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STOXX and RiskFirst to launch LDI indices
April 19, 2018--STOXX Ltd., the operator of Deutsche Börse Group's index business and a global provider of innovative and tradable index concepts, announced today the launch of the new iSTOXX RiskFirst LDI index family. This new offering has been jointly developed with RiskFirst, the UK's leading provider of risk analytics and reporting solutions to the defined benefit pensions market.
STOXX will calculate a range of indices based on 12 profiles, capturing member type, duration, type of indexation (pre- and post-retirement), interest rate and inflation sensitivity and tax-free cash component of typical UK pension schemes. The indices combine STOXX's real-time fixed-income index calculation capabilities with a unique set of data provided by RiskFirst.
Matthew Seymour, CEO of RiskFirst, commented: "The set of indices we have developed in partnership with STOXX are a major leap forward, providing improved governance and increased accuracy in a cost-efficient solution. PFaroe is rapidly becoming an industry standard for the modelling of pension plans and therefore offers us unique insight into the behaviour of pension plan cash flow profiles at a very granular level. When combined with STOXX's extensive experience in designing innovative and objective investment benchmarks, the result is a set of indices that deliver great value to UK pension plans."
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Source: Deutsche Börse Cash Markets
VIX index and products: the AMF publishes a study on the strong volatility observed on the markets in early February 2018
April 19, 2018--Given the spike in volatility perceived by investors in early February, the AMF is publishing an analysis of the main products concerned and their behaviour during this episode. Broadly speaking, the extent of investment strategies based on volatility calls for a certain vigilance.
Following the publication on February 2 of an economic statistic, triggering fears of a rise in interest rates in the United States, the markets experienced a strong increase in volatility. The S&P 500 index fell 4.2% on February 5. The VIX index, which measures the implied volatility of S&P 500 index options, rose to 50 points in a few days, far from its 10 to 15 points average as observed in the previous months. The index has since returned to lower levels.
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Source: AMF
Progeny launches multi-asset ETF portfolio
April 18, 2018--A multi-asset ETF product that is only available through financial advisers has been launched by Progeny Asset Management.
Based in London, Leeds and Salisbury, Progeny provides wealth management and legal advice for private clients, corporates and family offices.
Its latest ETF solution, called Optimise Investment Income 60/40, is being launched by the investment management arm of Progeny Group.
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Source: portfolio-adviser.com
Official Statistics: Forecasts for the UK economy: April 2018
April 18, 2018--Forecasts for the UK economy is a monthly comparison of independent forecasts.
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Source: HM Treasury
ETFGI reports ETFs and ETPs listed in Europe gathered net inflows of US$1.46 Bn US dollars during March 2018
April 18, 2018--ETFGI, a leading independent research and consultancy firm on trends in the global ETF/ETP ecosystem, reported today that ETFs and ETPs listed in Europe gathered US$1.46 Bn in net inflows during March 2018, the lowest monthly amount since June 2015 when net inflows were US$882.99 Mn.
Year-to-date net inflows for 2018 reached US$27.40 Bn at the end of March which is less than the US$35.37 Bn in net inflows at this point last year. (All dollar values in USD unless otherwise noted.)
Highlights
Net new assets gathered by ETFs/ETPs listed in Europe were $1.46 Bn, the lowest monthly net inflows since June 2015, which saw $882.99 Mn
March 2018 marked the 42nd consecutive month of net inflows into ETFs/ETPs listed in Europe
Due to market moves assets invested in ETFs/ETPs listed in Europe decreased by 0.75%, or $6.26 Bn, during March, to $825.76 Bn
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Source: ETFGI
J.P. Morgan ETFs are a new addition for SIX
April 18, 2018-- J.P. Morgan is today bringing four ETFs to the Swiss stock exchange. Three of these are based on bonds, and one on an alternative beta strategy. This brings the number of ETFs tradable via SIX Swiss Exchange AG to 1'354. A total of 24 providers now offer their products on the Swiss stock exchange.
Two of the four J.P. Morgan products are active ETFs. This means that the portfolio manager actively monitors and optimizes the composition of the fund by buying or selling selected equities or other securities. He is therefore able to respond immediately to market trends.
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Source: SIX Swiss Exchange
Lyxor-ETF Money Monitor-April 2018
April 18, 2018--European ETF market inflows slowed sharply in March. Net New Assets fell to €992m from the €7.9bn we saw in February. Equities still attracted most of the inflows (€1.3bn) but fixed income ETFs suffered their first negative month since the end of 2016 (-€334m).
Despite outdoing fixed income by some distance, it was a weaker month for equities. US equities flows slowed but held up fairly well (€1.4bn). Japan equity flows reversed, but it remains their best ever start to a year. European equities (-€2bn) bore the brunt of the selling. In contrast, Emerging Market equities gathered €1.4bn while Global equities also enjoyed a rebound. Commodities were virtually flat at €38m.
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Source: Lyxor
Flow Traders releases March 2018 ETP market statistics
April 18, 2018--Flow Traders N.V. ("Flow Traders") (Euronext: FLOW), today releases the monthly ETP (Exchange Traded Products) market statistics for March 2018. This refers to general market observations only.
In March 2018, the total Global ETP Assets under Management (AuM) decreased to US$ 4,825bn from US$ 4,875bn in February 2018 (-1% month-on-month, source: BlackRock ETP Landscape March 2018).
That translates into a total Global ETP AuM in euro terms of € 3,923bn in March 2018 versus € 3,997bn in February 2018, with an EUR/USD FX rate of 1.22985 (rate end March 2018).
The average VIX for the month of March 2018 reached 14.64 (versus 22.46 in February 2018), with an intraday low of 14.64 (versus 13.47 as a low in February 2018) and an intraday high of 24.87 (versus 37.32 in February 2018) (Source: Bloomberg).
The data presented for EMEA includes market statistics relating to off-exchange traded flows, split into flows traded on-exchange-off-orderbook and flows traded via Multilateral Trading Facilities (MTFs) like Tradeweb and Bloomberg RfQ. The data presented for EMEA excludes flows traded via Systematic Internalisers.
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Source: Flow Traders
ESMA updates bonds transparency calculations for MiFID II/MiFIR
April 18, 2018--The European Securities and Markets Authority (ESMA) has updated today its MiFID II/ MiFIR transitional transparency calculations (TTC) for bonds.
The update relates to the liquidity assessment for bond instruments except for ETCs and ETNs. Trading venues are expected to apply the new results from 23 April 2018.
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Source: ESMA
JP Morgan partners with BlackRock on ESG bond indices
April 18, 2018--JP Morgan has unveiled three fixed income indices targeting the emerging markets universe, integrating environmental, social, and corporate governance (ESG) factors within their construction methodology. The launches mark the beginning of a wider venture, conceived in partnership with BlackRock, to introduce a suite of global bond indices revolving around sustainability.
Gloria Kim, head of the global index research group at JP Morgan, commented, "Responsible investing is becoming the cornerstone of many of our clients" strategies and having access to a proper global fixed income benchmark that integrates ESG is essential.
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Source: etfstrategy.co.uk