater focus for 23% of respondents: 81% of respondents already employ ESG in all or part of their portfolios and a further 16% plan to do so
Clear emergence of the importance of social considerations highlighted by an increase of 20 percentage points since the onset of Covid-19
79% of respondents cite social considerations as having a positive impact on long-term investment performance and risk management However, there are significant barriers to investing with consideration to social factors: 42% of respondents highlight lack of established standard metrics
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Source: BNP Paribas Asset Management i
UK government bond yields hit record lows as investor nerves linger
July 10, 2020--Investors seek safety in government bonds as short-dated gilt yields hit new lows
Yieldson short-dated UK government debt yesterday hit record lows after bond markets wobbled on worries over accelerating Covid-19 case.
Investors sought safety in government bonds worldwide, as investors fret over the rise in coronavirus cases in the US, pushing short-dated gilt yields deeper into negative territory. The two-year and five-year gilt yields hit all-time lows of minus 0.113pc and minus 0.08pc, respectively.
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Source: telegraph.co.uk
ECB-Euro area securities issues statistics: May 2020
July 10, 2020--The annual growth rate of the outstanding amount of debt securities issued by euro area residents increased from 4.4% in April 2020 to 5.8% in May.
For the outstanding amount of listed shares issued by euro area residents, the annual rate of change was 0.0% in May 2020, the same as in April.
Debt securities
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Source: ECB
New Van Eck ETF on Xetra: Investment in companies with attractive fair value and competitive advantages
July 9, 2020--Since Thursday, a new exchange traded fund from VanEck Vectors has been tradable on Xetra and Börse Frankfurt.
With VanEck Vectors Morningstar Global Wide Moat UCITS ETF investors can invest in a selection of companies worldwide.
From the universe of the Morningstar Global Markets Index, a maximum of 100 companies are filtered out, which, according to the index provider, have an attractive ratio of fair value to current price and have sustainable competitive advantages. Competitive advantages in this context can be intangible assets, cost advantages, switching costs, network effects or efficient scaling.
Any dividends accruing are reinvested. The annual costs amount to 0.52 percent.
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Source: Deutsche Börse
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