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LSE May 2017 ETF & ETP Monthly Report
May 15, 2017--Listings
14 new ETFs were listed on LSE in April 2017.
There are now 905 ETFs (available as 1,388 lines through multi-currency offerings) and 450 other ETPs (available as 519 lines) on our London market.
LSE were excited to welcome, Fidelity, a first time issuer to our market. Fidelity listed 3 new smart beta ETFs on LSE. These were Fidelity's first ETF listings in Europe and first smart beta listings worldwide.
The Global Quality Income UCITS ETF was launched as a distributing share class and the US Quality Income UCITS ETF was launched as both accumulating and distributing share classes. They provide exposure to companies with attractive dividend yields, within the global and US stock markets respectively.
iShares expanded their current offering through the listing of 9 fixed income ETFs. The new listings include ETFs which track corporate, government and inflation-protected bonds and provide US, Emerging Market and Global exposure.
VanEck launched the VanEck Vectors JPM EM Local Currency Bond UCITS ETF, which tracks the performance of bonds issued in local currency by 16 emerging market governments. Bonds from Brazil, Poland, Indonesia and Mexico have the largest holdings as they have reached their maximum weighting of 10%.
DB X-Trackers launched the DBXT Global Government UCITS ETF, which offers exposure to government bonds of developed countries.
Trading Activity
Orderbook value traded for ETFs and other ETPs in April 2017 was £6.8 billion (193k trades), down by 2% compared to April 2016.
Orderbook value traded for ETFs and other ETPs YTD is £30.5 billion (895k trades), up by 2% compared to 2016.
Total on-exchange value traded for ETFs and other ETPs in April 2017 was £22.5 billion (292k trades), down by 2% compared to April 2016.
Total on-exchange value traded for ETFs and other ETPs YTD was £107 billion (1.3m trades), up by 10% compared to 2016.
Key Developments
LSE was voted "Most Proactive ETF Exchange-Europe" and "Largest Exchange for ETFs-Europe" (by Volume) at the 13th Annual Global ETF Awards® in New York in April 2017.
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Source: London Stock Exchange Group
IMF-Germany: Staff Concluding Statement of the 2017 Article IV Mission
May 15, 2017--Germany's open and innovative economy has been performing well, underpinned by prudent economic management, past structural reforms, and a well-developed social safety net.
Employment growth is strong, the unemployment rate is at a record low, growth is above potential, and the fiscal position keeps strengthening. However, despite high and rising capacity utilization and job vacancy rate, wage growth and core inflation so far remain subdued and business investment lacks momentum, while adverse demographics weigh on long-term growth prospects. The large and persistent current account surplus reflects high domestic savings and better investment opportunities abroad, as well as external factors.
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Source: IMF
New First Trust ETF launched on Xetra
May 15, 2017--Smart beta ETF provides access to US large caps.
The First Trust US Large Cap Core AlphaDEX(R) UCITS ETF has been tradable on Xetra and Börse Frankfurt since Wednesday.
It is based on the NASDAQ AlphaDEX(R) Large Cap Core Index. The aim of the index is to generate positive alpha compared to indices traditionally weighted by market capitalisation.
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Source: Deutsche Börse Cash Market
Exchange Traded Funds-Central Bank Publishes Discussion Paper
May 15, 2017--Exchange traded funds have assets in excess of US$4tn globally
Ireland is the principal domicile for European ETFs
Central Bank Discussion Paper leads an international exchange of views on ETFs
The Central Bank has today published a Discussion Paper on Exchange Traded Funds (ETFs).
Ireland is the largest European centre for Exchanged Traded Funds (ETFs), which are the fastest growing type of investment fund globally. ETFs have experienced exponential growth since they were first established in 1990 with more than US$4tn in assets globally as at the end of April 2017.
view the Discussion Paper 6-Exchange Traded Funds
Source: Central Bank of Ireland
Asset managers struggle with illiquidity trap
May 15, 2017--A wave of Brexit-related fund suspensions led to soul-searching across the industry.
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Source: FT.com
U.K.'s Labour to Impose Stamp Duty on Bonds and Derivatives
May 13, 2017--Financial institutions would lose exemption, pay lower rate
Party estimates the move would more than double revenue
Britain's Labour Party pledged to more than double what the government raises from taxes on financial transactions by extending stamp duty to cover derivatives and bonds, and removing an exemption for trading houses.
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Source: Bloomberg
Lyxor-Monthly European ETF Market Trends-April 2017
May 13, 2017--European ETF market flows slowed down substantially in April 2017.
Net New Assets (NNA) during the month amounted to EUR4.4bn, the
lowest since December 2016.
Total Assets under Management are up 11%
vs. the end of 2016, reaching EUR572bn, including a positive market impact
of 4%. European and Global equities benefited from attractive valuations
compared to the US.
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Source: Lyxor
U.K.'s Labour to Impose Stamp Duty on Bonds and Derivatives
May 13, 2017--Britain's Labour Party pledged to more than double what the government raises from taxes on financial transactions by extending stamp duty to cover derivatives and bonds, and removing an exemption for trading houses.
The "Robin Hood Tax" would raise an extra 4.7 billion pounds ($6.1 billion) a year, while eliminating "the most destabilizing forms" of high-frequency trading, the opposition party said in a statement. Last year, stamp duty on share transactions raised 3.3 billion pounds.
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Source: Bloomberg
Solactive launches USD Investment Grade Corporate Index
May 12, 2017--New benchmark targeting investment grade corporate bonds issued in USD.
Solactive is happy to announce the release of the Solactive USD Investment Grade Corporate Index mirroring the performance of USD-denominated investment grade corporate bonds.
This new addition extends the range of benchmarks offered by the German index engineer, providing investors with a price-competitive alternative to what is currently available in the market.
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Source: solactive.com
EBA publishes final Guidelines on credit institutions credit risk management practices and accounting for expected credit losses
May 12, 2017--The European Banking Authority (EBA) published today its final Guidelines on credit institutions' credit risk management practices and accounting for expected credit losses.
These Guidelines aim at ensuring sound credit risk management practices associated with the implementation and on-going application of the accounting for expected credit losses.
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Source: European Banking Authority (EBA)
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