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Hedge fund launches seize up in tough markets
July 6, 2020-- Just 84 funds got going in the first quarter, while 304 were liquidated. The coronavirus crisis has made life even tougher for start-up hedge funds around the world.
While some of the biggest names in the industry..
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Source: FT.com
Russian Economy Faces Deep Recession Amid Global Pandemic and Oil Crisis, Says New World Bank Report
July 6, 2020--Fueled by a COVID-19 triggered deep global recession, Russia's 2020 GDP growth is projected to contract by 6 percent, an eleven-year low, with a moderate recovery in 2021-2022, according to the World Bank's latest Russia Economic Report (#43 in the series). The decline of Russian economic growth is further exacerbated by plummeting crude oil prices that dropped 53 percent between January and May 2020.
In 2020, overall household consumption is expected to shrink by 4.9 percent, and gross fixed capital investment by 8 percent. Through April and May 2020, negative growth was reflected in most sectors, with manufacturing contracting 8.6 percent in this period; mineral-resource extraction decreasing by 8.4 percent, resulting in rapid shrinking of industrial production; and the transport sector experiencing a 7.7 percent contraction, driven by falling trade volumes since the beginning of the year.
view the Full Report: Russia-Recession and Growth under the Shadow of a Pandemic
Source: Worldbank.org
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
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