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Lipper Monday Morning Memo: European Investors Shy Away From Equities over August 2017
September 25, 2017--August was the eighth consecutive month showing a positive picture for long-term mutual funds. European fund promoters enjoyed net inflows into bond funds (+€21.3 bn), followed by mixed-asset funds (+€8.2 bn), and alternative UCITS funds (+€2.1 bn).
Meanwhile, equity funds (-€1.2 bn), real estate funds (-€0.8 bn), "other" funds (-€0.7 bn), and commodity funds (-€0.02 bn) faced net outflows.
These fund flows added up to overall net inflows of €28.9 bn into long-term investment funds for August. ETFs contributed €3.2 bn to these inflows.
Theresa May urges EU to retain trade terms for two years after Brexit
September 22, 2017--PM Theresa May has said there should be a transition period of "about" two years after Brexit, during which trade should continue on current terms.
EU migrants will still be able to live and work in the UK but they will have to register with the authorities, under her proposals.
And the UK will pay into the EU budget so member states are not left out of pocket.
New ETF Listing on Euronext-BNPP EMEHETF
September 22, 2017--Euronext is pleased to announce that BNP PARIBAS EASY will list 1 new ETF on 26/09/2017:
ISIN: LU1547516291
ETF Trading name: BNPP EMEHETF
ETF Symbol: EMEH
Venue: Euronext Market
Underlying index: BNP Paribas Energy & Metals Enhanced Roll (TR)
TER(%): 0,49
Euronext now offers 783 Trackers listed on the European markets.
FTSE Russell and State Bank of India launch Indian bond index series
September 22, 2017--FTSE SBI Bond Index Series launched
Provides investors with tools to analyse India's domestic government bond market
FTSE Russell, the global index and data provider and the State Bank of India (SBI) have launched the FTSE SBI Bond Index Series. The index series gives market participants from India, the UK and internationally the tools they need to analyse India's government bond market.
ECB to publish new unsecured overnight interest rate
September 21, 2017--Overnight benchmark interest rates important for financial markets and monetary policy implementation
ECB overnight rate will complement existing benchmark rates produced by the private sector and serve as a backstop to private sector benchmark rates
Preparations for rate to be finalised before 2020, including industry consultation.
New Working Group on a Risk-Free Reference Rate for the Euro Area
September 21, 2017--Today, the Financial Services and Markets Authority (FSMA), the European Securities and Markets Authority (ESMA), the European Central Bank (ECB) and the European Commission announce the launch of a new working group tasked with the identification and adoption of a risk-free overnight rate which can serve as a basis for an alternative to current benchmarks used in a variety of financial instruments and contracts in the euro area.
Ensuring broad market acceptance is vital for the effective functioning of any alternative to existing benchmark rates.
view more IMF Staff Country Reports-France: Selected Issues view the IMF Staff Country Reports-France: Selected Issues report ESAs highlight main risks for the EU financial system FCA publishes findings from the Ageing Population Project EC-Creating a stronger and more integrated European financial supervision for the Capital Markets Union
September 21, 2017--The government's planned tax reforms are an important opportunity to make capital taxation in France more efficient and growth friendly. The current system is characterized by a range of distortions and inefficiencies.
The corporate income tax (CIT) regime features a high statutory rate but low revenue productivity, as well as a bias toward debt financing, ineffective size-dependent regimes, and inefficient tax incentives. Profit-insensitive taxes are comparatively high. Anti-tax-avoidance rules are strong, but risks to outbound profit shifting remain. Tax uncertainty is another concern.
September 21, 2017--The Joint Committee of the European Supervisory Authorities (EBA, EIOPA and ESMA-ESAs) published today its Autumn 2017 Report on risks and vulnerabilities in the European Union's financial system.
The Report highlights the risks to the stability of the European financial sector in an uncertain political and economic environment, not least in light of the UK's withdrawal from the EU. It also highlights persistent valuation risk with an uncertain outlook for yields and argues that financial institutions continue to face profitability challenges in spite of recent improvements. Rapid developments in the area of FinTech are raising new opportunities, but also challenges for financial institutions and final users.
September 21, 2017--The Financial Conduct Authority (FCA) has today published an Occasional Paper outlining the findings from a project that explored how the ageing population would impact the Financial Services industry.
The FCA launched the Ageing Population Project in February 2016 to explore how older people use financial services and products. The paper reviews the public policy implications of having a population which is getting older and the resulting impact on financial services. The document also includes actions which the FCA and industry could take to better support older people.
September 20, 2017--European consumers, investors and businesses will benefit from stronger and more integrated financial markets, thanks to plans by the Commission to reform the EU's supervisory architecture.
The European Commission is today proposing reforms to pave the way for further financial integration and a full Capital Markets Union, to promote jobs, growth and investments in Europe and to strengthen the Economic and Monetary Union.
