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ETF Money Monitor-March 2020
April 9, 2020--Key takeaways:
Fixed Income funds suffered their largest outflows on record in March 2020 (€-128.7bn). Equities recorded their second-largest-ever outflow amid the Covid-19 crisis (€-53bn).
ETF flows: ETFs had large outflows (€-25.6bn) over the month, with Fixed Income and Equity ETFs losing €-13.3bn and €-13.0bn respectively. Money Market was the only asset class were ETFs recorded positive flows (€1.3bn).
ESG ETFsremained a bright spot in March despite the challenging market context, gathering €1.0bn.
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Source: Lyxor
German Foreign Minister Maas warns of hard Brexit as talks stall
May 9, 2020--Heiko Maas voiced his concern amid floundering trade talks between the EU and UK. The two sides have also not agreed on whether to extend the negotiation period, if an agreement is not made by the end of the year.
A hard Brexit is becoming increasingly likely, as negotiations between Britain and the European Union have stalled, German Foreign Minister Heiko Maas told the Augsburger Allgemeine newspaper.
Talks on the future trade relationship and 2021 trade terms between the two blocs have hardly made any progress since the negotiations resumed last month, according to officials.
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Source: dw.com
Two months before the cliff-millions of Europeans cannot afford food and lodging after two months without income
May 7, 2020--Nearly 100 million people in 21 EU countries do not have enough savings in their bank accounts to meet two months of basic expenses: food, utilities, rent or mortgage.
Those born outside the EU are especially at risk. Government support is thus fundamental to help individuals withstand the COVID-19 crisis.
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Source: bruegel.org
Bank of England warns UK faces deepest recession for centuries
May 7, 2020--The UK is facing the deepest recession not just in living memory but for centuries, the Bank of England has warned-predicting that the economy could shrink by 14 per cent over the course of this year.
The impact of coronavirus and the global shutdowns will see investment and household spending plummeting while unemployment soars.
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Source: channel4.com
HANetf Announces TER Reduction on 3 ETFs
May 7, 2020--As of 1st May, 2020 HANetf has reduced fees on the following ETFs from 75bps to 59bps:
HAN-GINS Cloud Computing UCITS ETF (SKYY)-exposure to the world's 50 largest cloud computing companies, many of which are enabling the world to remain productive and entertained as the world finds itself in lockdown.
HAN-GINS Innovative Technologies UCITS ETF (ITEK)-exposure to eight innovative technology megathemes from cyber security to future cars.
HAN-GINS Indxx Healthcare Innovation UCITS ETF (WELL)-exposure to companies at the confluence of healthcare and technology, many of which are at the forefront of developing solutions to defeat coronavirus.
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Source: HANetf
Blown-up Trades at Heart of French Banks Erase $1.5 Billion
May 7, 2020--Stock-trading revenue wiped out for BNP, SocGen, Natixis
Banks struggled with hedging costs and canceled dividends
A key money maker for French investment banks has blown up just as they prepare to deal with the fallout from the coronavirus crisis.
BNP Paribas SA, Societe Generale SA and Natixis SA all saw revenue from equities trading wiped out in the first quarter by heavy losses on complex derivatives, an area of traditional strength. Most of their rivals navigated the market panic more successfully in the wake of the outbreak, posting double-digits gains from the same business.
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Source: blommberg.com
Banking regulation in the Euro Area: Germany is different
May 7, 2020--Despite progress in recent years towards a single banking policy framework in the euro area-a banking union-much of the German banking system has remained partly sheltered from uniform rules and disciplines that now apply to nearly all the area's other banks.
The resulting differences in regulatory regimes could generate vulnerabilities in the still-incomplete banking union, which is being tested in the context of the COVID-19 pandemic.
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Source: bruegel.org
Qontigo Expands Factor-Based Index Suite To Include Sustainable Indices
May 6, 2020-- Qontigo, an investment intelligence leader and provider of best-of-breed analytics and world-class indices, has announced the expansion of the STOXX Factor Index suite to include a family of ESG-screened indices.
The STOXX ESG-X Factor Indices provide sustainability-driven investors with ESG-screened indices that can target similar levels of factor exposures as the STOXX Factor Indices, while controlling for unintended exposures. These factor exposures are derived from the institutionally tested analytics of Axioma Factor Risk Models.
With the addition of the STOXX ESG-X Factor Indices, the STOXX index portfolio now includes ESG-screened versions of more than 50 benchmarks that meet the responsible-investing criteria of leading asset owners. The suite offers ESG-X versions of global, regional and emerging markets benchmarks, including ESG-X versions of the EURO STOXX 50(R) and the STOXX(R) Europe 600.
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Source: Qontigo
European Commission-Spring 2020 Economic Forecast: A deep and uneven recession, an uncertain recovery
May 6, 2020--The coronavirus pandemic represents a major shock for the global and EU economies, with very severe socio-economic consequences. Despite the swift and comprehensive policy response at both EU and national level, the EU economy will experience a recession of historic proportions this year.
The Spring 2020 Economic Forecast projects that the euro area economy will contract by a record 7¾% in 2020 and grow by 6¼% in 2021. The EU economy is forecast to contract by 7½% in 2020 and grow by around 6% in 2021. Growth projections for the EU and euro area have been revised down by around nine percentage points compared to the Autumn 2019 Economic Forecast.
view the European Economic Forecast. Spring 2020
Source: European Commission
ESMA reminds firms of conduct of business obligations under MiFID II
May 6, 2020--The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, is issuing a Public Statement on the risks for retail investors when trading under the highly uncertain market circumstances due to the COVID-19 pandemic.
ESMA also reminds investment firms of the key conduct of business obligations under MiFID when providing services to retail investors.
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Source: ESMA
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