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Monday Morning Memo: Rough market conditions take their toll on mutual fund flows in Europe
October 29, 2018--Looking at the headline figures, the first nine months of 2018 seem to have been rough for the European fund industry. Even though the assets under management (AUM) (€10.7 tr) increased over the course of the year so far, the industry failed to attract significant new money.
The net fund flows stood at €5.9 bn at the end of September. A closer view of the underlying trends shows that European investors have started to pull out money from bond funds and surprisingly also from money market products. The general fund-flow trends are a reaction of European investors to the recent geopolitical uncertainty and the increasing interest rates.
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Source: Detlef Glow, Head of EMEA Research, Lipper
S&P Affirms Italy Credit Rating, Cuts Outlook To Negative
October 27, 2018--Rating agency Standard & Poor's on Friday maintained credit ratings for Italy but downgraded its outlook to negative from stable.
The agency left the debt rating at BBB, two notches above "junk" status.
"The Italian government's economic and fiscal policy settings are weighing on the country's economic growth prospects, a critical driver of government debt-to-GDP trajectory," it said.
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Source: markets.businessinsider.com
iShares ETF on Xetra maps MSCI Brazil
October 26, 2018--A new iShares Exchange Traded Fund has been tradable on Xetra since Friday.
The new equity ETF gives investors the opportunity to participate in the performance of the MSCI Brazil USD Index. The benchmark index currently comprises 54 large and mid-cap Brazilian companies, covering approximately 85 percent of Brazil's market capitalization.
The prices of the contained shares in US dollars are included in the index calculation. The ETF is traded on Xetra in US dollars.
Listing and trading in foreign currencies has been possible on Xetra since 2009. ETFs in US dollars, British pounds, yuan and Swedish kronor are currently traded on Xetra.
Name: iShares MSCI Brazil UCITS ETF (DE)
Asset class: Equity-ETF
ISIN: DE000A0Q4R85
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Source: Deutsche Börse Group
Euro area economic and financial developments by institutional sector: second quarter of 2018
October 26, 2018--Euro area net saving increased to €800 billion in the four quarters to the second quarter of 2018, compared with €765 billion in the four quarters to the previous quarter.
Euro area net non-financial investment increased slightly to €407 billion, as increased investments by households and reduced disinvestments by government were only partly offset by decreased investment of corporations. Euro area net lending to the rest of the world increased to €400 billion in line with an increase of net saving which exceeded that of net non-financial investments.
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Source: ECB
Unscheduled adjustment of Linde AG in DAX
October 24, 2018--On Wednesday, Deutsche B&^ouml;rse announced an unscheduled change to the DAX index. As a result of the merger of Linde AG and Praxair Inc., the Linde AG tendered shares (ISIN DE000A2E4L75), which are currently in the index, will be replaced with the shares of the new company Linde plc (ISIN IE00BZ12WP82).
The merger event will be reflected in the index by a split of 1.54 new share for every old share and by an ISIN change, from DE000A2E4L75 to IE00BZ12WP82. These changes will become effective on 29 October 2018.
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Source: Deutsche Börse Group
Twelve New iShares ETFs on Xetra: Companies Focus on Sustainability
October 24, 2018--Since Wednesday, twelve new Exchange Traded Funds from iShares have been tradable via Xetra and the Frankfurt Stock Exchange.
The new iShares ETFs give investors the opportunity to invest in companies with a comparatively high ESG rating.
Since Wednesday, twelve new Exchange Traded Funds from iShares have been tradable via Xetra and the Frankfurt Stock Exchange.
The new iShares ETFs give investors the opportunity to invest in companies with a comparatively high ESG rating. This excludes companies that are involved in the manufacturing of tobacco products, civil firearms,nuclear weapons and other controversial weapons, or generate revenues from the production of power plant coal. Companies that violate the United Nations Global Compact Principles for Corporate Sustainability are also not included in the benchmark index.
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Source: Deutsche Börse Group
Monday Morning Memo: European Fund-Flow Trends September 2018
October 22, 2018--European investors pulled further away from long-term mutual funds as the market environment and general sentiment stayed negative. As a consequence September was the fifth month in a row posting net outflows from long-term mutual funds after 16 consecutive months showing net inflows.
Real estate funds (+€0.8 bn) enjoyed net inflows, while all the other asset types in the segment of long-term mutual funds witnessed net outflows: bond funds (-€8.9 bn), alternative UCITS funds (-€8.0 bn), mixed-asset funds (-€1.9 bn), equity funds (-€1.3 bn), and ”other” funds (-€1.0 bn) as well as commodity funds (-€0.6 bn).
These fund flows added up to overall net outflows of €21.0 bn from long-term investment funds for September. ETFs contributed inflows of €5.6 bn to these flows.
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Source: Detlef Glow, Head of EMEA Research, Lipper
SMSG Advice-Own Initiative Report on Initial Coin Offerings and Crypto-Assets
October 19, 2018--I. Executive Summary
1. Goal. The goal of this report is to give advice to ESMA on steps it can take to contain the risks of ICO's and crypto assets, on top of existing regulation. Since there are no obvious stability risks yet in this respect, this report mainly focuses on risks for investors.
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Source: ESMA
More than 20 market participants sign on for retail investor platform Marketplace
October 18, 2018--Moscow Exchange today signed a memorandum of cooperation with a wide range of Russian financial market participants aimed at undertaking joint activities to grow the retail investor platform Marketplace. The memorandum was concluded at the Finopolis conference in Sochi.
The memorandum was signed by chief executives of Moscow Exchange, National Settlement Depository, Ak Bars Bank, Zenit Bank, Gazprombank, Otkritie Bank, Promsvyazbank, Rosbank, Russian Agricultural Bank, Svyaz Bank, SKB Bank, Sovcombank, Tinkoff Bank, Uralsib Bank, Bank Center-invest, Expobank, Banki.ru, Infinitum, Sravni.ru, Unicom and Fins.Money.
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Source: Moscow Exchange (MOEX)
STOXX(R) Global Fintech Index licensed to Sumitomo Mitsui Asset Management
October 18, 2018--STOXX Ltd., the operator of Deutsche Boerse Group's index business and a global provider of innovative and tradable index concepts, has licensed the STOXX Global Fintech Index to Sumitomo Mitsui Asset Management as an underlying for an investment fund.
The index is comprised of companies associated with financial technology (fintech). These businesses use technology to change how financial services are offered to end customers. They also boost the competitive edge of traditional financial service providers by improving efficiencies and driving new products and solutions. Revere Business Industry Classification System (RBICS) data allow a detailed breakdown of the revenue sources of the eligible companies, helping this index to select companies with substantial fintech exposure.P>view more
Source: Deutsche Boerse Group
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