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Review of the European ETF Market, December 2018
January 18, 2019--The promoters of ETFs in Europe enjoyed net inflows for December. Nevertheless, the assets under management in the European ETF industry decreased as the inflows were not able to offset the negative performance of the underlying markets. In more detail, the assets under management in the European ETF industry decreased from €666.1 bn as of November 30, 2018, to €633.1 bn at the end of December.
The decrease of €33.0 bn for December was driven by the performance of the underlying markets (-€35.3 bn), while net sales contributed inflows of €2.3 bn to assets under management in the European ETF segment.
With regard to the overall number of products, it was not surprising that equity funds (€437.5 bn) held the majority of the assets, followed by bond funds (€166.4 bn), commodity products (€18.2 bn), “other” funds (€5.2 bn), money market funds (€4.5 bn), mixed asset funds (€1.0 bn), and alternative UCITS products (€0.4 bn).
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Source: Detlef Glow, Head of EMEA Research, Lipper
Vanguard moves into Italy with ETF range
January 18, 2019--The world's largest investment group, Vanguard, has announced its expansion into Italy by listing a range of 19 equity and fixed income ETFs on the Borsa Italiana.
Founded in 1975 as a pioneer of low cost investing for individuals, Vanguard currently has $5.1 trn (€4.5trn) in assets under management globally in both index and active strategies.
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Source: expertinvestoreurope.com
European AI platform launches with EUR 20m EU funding
January 17, 2019--The EU's AI4EU artificial intelligence project officially launched Thursday with a view to mobilising Europe's AI community to build the first European on-demand Artificial Intelligence (AI) platform.
AI4EU brings together 79 top research institutes, SMEs and large enterprises in 21 countries to build a focal point for artificial intelligence (AI) resources, including data repositories, computing power, tools and algorithms.
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Source: eubusiness.com
SocGen Considers Shutting $4.7 Billion Prop-Trading Unit
January 17, 2019--Executives reviewing future of Descartes division: sources
Crosstown rival BNP shuttered prop-trading unit last week
Societe Generale SA is considering closing its proprietary-trading unit, people familiar with the matter said, a week after French rival BNP Paribas SA decided to shut its operation.
SocGen executives are reviewing the future of the Descartes Trading division, which makes risky bets with its shareholders’ funds, said the people, who requested anonymity as the details are private.
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Source: Bloomberg
RBC I&TS extends position in Sweden following appointment by Nordea Markets
January 16, 2019--RBC Investor & Treasury Services, part of Royal Bank of Canada (RY on TSX and NYSE), today announced that it has been appointed by Nordea Markets to provide custody, fund administration, transfer agency and related services for its UCITS Exchange Traded Funds (ETF) business listed in Sweden
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Source: RBC Investor & Treasury Services
Official Statistics: Forecasts for the UK economy: January 2019
January 16, 2019--A comparison of independent forecasts for the UK economy in January 2019
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Source: HM Treasury
ESMA reports on accepted market practices under MAR
January 16, 2019--The European Securities and Markets Authority (ESMA) has published today its annual report on the application of accepted market practices (AMP) in accordance with the Market Abuse Regulation (MAR).
AMPs are a defence against allegations of market manipulation. In particular, dealings in financial markets which are carried out for legitimate reasons and in conformity with an established AMP will not constitute market manipulation.
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Source: ESMA
BNPP AM strengthens sales team in Germany
January 16, 2019--BNP Paribas Asset Management (BNPP AM) has appointed Katharina Anna Rost to its ETF and Indexed Fund Solutions team in Germany, strengthening its sales capability and supporting its growth in the DACH region, effective 7 January 2019.
Rost reports to Claus Hecher, head of Sales Development for ETFs and Indexed Fund Solutions in Germany, Austria and German-speaking Switzerland. In this new role she will focus on promoting indexed fund solutions, including the BNP Paribas Easy range, to German investors.
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Source: investmenteurope.net
Lyxor lists Green Bond ETF in Sweden
January 16, 2019--On Tuesday 15th January, Lyxor launched our Green Bond ETF on the Nasdaq OMX Stockholm exchange.
The Lyxor Green Bond (DR) UCITS ETF (listing code LYXGREEN SS) was the world's first green bond ETF, and this is Lyxor's first Swedish listing.
We're committed to the Nordic region and to helping Swedish investors access funds with an environmental purpose.
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Source: Lyxor
Solactive Global Gold Giants Index launched as underlying for new Harvest Portfolios Group ETF
January 15, 2019--Solactive is pleased to announce the launch of the Solactive Global Gold Giants Index, which will be used as the underlying of Harvest Portfolios Group Inc.'s Harvest Global Gold Giants Index ETF (TSX: HGGG).
The Index intends to track the price movements of the 20 largest gold mining companies by company market capitalization listed on a regulated stock exchange in North America, Australia or in certain European countries.
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Source: Solactive