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World Gold Council Market Update: European gold-backed ETPs reach record highs
April 17, 2019--Since the start of 2016, assets in European gold-backed exchange traded products (ETPs) have grown rapidly, hitting a record high of 1,121.4t (US$48bn) in Q1 2019. Now accounting for 45% of the global gold-backed ETP market, they have transformed gold investment in Europe.
So, what has caused this surge in demand for gold-backed ETPs in Europe? We summarise the three broad factors which explain this surge in demand for gold-backed ETPs in Europe:
Loose monetary policy and negative yields. The warning lights have been flashing for some time: the global and European economy is slowing.
Geopolitical uncertainty. Political uncertainty across the continent is also front and centre of investors' minds.
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Source: World Gold Council
Forecasts for the UK economy: April 2019
April 17, 2019--A comparison of independent forecasts for the UK economy in April 2019.
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Source: HM Treasury
Germany lowers 2019 growth forecast to 0.5 percent
April 17, 2019--The German government is forecasting significantly weaker economic growth this year. The economics minister says the new figures are a "wake up call."
The German government on Wednesday announced it expected significantly lower economic growth for 2019 than previously announced.
This year, it expects the gross domestic product to grow just 0.5%, down from the 1% previously forecast. The forecast is more pessimistic that industry predictions, with leading economists lowering their growth forecast to 0.8%.
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Source: Deutsche Welle
City of London cements dominance of renminbi trading
April 17, 2019--Average daily trading volumes of the Chinese currency in London reached £76.6 billion
The UK accounted for 37 per cent of renminbi foreign exchange transactions outside of China in January.
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Source: FT.com
SIX Swiss Exchange-ETF Market Report: 1st Quarter 2019
April 17, 2019--This report provides detailed figures regarding the performance of the ETF segment of SIX.
In the first quarter of 2019, the Swiss ETF market benefited from the thoroughly dynamic start on financial markets, as the latest edition of our ETF Market Report shows. Trading turnover increased by 11.94% quarter on quarter to CHF 28.6 billion. All asset categories saw an upturn, while 261'176 trades were carried out.
With an 86.44% share of the total quarterly ETF turnover (Q4: 85.11%), equity ETFs were still the undisputed market leader, followed by bond ETFs at 6.85% and commodities ETFs at 6.43%.
Most Traded ETFs
In the first quarter, the list of the top 20 most-traded ETFs was dominated by ETFs based on broadly diversified market indicators. The highest turnover was posted by three ETFs from UBS, which replicate the MSCI ACWI in USD as well as hedged in CHF and EUR. 16 of the 20 most-traded ETFs boosted their turnover against the previous quarter.
New ETFs on SIX
During the first quarter of 2019, 43 new ETFs were listed on SIX. As a result, investors enjoy a choice of 1'470 ETFs from 25 issuers (as of 31 March 2019).
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Source:SIX Swiss Exchange Ltd
New Amundi ETF on Xetra: Bonds from companies with good sustainability ratings
April 16, 2019--Since Tuesday a new Exchange Traded Fund (ETF) issued by Amundi is tradable via Xetra and Börse Frankfurt
With the Amundi ETF-AMUNDI INDEX US CORP SRI UCITS ETF DR - USD investors can participate in the performance of fixed-interest investment-grade debt securities, which are denominated in US dollars and issued by companies meeting good sustainability criteria.
The underlying benchmark index excludes bonds issued by companies involved in alcohol, tobacco, gambling, military and civil weapons, nuclear power, pornography or genetic manipulation business.
Name: AMUNDI INDEX US CORP SRI UCITS ETF DR-USD
Asset class: Bond ETF
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Source: Deutsche Börse Cash Market
New iShares ETF on Xetra: Exclusive access to emerging Gulf States region
April 16, 2019--A new iShares Exchange Traded Fund has been available for trading on Xetra and Börse Frankfurt since Tuesday.>br>
The iShares MSCI Saudi Arabia Capped UCITS ETF (Acc) offers investors access to large to mid cap Saudi Arabian equities.
This fully replicating ETF is based on the MSCI Saudi Arabia 20/35 index, which ensures a diversified index composition through a maximum share weighting of up to 35 per cent for the largest issuer and up to 20 per cent for the other issuers.
The iShares MSCI Saudi Arabia Capped UCITS ETF (Acc) offers investors access to large to mid cap Saudi Arabian equities. This fully replicating ETF is based on the MSCI Saudi Arabia 20/35 index, which ensures a diversified index composition through a maximum share weighting of up to 35 per cent for the largest issuer and up to 20 per cent for the other issuers.
The investment product is tradable as an accumulating share class.
Name:iShares MSCI Saudi Arabia Capped UCITS ETF (Acc)
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Source: Deutsche Börse Cash Markets
Monday Morning Memo: Review of the European ETF Market, March 2018
April 15, 2019--The promoters of ETFs in Europe enjoyed net inflows for March. These inflows led, in combination with a positive performance of the underlying markets, to increased assets under management in the European ETF industry.
In more detail, the assets under management in the European ETF industry increased from €707.3 bn as of February 28, 2019, to €725.2 bn at the end of March. The increase of €17.9 bn for March was driven by the performance of the underlying markets (+€12.7 bn), while net sales contributed inflows of €5.2 bn to assets under management in the European ETF segment.
With regard to the overall number of products, it was not surprising equity funds (€504.3 bn) held the majority of the assets, followed by bond funds (€190.4 bn), commodity products (€18.8 bn), "other" funds (€5.5 bn), money market funds (€4.0 bn), mixed-asset funds (€1.6 bn), and alternative UCITS products (€0.6 bn).
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Source: Refinitiv
Lyxor-Informed Investor: Money Monitor March 2019-European ETF flows slow again
April 15, 2019--Net new assets in the European ETF market decelerated in March to €5.2bn from the €13.7bn we saw in February. Equity inflows collapsed (-€1.7bn) after strong outflows from developed market equities (-€2.1bn) and lesser inflows into emerging markets equities (€0.4bn). At the same time, fixed income ETFs enjoyed massive inflows (€5.8bn) for a fourth consecutive month driven by developed corporate bonds and emerging market government bonds.
Commodity ETFs flows, which had turned ever so slightly positive last month, resumed their negative trend.It was another positive month for Smart Beta ETFs with €1.1bn of inflows, mostly on the quality factor. Lastly, ESG flows (€406m) were far lower than in February (€1.1bn) but are still positive on every one of the ESG categories.
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Source: Lyxor
Broker research spending slashed after Mifid II
April 13, 2019--Budgets 'down by an average of 30 per cent' but variations are significant
The second Markets in Financial Instruments Directive, known as Mifid II, which came into effect last year, forced asset managers to separate the cost of research from trading commissions paid to brokers, a process known as unbundling.
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Source: FT.com
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