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European markets watchdog examines closet trackers
November 23, 2014--The European markets watchdog is probing "closet tracking", which critics say is enabling fund managers to charge high active fees while in practice doing little more than hugging an index.
A letter from Steven Maijoor, chairman of the European Securities and Markets Authority, to consumer organisation Better Finance For All, seen by FTfm, said the regulator was "gathering more information to assess the scope of this issue".
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Source: FT.com
Lyxor and db X-trackers Shake Things Up
Two of the largest ETF providers in the industry have begun offering physical ETFs, marking a departure from their roots
November 21, 2014--The largest synthetic ETF providers in Europe, Lyxor and db X-trackers, have announced they are venturing into the physical ETF market.
This comes as the two companies face increasing competitive pressures and net outflows over the past year.
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Source: Morningstar.co.uk
IMF Executive Board Concludes 2014 Article IV Consultation with Turkey
November 21, 2014--On November 21, 2014, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Turkey.1
Turkey's economy has grown on average by 6 percent annually since 2010, but this has come at the expense of a large external deficit making the economy sensitive to changes in external financing conditions. Macroeconomic policies have been too accommodative, inflation is high and well above the authorities’ target, real policy interest rates remain negative, and the exchange rate continues to be stronger than suggested by fundamentals. These imbalances are holding back growth potential and increasing risks. They need to be addressed with carefully sequenced macroeconomic policies and structural reforms aimed at increasing aggregate savings, competitiveness and potential output.
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Source: IMF
DELISTING OF NORDEA BANK AB (publ) 4 ETN´S
November 21, 2014--EXCHANGE NOTICE 21.11.2014 ETN
DELISTING OF NORDEA BANK AB (publ) 4 ETN'S
NASDAQ OMX Helsinki Oy has decided to prematurely terminate trading in Nordea Bank AB (publ) ETN's
on issuer´s request as of 21.11.2014 according to the Rules of the Exchange 6.2.4.1.
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Source: NASDAQ
Eurozone growth at 16-month slow point
November 20, 2014--Growth in the eurozone has slowed to its slowest pace in 16 months as new orders dipped,survey company Markit said Thursday,
raising pressure on policymakers to crank up measures to support the economy.
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Source: EUbusiness
Securities financing transactions: Council agrees transparency rules
November 20, 2014--The Permanent Representatives Committee agreed, on behalf of the Council, its negotiatingstance on a draft regulation aimed at improving the transparency of securities lending and repurchase transactions.
The regulation would enhance financial stability by ensuring that information on so-called securities
financing transactions is efficiently reported to trade repositories and investors in collective
investment undertakings.
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Source: Council of the European Union
WisdomTree Lists Two Emerging Markets UCITS ETFs on London Stock Exchange
November 20, 2014--WisdomTree, an exchange-traded fund ("ETF") and exchange-traded product ("ETP") sponsor, and pioneer of dividend-weighted ETFs, today announced the launch of two UCITS ETFs listed on the London Stock Exchange (LSE).
This brings the total to six ETFs listed on the LSE within the past four weeks.
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Source: Nasdaq.com
'Yes' vote in Swiss referendum not certain to lift gold prices-Deutsche Bank
November 20, 2014--A vote in favour of boosting Switzerland's gold holdings at a Nov. 30 referendum won't necessarily lift bullion prices, Deutsche Bank said in a note, adding there was a "considerable" chance the motion would pass.
The Swiss National Bank could spread out its gold buying, take transactions off market, or use derivatives to cushion gold prices from the impact of a 'yes' vote, Deutsche said.
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Source: Reuters
Turkey keeps interest rates on hold as inflation stays high
November 19, 2014-Inflation among highest in emerging markets
Most economists expected no change in rates
Bank sees inflation falling in 2015
The Turkish central bank kept interest rates on hold on Thursday and said it would keep monetary policy tight until the inflation outlook improves significantly, hinting that no cuts are likely until next year.
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Source: Reuters
Forecasts for the UK economy: November 2014
November 19, 2014--Forecasts for the UK economy is a monthly comparison of independent forecasts.
This edition contains medium term forecasts to 2018.
view the Forecasts for the UK economy: November 2014
Source: HM Treasury
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