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Lyxor and Amundi predict big passive push
November 30, 2014--Record-breaking inflows this year into Europe's exchange traded funds industry have encouraged both Lyxor and Amundi to make bold predictions about future asset growth for their passive investment arms.
Both managers share a belief that they can double the size of their ETF operations with the help of growing investor interest in "smart beta"- cheap, rules-based investment strategies that aim to outperform conventional market-cap indices
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Source: FT.com
European Commission-Fact Sheet-The EU's economic governance explained
November 28, 2014--The lessons learned from the recent economic, financial and sovereign debt crises have led to important reforms of the EU's economic governance rules.
Surveillance systems have been strengthened for budgetary and economic policies and a new budgetary timeline for the euro area has been introduced.
The rules (introduced through the so-called "Six Pack", the "Two Pack" laws and the Treaty on Stability, Coordination and Governance) are grounded in the European Semester, the EU's economic policy coordination calendar.
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Source: European Commission
Deutsche Boerse Will Return to Currencies After 16 Years
November 28, 2014--Deutsche Boerse AG will re-enter currency trading 16 years after the birth of the euro prompted it to withdraw from the market.
Europe's largest publicly traded exchange operator bought a minority stake in R5FX Ltd. for an undisclosed sum, according to a statement today.
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Source: Bloomberg
ESMA submits advice on delegated acts required by the UCITS V Directive
November 28, 2014--On 3 July 2014 ESMA received a provisional request from the European Commission for technical advice on the content of two of the delegated acts on depositaries required by UCITS V.
ESMA published a consultation paper on 26 September setting out the draft technical advice on those delegated acts. That consultation closed on 24 October. This report sets out ESMA's final advice to the Commission in light of the feedback from stakeholders.
Advice on the insolvency protection of UCITS assets when delegating safekeeping
UCITS V provides that, when the custody functions are delegated by the depositary to a third party, such a third party shall take "all necessary steps to ensure that in the event of insolvency of the third party, assets of a UCITS held by the third party in custody are unavailable for distribution among or realisation for the benefit of creditors of the third party".
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Source: ESMA
Unscheduled free float adjustment in MDAX
November 28, 2014--Deutsche Börse AG has announced an unscheduled adjustment to the free float of Rhön-Klinikum AG in MDAX.
Due to a share repurchase programme, the company's free float changed by more than 10 percentage points. The buyback with a volume of around €1.7 billion was organised using tender rights which could be traded via the stock exchange.
According to the rules in the Guide to the Equity Indices of Deutsche Börse the company's free float will be decreased from the current 67.4 percent to 55.4 percent. The adjustment will become effective on Wednesday, 3 December 2014.
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Source: Deutsche Börse
New PIMCO Source active ETF launched on Xetra
Actively managed bond ETF tradable on corporate bonds
November 28, 2014--A new active ETF issued by PIMCO Fixed Income Source ETFS plc has been tradable in the XTF segment on Xetra since Friday.
Name: PIMCO Low Duration Euro Corporate Bond Source UCITS ETF
Asset class: active bond index ETF
ISIN: IE00BP9F2J32
Total expense ratio: 0.39 percent
Distribution policy: distributing
The PIMCO Low Duration Euro Corporate Bond Source UCITS ETF enables investors to participate in the performance of corporate bonds issued in euro via an actively managed ETF.
The PIMCO Low Duration Euro Corporate Bond Source UCITS ETF enables investors to participate in the performance of corporate bonds issued in euro via an actively managed ETF.
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Source: Xetra
EU Annual Growth Survey 2015: A new Momentum for Jobs, Growth and Investment
November 28, 2014--The 2015 Annual Growth Survey (AGS) published by the European Commission today focuses on putting Europe firmly back on a path of sustainable job creation and economic growth. The arrival of the new Commission, with an ambitious agenda for Jobs, Growth, Fairness and Democratic Change, is the right moment to generate a new momentum.
By proposing an ambitious Investment Plan to mobilise at least € 315 billion of additional public and private investment over the next three years, Europe is turning a page (Investment Plan press material). This is part of the European Commission's overall approach to support job creation and get Europe growing.
view the European Commission Annual Growth Survey 2015
Source: European Commission
Deutsche Borse AG publishes results for Q3/2014
Net revenue in Q3 increased to €496 million / Operating costs of €266 million excluding exceptional items / Adjusted earnings per share (EPS) of €0.85 / Net revenue and EPS in the first nine months up slightly on the previous year / Clearstream passes ECB stress test
October 27, 2014--Deutsche Bouml;rse AG published its figures for the third quarter of 2014 on Monday. The Group generated net revenue of €495.9 million, an increase of 8 per cent on the prior-year period (Q3/2013: €457.9 million).
Operating costs adjusted for exceptional items increased as expected and amounted to €266.0 million (Q3/2013: €236.1 million).
The increase is attributable to consolidation effects and higher investments in growth initiatives and infrastructure. Adjusted earnings before interest and tax (EBIT) rose by 4 per cent, to €233.5 million (Q3/2013: €224.0 million). As a result, the Group recorded adjusted basic earnings per share of €0.85 (Q3/2013: €0.83).
In the first nine months of 2014, the Group generated net revenue of €1,498.5 million, a year-on-year increase of 4 per cent (Q1-3/2013: €1,439.3 million). The Group's adjusted operating costs amounted to €758.7 million (Q1-3/2013: €699.7 million). Adjusted EBIT amounted to €745.7 million (Q1-3/2013: €747.8 million) and adjusted earnings per share increased slightly to €2.75 (Q1-3/2013: €2.72).
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Source: Deutsche Bouml;rse
WisdomTree Europe Hires Head of Sales
ETF Industry Veteran Nick Shellard Adds Depth of Institutional Sales Knowledge and Relationships
November 27, 2014--WisdomTree, an exchange-traded fund ("ETF") and exchange-traded product ("ETP") sponsor, and pioneer of dividend-weighted ETFs, announces the hire of Nick Shellard as Head of Sales at WisdomTree Europe.
Nick has over 20 years of ETF and investment banking experience and has held senior roles including Head of ETF & Delta One Sales at Citigroup, EMEA Head of ETF & ETC Sales at Deutsche Bank AG and ETF Country Head of UK & Switzerland at BGI iShares (now known as Blackrock).
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Source: Boost
Amundi launches Nikkei 400 ETF
November 26, 2014--Amundi has bolstered its Japanese equities ETF range with its cheapest exchange-traded fund yet.
The Amundi JPX-Nikkei 400 UCITS ETF became active on 18 November, and carries a TER of 0.18%, which Amundi says is the lowest in the market for this exposure.
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Source: internationaladviser.com
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