The Spanish Exchange traded 65.9Euro billion in May, up 6.4% year-on-year
June 1, 2018--The Spanish Exchange traded €65.9 billion in Equities in May, up 0.4% from the preceding month and up 6.4% year-on-year. The number of trades in May reached 3.9 million, up 34.1% from the same month in 2017.
Trading of Financial Derivatives in May increased 21% from May 2017. There was growth in IBEX 35 Futures (28%), Mini IBEX Futures (10%), IBEX 35 Options (15.4%) and in Stock Futures (442%). The open interest in Mini IBEX Futures was up 5%, up 3% in Stock Futures and up 43% in IBEX 35 Options.
In Fixed Income, it is worth mentioning that the traded volume in May was double that corresponding to the same month last year. The volume of new issues admitted to trading on MARF reached €472 million and represents an increase of 40.9% compared to the same period the previous year.
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Source: Bolsas y Mercados Españoles
'David' takes aim at 'Goliath' Invesco in row over fund fees
June 1, 2018--Falling out between trust and manager is 'line in sand', say analysts.
A row between a small investment trust and Invesco, the giant asset manager, has "drawn a line in the sand" over high fund charges, say analysts.
Invesco Perpetual Enhanced Income, an investment trust with a £122m market cap, defied £108bn Invesco when it argued last month that the fees it paid were too high. In an unorthodox move, Invesco resigned as manager of the trust. It subsequently called for IPE chairman Donald Adamson and non-executive director Richard Williams to be replaced. Both men were central to challenging Invesco's fees.
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Source: FT.com
S&P Dow Jones Indices-Europe Dashboard
May 31, 2018--Summary
It was a month of two halves for the S&P Europe 350. It started May on the front foot courtesy of a more co-operative tone between the U.S. and China, and indications that Italy would finally have a government.
But a re-emergence of trade tensions, and a substantial increase in Italian and Spanish political risk, later weighed on the European equity benchmark. Overall, it managed to eke out a 0.25% monthly gain.
As uncertainty rose, quality-oriented S&P Europe 350 equity strategies came to the fore this month; Dividend Aristocrats and Quality led the way. Enhanced Value brought up the rear as it fell 3.48%.
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Source: S&P Dow Jones Indices
Turkey Economic Monitor: Minding the External Gap
May 31, 2018--Taking Stock
A strong policy response-on the back of fiscal buffers, a strong financial system, and favorable external conditions-enabled Turkey to recover from its shock of 2016, with growth accelerating to 7.4 percent in 2017.
Countercyclical fiscal policy and private sector credit boosted demand, and helped overcome labor market and financial sector rigidities to accelerate production. Short-term fiscal and credit measures helped avert a bigger collapse in demand and production after the economy contracted in Q3 2016. They also contributed to progress on poverty reduction.
The balance of risks in the Turkish economy since Q3-Q4 2017 has shifted from growth to stability.
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Source: World Bank
ETFGI reports ETFs and ETPs listed in Europe gathered net inflows of US$2.15 Bn during April 2018
May 31, 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$2.15 Bn in net inflows during April 2018, less than half of the net new assets gathered during the same month in 2017.
Year-to-date net inflows for 2018 reached US$29.55 Bn at the end of April which is less than the US$40.59 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 $2.15 Bn, which is less than half of the net new assets gathered in April 2017
April 2018 marked the 43rd consecutive month of net inflows into ETFs/ETPs listed in Europe
Due to market moves assets invested in ETFs/ETPs listed in Europe increased by 0.54%, or $4.45 Bn, during April, to $830.21 Bn
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Source: ETFGI
Arkera appoints Townsend Lansing to scale offering
May 31, 2018--Arkera, a new AI-powered platform that helps self-directed investors make investment decisions by connecting news content to investment products, has hired Townsend Lansing as chief commercial officer.
Lansing, who has spent a decade in the growing exchange traded fund (ETF) sector, will oversee the deployment of Arkera's ETF platform for brokers and retail investors in Europe and North America.
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Source: FTSE Global Markets
New WisdomTree bond index ETFs launched on Xetra
May 30, 2018-Two exchange traded funds issued by WisdomTree are tradable on Xetra and Börse Frankfurt as of Wednesday.
The WisdomTree AT1 CoCo Bond UCITS ETF-USD enables investors to participate in the performance of CoCo bonds (bonds that obligatorily convert to equity when triggered) issued by European financial institutions and are denominated in euros, US dollars or pounds sterling.
CoCo bonds are a form of hybrid debt security that are intended to either convert into equity or have their principal partially or completely written off, or written off by the issuer with the option of revaluation under certain circumstances. CoCos, like subordinated bonds, serve to absorb the issuer's capital losses before other higher-ranking liabilities. WisdomTree CBOE S&P 500 PutWrite UCITS ETF-USD Acc enables investors to invest in a collateralised put write option strategy. This strategy initially comprises the sale of S&P 500 put options traded on the Chicago Board Options Exchange (CBOE).
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Source: Deutsche Börse Cash Markets
New Ossiam active ETF on sustainable US companies launched on Xetra
May 30, 2018--A new active exchange traded fund issued by Ossiam is tradable on Xetra and Börse Frankfurt as of Wednesday.
The active ETF enables investors to participate in the performance of US stock corporations with a high ESG rating.
Index components must be included in the Shiller Barclays CAPE US Sector Value Net TR Index and are selected by means of an active investment strategy based on environmental, social and governance factors as well as the company's carbon footprint.
Name: Ossiam ESG Low Carbon Shiller Barclays CAPE US Sector UCITS ETF
Asset class: equity index ETF
ISIN: IE00BF92LV92
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Source: Deutsche Börse Cash Markets
Amundi adds to ESG push with corporate bond ETF launch
May 30, 2018--Amundi has launched a socially responsible US corporate bond ETF, in line with a growing market-wide trend towards passive ESG products.
The Amundi Index US Corp SRI-Ucits ETF DR invests in US dollar denominated investment grade corporate bonds, while applying an environmental, social and governance filter.
The ESG criteria exclude issuers involved in alcohol, tobacco, military weapons, gambling, adult entertainment, GMO and nuclear power.
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Source: citywireselector.com
New iShares ETF on Indian stock corporations launched on Xetra
May 30, 2018--A new exchange traded fund issued by iShares is tradable on Xetra and Börse Frankfurt as of Wednesday.
The ETF enables investors to participate in the performance of high and mid-cap Indian stock corporations. The MSCI Emerging Markets India Net TR (USD) Index comprises equities from Indian companies that meet certain MSCI size, liquidity and free-float criteria.
The reference index currently comprises 79 companies and thus covers around 85 percent of the Indian equity universe.
Name: iShares MSCI lndia UCITS ETF
Asset class: equity index ETF
ISIN: IE00BZCQB185
Ongoing charges p.a.: 0.65 percent
Distribution policy: distributing
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Source: Deutsche Börse Cash Markets
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