IMF Staff Country Reports-Russian Federation: Selected Issues
September 12, 2018--THE STATE'S FOOTPRINT IN THE ECONOMY1
The Russian State leaves a deep footprint in the economy. The state's size was around 33 percent of GDP in 2016, but close to 40 percent for the formal sector.
Available cross-country employment data suggests that the Russian state's is relatively large, similar to that of Scandinavian countries. In sectors where the state's share is high, economic concentration is larger, but concentration is large even in sectors where the state's share is low. Existing policies to protect and promote competition, including in state procurement, need to be strengthened.
A.Introduction
1.The mainstream narrative is that the Russian state is large and that its size increased considerably in the last few years.
view the IMF Staff Country Reports-Russian Federation: Selected Issues report
Source: IMF
IMF Staff Country Reports-Portugal : Selected Issues
September 12, 2018--FINANCIAL CONDITIONS AND GROWTH AT RISK IN PORTUGAL1
A. Introduction
1. The macro-finance literature and recent experience provide compelling evidence that
financial imbalances grow in good times, creating downside risks to economic growth.
Indeed, when confidence in economic prospects is high and financial conditions benign, households, firms and financial intermediaries tend to take excessive risk, leading to an increase in leverage, maturity mismatches and other balance sheet weaknesses.2 In presence of elevated imbalances, a negative shock can force borrowers into default or fire sales, putting pressure on lenders' profits and collateral values, and disrupting financial intermediation. This can result in higher odds of severe and prolonged economic contraction.3 Thus, financial conditions that cause financial vulnerabilities to build up in good times could convey valuable information about downside risks to future GDP growth.
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Source: IMF
Neuberger Berman hires European bond team from BNP Paribas AM
September 11, 2018--Neuberger Berman has hired a six-strong team of European fixed income investment professionals from BNP Paribas Asset Management.
Consisting of five portfolio managers and one quantitative analyst, the US manager's new team is led by Patrick Barbe, who was chief investment officer of Euro sovereign and aggregate fixed income at the French asset manager.
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Source: IP&E
Deutsche Boerse widens its market data offering to include FX markets
September 10, 2018--Deutsche Börse and 360T, Deutsche Börse Group's FX unit, to serve FX markets with independent streaming swap market data
Deutsche Börse Market Data + Services and Deutsche Börse foreign-exchange (FX) trading venue 360T are launching a product offering covering FX spot market as well as FX swap market data.
FX swap market information is based on a contribution model of liquidity providers developed in cooperation with the Germany-based company DIGITEC.
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Source: Deutsche Börse Cash Market
Asset managers' hunt for index trackers drives M&A
September 9, 2018--Scarcity of targets in the sector is pushing up valuations
It took six months of talks between Legal & General Investment Management and ETF Securities, a specialist provider, before negotiations moved on from discussing partnership terms to agreeing a part takeover by the UK's biggest investment manager.
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Source: FT.com
New UBS ETF on Xetra tracks emerging market government bonds denominated in US dollars and local currencies
September 7, 2108--Since Friday, an Exchange Traded Fund of the issuer UBS Global Asset Management has been tradable via Xetra and the Frankfurt Stock Exchange.
The new bond ETF gives investors the opportunity to participate in the performance of government bonds issued by emerging markets denominated in their local currency or in US dollars.
The benchmark index includes government bonds issued by emerging markets in their local currency with a maximum maturity of three years. These bonds are selected on the basis of carry and momentum factors. On the other hand, the ETF invests in emerging market short-term government bonds denominated in US dollars with a maturity of one to five years.
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Source: Deutsche Börse Cash Market
New ETF Listing on Euronext-
September 7, 2018--Euronext is pleased to announce that Amundi Asset Management will list 1 new ETF on 11/09/2018:
ISIN: LU1861132840
ETF Trading name:AMUNDI STOXX GL AI
ETF Symbol: GOAI
Venue: Euronext Paris
Underlying index: STOXX AI Global Artificial Intelligence ADTV5
TER(%): 0,35
Euronext now offers 764 Trackers listed on the European markets.
more info
Source: euronext.com
Volatility spikes underline fragilities and risks to EU securities markets and investors
September 6, 2018--European Union (EU) securities markets, infrastructures and investors face new risks in the form of high volatility, the European Securities and Markets Authority (ESMA) said today in its latest Trends, Risks, and Vulnerabilities (TRV) Report (No 2, 2018).
ESMA also re-iterated its concerns about cyber risk and Brexit risks for business operations.
The TRV, which covers the first half of 2018, finds that overall risk levels for the EU's securities markets remained stable but at high levels for most risk categories.
view the ESMA Report Trends, Risks, and Vulnerabilities (TRV) Report (No 2, 2018)
Source: ESMA
Asset managers 'have something to hide' from pension trustees
September 6, 2018--Millions of savers may be paying more than the charge cap, MPs told
Some asset managers will refuse a request by pension trustees to hand over data on the charges they levy pension savers because "they have something to hide", a parliamentary committee has been told.
Giving evidence to MPs on the work and pensions select committee, Chris Sier, who headed a Financial Conduct Authority working group on pension fee transparency, said he expected some asset managers would resist attempts to make known the full extent of their fees.P>view more
Source: FT.com
BNP Paribas Asset Management Strengthens ETF And Index Solutions Sales Team In Germany
September 6, 2018--BNP Paribas Asset Management ('BNPP AM') announces the continued expansion of its ETF[1] and Index Solutions team in Germany with the appointment of Florian Schoeps as ETF and Index Solutions Sales Trader.
Based in Munich, Florian joined on 1 August and reports to Claus Hecher, Head of Business Development for Germany, Austria and the German-speaking areas of Switzerland.
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Source: BNP Paribas Asset Management
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