OECD-Further reforms needed for a stronger and more integrated Europe
June 19, 2018--The European economy is growing robustly, helped by accommodative monetary policy, mildly expansionary fiscal policy and the global acceleration.
The current economic expansion should be used to speed up implementation of reforms to the euro area architecture and EU policies that would support greater European integration and ensure stronger, more inclusive long-term growth, according to two new reports from the OECD.
The latest OECD Economic Survey of the European Union and Economic Survey of the Euro Area look at the factors behind the strong recovery, as well as the challenges facing Europe. The Surveys project growth topping 2% for the 2018-19 period, and lay out an agenda for boosting long-term growth and living standards across Europe.
view more
Source: OECD
EDHEC-Risk Institute Newsletter-June Issue
June 19, 2018--FEATURE
Applying Goal-Based Investing Principles to the Retirement Problem
A major global pension crisis is threatening the two main pillars of pension systems, due to a combination of increasing demographic imbalances and decreasing economic productivity growth.
In parallel, defined-benefit arrangements, which used to be dominant among occupational pension schemes, are progressively being closed and replaced by defined-contribution arrangements for new workers. Mathematically, the retirement investing problem can be laid out as follows: maximise the probability of reaching a target level of replacement income in retirement, while securing a minimum level.
view more
Source: EDHEC-Risk Institute
Invesco unveils first Saudi Arabia-focused ETF in Europe
June 18, 2018--Invesco has launched Europe's first Saudi Arabia ETF, the company has announced.
The Invesco MSCI Saudi Arabia Ucits ETF, will offer investors pure passive exposure to the largest economy in the Middle East. It is available in US dollars on the London Stock Exchange.
view more
Source: citywireselector.com
Secret ETF Trades Revealed by MiFID Point to Market 70% Larger
June 18, 2018--Off-exchange venues traded more ETFs than exchanges did in May
Even more ETF trades remain hidden in systematic internalizers
The value of European exchange-traded funds that are changing hands is more than 70 percent greater than previously reported, one indication of the transparency that MiFID II is bringing to the opaque world of off-exchange trading.
Traders have bought and sold an average of 121 billion euros ($140 billion) of ETFs a month this year. In 2017, the monthly average stood at 71 billion euros, according to data that was compiled by Flow Traders NV, Europe's largest trader of the securities.
view more
Source: Bloomberg
Solactive strengthens ties with LGIM launching a new suite of equity and fixed-income ESG indices
June 18, 2018--Solactive has released the Solactive L&G ESG Index Family targeted at investors who wish to go further in integrating ESG factors into their investment strategy.
This launch is the result of collaboration between Solactive and Legal & General Investment Management (LGIM), which combines LGIM’s proprietary Environmental, Social and Governance (ESG) scoring system- with Solactive's multi-asset expertise in the development of innovative indices.
With this new launch, Solactive expands its range of ESG indices, offering exposure to each region in the Developed Markets Equity universe, including Asia-Pacific, Europe, Japan, North America, and the UK.
view more
Source: Solactive AG
Thomson Reuters-Monday Morning Memo: Review of the European ETF Market, May 2018
June 18, 2018--The promoters of ETFs in Europe enjoyed net inflows for May, which in combination with a generally positive market environment, led to increasing assets under management in the European ETF industry (€663.7 bn, up from €651.9 bn at the end of April 2018).
The increase of €11.8 bn for May was driven by the performance of the underlying markets (+€10.3 bn), while net sales contributed €1.5 bn to the increase in assets under management in the European ETF segment.
With regard to the overall number of products, it was not surprising that equity funds (€475.9 bn) held the majority of the assets, followed by bond funds (€155.8 bn), commodity products (€21.0 bn), "other" funds (€6.6 bn), money market funds (€3.4 bn), mixed-asset funds (€0.7 bn), and alternative UCITS products (€0.4 bn).
view more
Source: Detlef Glow, Thomson Reuters
Britain's FCA to probe impact of EU asset management rules
June 18, 2018--Britain's regulator will launch an investigation into the impact of new European Union rules on the asset management industry after concerns were raised about how they affect the pricing of investment research and other issues.
The change in rules was aimed at pushing more stock trading onto regulated public exchanges, where prices are visible to all, and giving retail investors more information about potential investment returns.
The rules-the Markets in Financial Instruments Directive II (MiFID II) and the Packaged Retail and Insurance-based Investment Products (PRIIPs) Regulation-for some funds, came into force in January.view more
Source: gulf-times.com
Europe's First Smart Beta China A-Shares ETF Launches
June 18, 2018--China Post Global announced today the launch of the Market Access STOXX(R) China A Minimum Variance Index UCITS ETF (ISIN LU1750178011). The new ETF implements a minimum variance approach to China's onshore stock market and is the first smart beta ETF on China to launch in Europe.
The fund will track the performance of the STOXX(R) China A 900 Minimum Variance Unconstrained AM index which selects and weights stocks listed on the Shanghai and Shenzhen stock exchanges based on their volatility and how heavily they are traded on exchange, with the aim of reducing overall index volatility.
view more
Source: Source: China Post Global
IMF Staff Country Reports Switzerland : Selected Issues
June 18, 2018--TAXATION OF CORPORATIONS IN SWITZERLAND1
A. Introduction
1. The Swiss government is proposing a major tax reform, primarily of the corporate income tax (CIT). On March 21, 2018, the Swiss Federal Council made a proposal to reform the CIT
(known as 'Tax Proposal 17'), after the rejection of a previous reform plan ('Corporate Tax Reform III') in a popular vote in February 2017.
It is foreseen that Parliament will decide on the reform this year.
According to the current schedule, the major part of the reform could enter into force in 2020 at the earliest.2
2. The substance and timing of the proposed reform were triggered by international developments in corporate taxation. In particular, Switzerland is committed to meet international minimum standards of the CIT set out in the G-20 OECD Base Erosion and Profit Shifting (BEPS) project, including Action item 5 on "countering harmful tax practices more effectively, taking into account transparency and substance". Existing preferential tax regimes in Switzerland no longer conform to these international standards. Further, the Council of the EU, in its December 2017 conclusions, included Switzerland in the group of cooperative countries, subject to the successful delivery of its commitments ('grey list').3
view the IMF Staff Country Reports Switzerland : Selected Issues
Source: IMF
Blackrock amends derivatives policy on retail funds
June 15, 2018--Blackrock has written to investors to announce it is expanding the use of derivatives on its Luxembourg and UK domiciled retail fund ranges.
The Blackrock Global Funds (BGF) range and the retail authorised unit trusts range may now use derivatives for investment purposes, whereas previous policy only allowed the financial instruments to be used for efficient portfolio management purposes.
view more
Source: portfolio-adviser.com
February 26, 2025 Tidal Trust III files with the SEC-MRP SynthEquity ETF |
February 26, 2025 Davis Fundamental ETF Trust files with the SEC-4 Davis Select ETFs |
February 26, 2025 Series Portfolios Trust files with the SEC-AdaptivTM Select ETF |
February 26, 2025 Direxion Shares ETF Trust files with the SEC |
February 26, 2025 ETF Series Solutions files with the SEC-Vest 2 Year Interest Rate Hedge ETF and Vest 10 Year Interest Rate Hedge ETF |
February 17, 2025 ETFs jump to two-thirds of all Taiwan fund assets |
February 17, 2025 China explores relaxing rules to allow multi-asset ETFs |
February 13, 2025 Mirae Asset's spot gold ETF tops $2.5b in net assets |
February 11, 2025 CTBC Launches CTBC U.S. Innovation Technology ETF, Tracking the Solactive U.S. Innovation Technology Index |
January 31, 2025 India's economy likely to grow 6.3%-6.8% in 2025/26, government report says |
February 17, 2025 ETFGI reports assets invested in the global ETFs industry surpassed the hedge fund industry by US$10.33 trillion at the end of 2024 |
February 13, 2025 Rising Rates May Trigger Financial Instability, Complicating Fight Against Inflation |
February 12, 2025 Bybit and Block Scholes Report: Timing Altcoin Season in a Sea of Uncertainty Bybit Logo (PRNewsfoto/Bybit) |
February 20, 2025 Abu Dhabi Securities Exchange welcomes the listing of Chimera iBoxx US Treasury Bill ETF |
February 11, 2025 Digital public infrastructure (DPI) will drive AI for Africa's economic transformation |
January 21, 2025 South African growth outlook has improved but inflation risks abound, central bank says at Davos |
February 12, 2025 OECD Services Trade Restrictiveness Index Policy Trends up to 2025 |