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Lipper-Monday Morning Memo: Is the Route Set for New Records in the European Fund Industry?
October 30, 2017--Review of the European Fund Industry, Year to Date (Q3-2017)
Looking at the headline figures, the first nine months of 2017 set the stage for a new record year in the European fund industry. The assets under management in Europe stood at €10.2 tr at the end of September, close to the record level set earlier in the year. In addition, the European fund industry enjoyed record net inflows of €614.2 bn over the course of the first nine months of 2017.
Assets Under Management in the European Fund Industry
The assets under management in the European fund industry increased from €9.4 tr to €10.2 tr over the course of the first nine months of 2017. This increase was driven mainly by net inflows (+€614.2 bn), while market performance contributed €255.0 bn.
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Source: Detlef Glow, Head of EMEA Research-Thomson Reuters Lipper
Clearstream to launch Bond Connect service
October 30, 2017--The international central securities depository (ICSD) Clearstream is about to launch its service to support the cross-border bond trading and settlement scheme "Bond Connect", linking the China Interbank Bond Market (CIBM) with the world.
Starting from 20 November 2017, Clearstream customers will be able to access Chinese bonds traded in CIBM via Hong Kong. The new service replicates Clearstream's Stock Connect offering for China A-shares where global bank Citi acts as Clearstream's local sub-custodian. Today, Clearstream customers already benefit from direct access to the China onshore bond market via Clearstream's China Bond Link. The new link complements this direct access link, which was launched last autumn. Bond Connect is a new mutual access scheme that allows institutional investors from Mainland China and overseas to trade in each other's bond markets through a connection between related Mainland and Hong Kong financial infrastructure institutions.
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Source: Deutsche Börse Cash Market
S&P Dow Jones Indices Debuts Carbon Metrics on Indices
October 30, 2017--The Metrics Provide a New Level of Carbon Data Transparency
S&P Dow Jones Indices (S&PDJI), a leading index provider, is now publishing carbon metrics on the majority of its equity indices, including the S&P Global 1200, S&P 500(R), Dow Jones Industrial Average(R) and environmentally-focused indices including S&P Global 1200 Carbon Efficient Index Family and S&P Global 1200 Fossil Fuel Free Index Family.
S&P DJI is the first index provider to publically display carbon metrics as standard alongside financial data on its indices on a monthly basis.
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Source: S&P Dow Jones Indices
Happy birthday Solactive! The German index engineer turns ten
October 27, 2017--Happy birthday Solactive!
The German index engineer turns ten
This month, Solactive AG celebrates its ten-year anniversary.
Solactive was founded in 2007 with the goal of proposing a model focused on efficiency and flexibility, and thus
improve customers' indexing experience. This unique business model has allowed the
company to distinguish itself from competitors and gain market share in an industry that
has traditionally been dominated by a few established players.
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Source: Solactive AG
Listed issuers must focus on new IFRS standards in 2017 annual financial reports
October 27, 2017--The European Securities and Markets Authority (ESMA) today published the priorities to be considered by listed companies, and their auditors, when preparing and auditing their 2017 financial statements.
These priorities are set out in the annual Public Statement on European Common Enforcement Priorities (Statement), through which ESMA promotes the consistent application of the International Financial Reporting Standards (IFRS).
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Source: ESMA
Deutsche Borse welcomes Vanguard as new ETF issuer
October 26, 2017--ull European Vanguard product range tradable on Xetra for the first time http://en.boerse-frankfurt.de/etp/Vanguard-Global-Minimum-Volatility-UCITS-ETF-IE00BYYR0C64
Exchange traded funds (ETFs) issued by Vanguard have been tradable for the first time on Xetra and Börse Frankfurt since Thursday. The 23 new ETFs provide investors with access to an extensive product range of equity, fixed income and strategy ETFs.
"We are delighted to be able to welcome Vanguard, one of the largest issuers of ETFs worldwide, on Xetra. Today's listing of 23 Vanguard ETFs represents a significant expansion of our product range in the ETF segment and underscores the attractiveness of Deutsche Börse as a leading listing and trading platform in the European ETF market," said Michael Krogmann, Managing Director of the Frankfurt Stock Exchange.
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Source: Deutsche Börse Cash Market
The ECB announced 'a sea change but a very gentle one'
October 26, 2017--European Central Bank cuts bond-buying programme to €30 billion per month, down from €60 billion previously.
The move had been widely expected in the markets.
Bond-buying will continue until at least September 2018, but will likely go on for longer.
Bond-buying will continue until at least September 2018, but will likely go on for longer.
President Mario Draghi says that the ECB could increase quantity of bonds it buys if the eurozone economic outlook becomes less favourable.
The European Central Bank on Thursday announced that it will further taper its bond-buying programme but extended quantitative easing until at least September 2018, as had been widely forecast prior to the decision.
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Source: Business Insider
Carsten Kengeter to step down as CEO of Deutsche Borse as of 31 December 2017
October 26, 2017--Carsten Kengeter today informed the Supervisory Board of Deutsche Börse AG (DBAG) that he would like to step down as Chief Executive Officer of DBAG effective 31 December 2017 in order to allow the company to focus on business, clients and growth, and to avoid further burdens caused by the ongoing investigation.
Carsten Kengeter said: "This decision was not easy for me since I feel very closely connected to Deutsche Börse and I still have many plans for the company. In the light of the public accusations and allegations, I am taking this step to protect Deutsche Börse in particular. I will thoroughly cooperate with the authorities until the end of the investigation. With this decision, I am paving the way for a new beginning for Deutsche Börse. Until the end of the year, I will contribute to an orderly transition. I would like to thank the Supervisory Board and the employees for the trust they have expressed in me."
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Source: Deutsche Börse Group
HSBC Worldwide Equity UCITS ETF Changes Investment Strategy
October 25, 2017--October 25, 2017--In a prospectus update HSBC ETFs,PLC filed a change to the HSBC Worldwide Equity UCITS ETF. The HSBC Worldwide Equity UCITS ETF will change investment strategy today converting into an active ETF.
The sub-fund investment strategy will move from a market capitalisation index to an active systematic multi factor equity strategy. The investment universe of the fund will remain consistent and continue investing in Developed and Emerging markets. The investment strategy will use a proprietary multi factor investment model which considers factors such as Value, Quality, Momentum, Low Risk and Size. The ETF will be renamed HSBC Multi Factor Worldwide Equity UCITS ETF.
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Source: sharesmagazine.co.uk
Value Partners launches GEM fund in Europe
October 25, 2017--Hong Kong's Value Partners has launched a global emerging market equity fund that will be distributed across Europe and the UK.
The GEM equity fund, a Dublin-domiciled Ucits fund, is an actively managed, value-oriented product that combines both quantitative and fundamental processes. It aims to achieve a consistent return of 5% on average over five years, according to a statement from the firm.
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Source: fundselectorasia.com
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