Thomson Reuters-Monday Morning Memo: Review of the European ETF Market, April 2018
May 21, 2018--The promoters of ETFs in Europe enjoyed net inflows for April, and the assets under management in the European ETF industry increased, up to €651.9 bn at the end of April.
With regard to the overall number of products, it was not surprising that equity funds (€465.7 bn) held the majority of the assets, followed by bond funds (€155.2 bn), commodity products (€20.0 bn), “other†funds (€6.6 bn), money market funds (€3.5 bn), mixed-asset funds (€0.7 bn), and alternative UCITS products (€0.3 bn).
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Source: Thomson Reuters
FCA Automated investment services-our expectations
May 21, 2018--Our reviews
The first review looked at 7 firms offering automated online discretionary investment management (ODIM).
This is where the client has given the firm responsibility to invest on the client's behalf, within parameters agreed with the client, on an ongoing basis. At the time these firms represented over half of the firms in this particular market.
The second review looked at 3 firms providing retail investment advice exclusively through automated channels (auto advice), where customers do not interact with human financial advisers. The advice is given on a one-off basis (when the customer first engages with the firm). At the time of the review, these firms were the early entrants to this developing market. We plan to review further firms in this market later in this financial year.
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Source: Financial Conduct Authority (FCA)
Deutsche Borse decides rule changes for MDAX, SDAX and TecDAX indices
May 18, 2018--Removal of tech and classic classifications
Expansion of MDAX to 60 stocks and SDAX to 70
New methodology effective in index calculation from 24 September 2018
Deutsche Börse announced rule changes to the inclusion of companies in the MDAX, SDAX and TecDAX indices on Friday, 18 May 2018.
The tech and classic sectoral separation in the indices will be eliminated. By ending the previous separation into classic and tech segments, tech companies will also be included in the MDAX and SDAX in future. Further, DAX companies that are in the technology sectors can now also be included in the TecDAX index.
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Source: Deutsche Börse Group
ETF Money Monitor-May 2018-ETFs flows pause for breath
May 18, 2018--European ETF Market flows slowed again in April. Net New Assets (NNA) fell to €660m from the €1.3bn we saw in March. In a reversal from March, fixed income ETFs attracted most of the inflows (€1.4bn) while equity ETFs recorded their first negative month since May 2016 (-€1.5bn).
Commodities enjoyed a strong month (€677m) as the reflation trade took hold but smart beta remained out of favor at -€587m.
Equity ETFs suffered significant outflows in April, but US ETFs still enjoyed positive, albeit slower, inflows. Japan and Global markets both suffered outflows but Eurozone equity ETFs bore the brunt of the sell-off at -€2.9bn.
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Source: Lyxor
Solactive launches L&G Gender in Leadership UK Index used as the underlying index for GIRL
May 17, 2018--Underlying L&G Future World Gender in Leadership UK Index
Solactive is pleased to announce the release of the Solactive L&G Gender in Leadership UK Index used as the basis for the L&G Future World Gender in Leadership UK Index Fund ("GIRL"), the first gender-oriented fund to exclusively focus on UK-listed companies.
This launch is the result of collaboration between Solactive and Legal & General Investment Management (LGIM), which combines LGIM’s proprietary scoring system-the L&G Gender Diversity Score -with Solactive's expertise in the development of thematic indices. With this new launch, Solactive further expands its range of gender-based indices by exclusively covering the UK equity market for the first time.
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Source: Solactive AG
BNP Paribas AM strengthens ETF and index solutions team in Europe
May 17, 2018--BNP Paribas Asset Management (BNPP AM) announces the appointment of two new additions to its Exchange Traded Funds (ETF) and Index Solutions team; Maude Rivierre Bianchi and Chiara Solazzo.
Maude Rivierre Bianchi joined on April 23 as a Product Specialist. She is based in Paris and reports to Bertrand Alfandari, Head of ETF development. Chiara Solazzo joined on May 2 as a member of the ETF and Index Solutions sales team Milan and reports to Sabrina Principi, Head of ETF Sales for Italy and Spain.
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Source: BNP Paribas Asset Management
New ETF Listing on Euronext-Amundi Asset Management
May 16, 2018--Euronext is pleased to announce that Lyxor International AM will list 1 new ETF on 18/05/2018 :
ISIN: LU1810006863
ETF Trading name: LYXOR SCIENT BETA
:
ETF Symbol: MFLS
Venue: Euronext Paris
Underlying index: SBELS35N VAR Controlled EUR Total Return Index
TER (%):0,55
Euronext now offers 752 Trackers listed on the European markets.
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Source: Euronext
New Xtrackers ETF on emerging market bonds launched on Xetra
May 16, 2018--A new exchange traded fund issued by DWS has been tradable on Xetra and Börse Frankfurt since Wednesday.
The new Bond index ETF enables investors to participate in the performance of investment-grade and high-yield emerging market bonds denominated in US dollars.
The bonds contained in the reference index are exclusively denominated in US dollars, not in the local currencies. The bonds may be issued by governments, regional governments or government-related entities. To be included in the index, the bonds must meet specific criteria, including minimum credit ratings of the issuers.
Name: Xtrackers II USD Emerging Markets Bond UCITS ETF 2D
Asset class: bond index ETF
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Source: Deutsche Börse Cash Markets
New HSBC active ETFs on stock corporations worldwide launched on Xetra
May 16, 2018--Two new active exchange traded funds issued by HSBC Global Asset Management have been tradable on Xetra and Börse Frankfurt since Wednesday.
The two active ETFs enable investors to participate in the performance of stock corporations anywhere in the world. The stocks are selected through active asset management.
The HSBC Multi-Factor Worldwide Equity UCITS ETF comprises companies assessed and selected based on the factors of value, quality, momentum, low risk and size. The portfolio's risk characteristics are minimised through the application of a series of constraints on sector and stock weights.
The HSBC Economic Scale Worldwide Equity UCITS ETF comprises stock corporations that are selected on the basis of their economic scale. A company's economic scale is measured on the basis of its contribution to gross national product.
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Source: Deutsche Börse Cash Markets
Euro Area Securities Issues Statistics: March 2018
May 16, 2018--The annual growth rate of the outstanding amount of debt securities issued by euro area residents was 1.5% in March 2018, compared with 1.3% in February.
For the outstanding amount of listed shares issued by euro area residents, the annual growth rate was 1.0% in March 2018, compared with 0.9% in February.
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Source: ECB
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