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FCA clamps down on closet trackers
April 12, 2016--The UK financial watchdog, the Financial Conduct Authority (FCA), has clamped down on several 'closet tracker' funds, which closely follow benchmarks despite being marketed as actively managed.
As part of a year-long review into the asset management industry called Meeting Investors' Expectations, the FCA uncovered serious issues with five funds that "used a benchmark-related approach that should have been disclosed (also known as closet trackers)".
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Source: www.investorschronicle.co.uk
db X-trackers bond index ETF on emerging market bonds launched on Xetra
Selection and weighting of emerging markets based on fundamental economic factors
April 12, 2016--The db x-trackers iBoxx USD Emerging Sovereigns Quality Weighted UCITS ETF (DR) enables investors to participate in the performance of US dollar-denominated bonds issued by governments or central banks in emerging markets.
The bonds tracked by the reference index have a minimum rating of "B" and either have a fixed rate of interest or none at all. Variable interest-rate bonds are not included.
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Source: Deutsche Bürse Cash Market
Amundi ETF captures more than 40 per cent of European ETF inflows on Emerging Markets exposures in March 2016
April 11, 2016--Amundi ETF has attracted record inflows on Emerging Markets equities in March 2016, with 560 million EUR net inflows, representing 40 per cent of the total European ETF market flows on Emerging equity exposures in the period.
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Source: etfexpress.com
Deutsche Borse-LSE tie-up hits opposition
April 10, 2016--Mounting concern about the consequences for the merged entity if Britain votes to leave EU
Opposition is growing in Germany to Deutsche Börse's planned $20bn merger with London Stock Exchange, amid mounting concern about the consequences for the merged entity if Britain votes to leave the European Union.
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Source: FT.com
Bitcoin app's U.K. launch opens door to free dollar-to-pound transfers
April 8, 2016--Barclays' backing of Circle is 'major milestone' in London's fintech, says U.K. Treasury.
Barclays PLC has become the first U.K. bank to partner with a cryptocurrency company, teaming up with social-payment app provider Circle, which says it can now offer free dollar-to-pound transfers after its London launch.
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Source: MarketWatch.com
Quarterly review: BlackRock tightens its grip on Europe
April 8, 2016--Squeeze on smaller managers as larger rivals gather most business
BlackRock topped the leaderboard for fund sales in Europe for a third successive year in 2015, with the world's largest investment manager significantly outpacing its rivals in terms of asset growth.
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Source: FT.com
ESMA publishes new Q&A on CFDs and other speculative products
April 8, 2016--The European Securities and Markets Authority (ESMA) has published today a new question and answer document(Q&A) on the application of the Markets in Financial Instruments Directive (MiFID) to the marketing and sale of financial contracts for difference (CFDs) and other speculative products to retail clients (such as binary options and rolling spot forex).
These are complex products and although it may be difficult for the majority of retail investors to understand the risks involved, they are widely advertised to the retail mass market by a number of firms, often via online platforms. There is also a considerable degree of cross-border activity across Europe in these products.
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Source: ESMA
Growth Recovery in South East Europe Underpinned by Investment, Says Latest World Bank Economic Report
April 8, 2016--The countries of South East Europe (SEE6[1]) are projected to have grown at 2.1 percent on average in 2015. This growth is significantly higher than the 0.3 percent growth in 2014, when the region was severely impacted by record-breaking floods.
All six countries in the region are now projected to see real GDP growth, with Kosovo and the Former Yugoslav Republic of Macedonia projected to expand at 3.6 and 3.7 percent, respectively. Serbia, the country most impacted by the 2014 floods, is estimated to have grown by 0.8 percent, which is higher than initially predicted.
view the South East Europe Regular Economic Report
Source: World Bank
STOXX Launches Bond Version of EURO STOXX 50 Index
April 7, 2016--STOXX Ltd., the operator of Deutsche Böerse Group's index business, and a global provider of innovative and tradable index concepts, today introduced the EURO STOXX 50 Corporate Bond Index which is the only of its kind, tracking the corporate debt of the EURO STOXX 50 companies.
As such, the EURO STOXX 50 Corporate Bond Index is the fixed income equivalent of the EURO STOXX 50 including the bonds of the top-flight blue-chip companies in the Eurozone.
ESMA finds room for improvement in national supervision of investment advice to retail clients
April 7, 2016--The European Securities and Markets Authority (ESMA) has today published a peer review on how national regulators assess compliance with MiFID's suitability requirements when firms provide investment advice to retail clients.
These requirements are designed to ensure that firms only recommend suitable investment products, based on the investor's profile.
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Source: ESMA
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