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Thomson Reuters-Monday Morning Memo: Which Factors Drive Fund Flows in Europe?
December 4, 2017--Within the European fund industry calculation of fund flows is quite common, since market observers, fund associations, and even fund promoters publish and comment on these numbers to showcase the success of the fund industry and/or single products and to comment on current trends in Europe.
But for fund promoters it is often a riddle as to why investors are buying a specific fund, given its performance. That said, a few companies-mainly consultants-look behind the scenes at the fund level to try to determine the main drivers of fund flows to help their clients gain inflows to their funds. With this blog I also try to shed light on possible drivers behind fund flows.
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Source: Detlef Glow, Head of EMEA Research-Thomson Reuters Lipper
Boerse Stuttgart generates turnover in excess of EUR 7.5 billion in November
December 4, 2017--Significant increase in turnover across all asset classes
Some of the highest trading volumes of the year were recorded last month: according to its order book statistics, Boerse Stuttgart generated turnover of more than EUR 7.5 billion in November 2017.
The trading volume was almost 24 percent higher than in the previous month.
Securitised derivatives accounted for the largest share of the turnover. The trading volume in this asset class was around EUR 3.2 billion-an increase of more than 29 percent in comparison with the previous month
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Source: Boerse Stuttgart
Transaction fees can multiply OCFs by 500 per cent, research shows
December 4, 2017--The implementation of Mifid II will highlight how high fund transaction fees can be, with some as much as 500 per cent of the quoted ongoing charge figure.
Independent fund research company Fitz Partners calculated transaction fees from audited fund accounts and measured the impact they would have on funds' OCFs when both costs are aggregated.
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Source: fundstrategy.co.uk
Xetra trading ready for MiFID II
December 4, 2017--Update for Deutsche Börse's T7 trading system/Regulatory requirements implemented
As of today, Xetra trading is ready to meet the requirements of MiFID II, the European Markets in Financial Instruments Directive, which goes into effect at the beginning of 2018.
Deutsche Börse's underlying T7 trading system was therefore updated to Release 6.0.
MiFID II places new requirements on pre and post-trade transparency-algorithmic trades must be designated as such in the future.
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Source: Deutsche Börse Cash Market
MOVES-BNP Paribas asset management arm hires Lelief to ETF sales team
December 4, 2017--The asset management arm of BNP Paribas appointed Elodie Lelief to its ETF and indexed fund solutions sales team.
Lelief, who began her career at BNP Paribas in 2006 as a financial analyst for key corporate accounts, will focus on French-speaking clients, the firm said
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Source: Reuters
S&P 500 UCITS ETF with currency hedge launched by UBS Global Asset Management on Xetra
December 4, 2017--ETF tracks the performance of the 500 largest public US companies
A new exchange traded fund (ETF) issued by UBS Global Asset Management has been tradable on Xetra and Börse Frankfurt since Monday.
The new ETF offers investors the opportunity to participate in the performance of the 500 largest exchange-listed US companies. The S&P 500 Index represents the most important US sectors and is calculated in US dollars, but this unit class hedges the exchange rate risk between the euro and the US dollar. The companies included in the index are weighted according to their market capitalisation.
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Source: Deutsche Börse Cash Market
After NASDAQ, Moscow Stock Exchange is Planning to Introduce Bitcoin Futures
December 4, 2017--In August, the Russian exchange announced its infrastructural development to trade cryptocurrencies.
Russia's largest stock exchange, the Moscow Stock Exchange (MOEX), is now planning to introduce Bitcoin futures on the platform, as reported by news.bitcoin.com.
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Source: financemagnates.com
New Fidelity International smart beta ETF launched on Xetra
December 1, 2017--A new exchange traded fund (ETF) issued by Fidelity International has been tradable on Xetra and Börse Frankfurt since Friday. The new smart beta ETF enables investors to participate in the performance of large and medium-sized stock corporations from industrialised countries, characterised by high-dividend yields and high quality.
The quality of a company is measured using various fundamental data, such as stable profits and cash flows. The ETF minimises the exchange rate risk between the US dollar and the euro.
Name: Fidelity Global Quality Income UCITS ETF-EUR Hedged
Asset class: equity index
ETF ISIN: IE00BYV1YH46
Ongoing charges p.a.: 0.45 percent
Distribution policy: accumulating
Reference index: Fidelity Global Quality Income Index
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Source: Deutsche Börse Cash Market
Euronext acquires 100 percent of Irish Stock Exchange in 'strategic' move
December 1, 2017--Pan-European exchange Euronext has announced its acquisition of 100 percent of the Irish Stock Exchange for €137 million ($162.48 million)
The transaction represents a move by the ISE to deepen ties with mainland Europe and an effort by Euronext to expand its revenue base and its position in debt and fund listings.
ISE Chief Executive Deirdre Somers said that she did not believe that the deal was focused on bridging Brexit uncertainties
Pan-European exchange Euronext has announced its acquisition of 100 percent of the Irish Stock Exchange (ISE) for €137 million ($162.48 million).
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Source: CNBC.com
Etixx Quick-Step team sponsor joins First Crypto ETF To Build Innovative Digital Asset Custody
December 1, 2017--The First Crypto ETF today announced it has entered into an agreement for an investment from janom, a private equity company based in Central Europe, to build a Digital Asset Custody.
Both parties have agreed not to disclose the amount of the investment. The Digital Asset Custody (DAC) will securely store all digital assets including cryptocurrencies managed by the First Crypto ETF fund but will also be sold as a standalone product.
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Source: coinwisdom.org
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