ETFGI reports assets invested in the European ETF and ETP industry reached a record US$882.20 billion at the end of April 2019
May 29, 2019--ETFGI, a leading independent research and consultancy firm covering trends in the global ETF/ETP ecosystem, reported today that ETFs and ETPs listed in Europe gathered net inflows of US$3.95 billion in April, bringing year-to-date net inflows to US$35.54 billion.
Assets invested in the European ETF/ETP industry finished the month up 2.60%, from US$859.51 billion at the end of March to US$882.20 billion, according to ETFGI's April 2019 European ETF and ETP industry landscape insights report, an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)
Highlights
Assets invested in the European ETF/ETP industry reach $882.20 Bn in April 2019, the highest on record.
55th consecutive month of net inflows into ETFs/ETPs listed in Europe.
April 11th marked the 19th Anniversary of the listing of the first ETFs in Europe.
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Source: ETFGI
FESE Blueprint:'Capital Markets Union By 2024-A Vision For Europe'
May 29, 2019--Today, FESE launched its FESE Blueprint: 'Capital Markets Union by 2024- A vision for Europe' which sets out 20 Principles and Policy Recommendations on how to take the Capital Markets Union (CMU) forward.
In the context of the global challenges that the European Union (EU) is facing, it is crucial that we take a step back and reflect on how we can foster a deeper and more integrated European financial system while continuing to be open to global capital markets. Policy makers must re-double their efforts and take bold decisive steps with tangible objectives that will ensure the EU is attractive to global capital and companies, whilst maintaining transparency, integrity and investor protection.
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Source: FESE
Algebris launches new fund targeting jumps in volatility
May 28, 2019--Algebris Investments, a $12bn-in-assets hedge fund based in London, has launched a new vehicle designed to profit from a growing tide of computer-driven traders targeting volatility, which some analysts argue has made markets more turbulent.
The hedge fund group led by Davide Serra, a former professional volleyball player and Morgan Stanley banker, said the new fund would be managed by its new "head of quant strategies", Gianluca Lobefalo, another Morgan Stanley veteran who joined Algebris last autumn.
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Source: FT.com
ESMA updates its Questions and Answers on the Securitisation Regulation
May 27, 2019--The European Securities and Markets Authority (ESMA) has today updated its Questions and Answers (Q&As) on the Securitisation Regulation (Regulation 2017/2402).
This document provides clarification on different aspects of the templates contained in ESMA's draft technical standards on disclosure requirements.
In particular, the document clarifies how several specific fields in the templates should be completed. In addition, a new section has been added to the document with questions and answers relating ESMA's draft technical standards on notifications to ESMA of securitisations which meet the Simple Transparent and Standardised ('STS') criteria.
view the ESMA Questions and Answers On the Securitisation Regulation
Source: ESMA
Nasdaq Withdraws Offer to Acquire Shares of Oslo Bors VPS
May 27, 2019--Nasdaq AB, an indirect subsidiary of Nasdaq, Inc. (Nasdaq: NDAQ), has decided to withdraw its offer (the "Offer") to acquire all of the issued shares of Oslo BØrs VPS Holding ASA made pursuant to the offer document published on 4 February 2019 (as amended).
This decision has been made because under the current circumstances the minimum acceptance condition for completion of the Offer is incapable of being satisfied. Shareholders who previously accepted the Offer are being released from their obligations under the Offer.
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Source: Nasdaq
Monday Morning Memo: European Investors shy away from mutual funds in April
May 27, 2019--The negative fund flows trend in Europe continued in April as the securities markets showed a volatile, but positive, trend. As a consequence, April was the twelfth month in a row long-term mutual funds posted net outflows after 16 consecutive months of net inflows.
Taking the current interest rate environment into account, it was surprising that bond funds (+€7.6 bn) were once again the best-selling asset type in the segment of long-term mutual funds, followed by real estate funds (+€0.2 bn) and commodity funds (+€0.1 bn). All other asset types faced outflows: equity funds (-€21.0 bn), alternative UCITS funds (-€8.7 bn), mixed-asset funds (-€3.2 bn), and “other” funds (-€0.6 bn).
These fund flows added up to overall net outflows of €25.7 bn from long-term investment funds for April. ETFs contributed inflows of €3.7 bn to these flows.
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Source: Detlef Glow, Refinitiv
Theresa May quits: UK set for new PM by end of July
May 24, 2019--Theresa May has said she will quit as Conservative leader on 7 June, paving the way for a contest to decide a new prime minister.
In an emotional statement, she said she had done her best to deliver Brexit and it was a matter of "deep regret" that she had been unable to do so.
Mrs May said she would continue to serve as PM while a Conservative leadership contest took place. The party said it hoped a new leader could be in place by the end of July.
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Source: BBC
Russia: Staff Concluding Statement of the 2019 Article IV Mission
May 24, 2019--Russia's growth prospects will depend on the strength of domestic policies and reforms. GDP growth in the past three years averaged 1.4 percent and is projected at a similar rate in 2019.
External support is expected to be limited, as sanctions, global political and trade uncertainty and lower oil prices have replaced the favorable external conditions that contributed to rapid growth in the 2000s boom. Thus Russia now needs to focus on domestic reforms to improve growth potential. A key building block is the credible macroeconomic framework the authorities have established since 2014, in difficult circumstances, in the form of inflation targeting, exchange rate flexibility and the fiscal rule.
view the Russia: Staff Concluding Statement of the 2019 Article IV Mission
Source: IMF
Mifid rules highlight the costs of investing
May 23, 2019--Wealth managers are now required produce fee statements for customers as part of Mifid II rules that came into effect in January 2018.
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Source: FT.com
ECB-Account of the monetary policy meeting
of the Governing Council of the European Central Bank, held in Frankfurt am Main on Wednesday and Thursday, 9-10 April 2019
May 23, 2019--1. Review of financial, economic and monetary developments and policy options
Financial market developments
The Vice-President, standing in for Mr Cœuré, reviewed the latest financial market developments.
Since the Governing Council's previous monetary policy meeting on 6-7 March 2019, global risk sentiment had improved across various market segments.Equity market indices had continued to rise, recording one of the strongest first quarter performances since the global financial crisis, while government bond prices had also increased. At the same time, foreign exchange rates had mostly remained broadly stable.
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Source: ECB
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