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UK funds geared up for fees price war
Focus for managers will move to asset growth and efficiency
January 27, 2014--Asset management is one of the most profitable businesses going, despite its ups and downs since the financial crisis.
McKinsey's 2013 report on the industry noted that the average return on equity of 16.5 per cent for asset managers in 2012 dwarfed the returns of banks (9 per cent) and insurers (6.1 per cent). Profit margins are typically in the high 20s (percentage points) and for the most profitable exceed 40 per cent.
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Source: FT.com
SIX Swiss Exchange-State Street Global Advisors to launch 9 new SPDR ETFs on diverse share and bond indices
January 27, 2014--State Street will launch nine ETFS on January 28, 2014 on the Six Swiss Exchange.
First Trading Day: 28.01.2014
Product Name: SPDR Barclays 0-3 Year Euro Corporate Bond UCITS ETF
Underlying: Barclays 0-3 Year Euro Corporate Bond Index
Mgmt Fee p.a. 0.20%
First Trading Day: 28.01.2014
Product Name: SPDR Barclays 0-3 Year US Corporate Bond UCITS ETF
Underlying: Barclays 0-3 Year US Corporate Bond Index
Mgmt Fee p.a. 0.20%
First Trading Day: 28.01.2014
Product Name: SPDR Barclays 0-5 Year US High Yield Bond UCITS ETF
Underlying: Barclays US High Yield 0-5 Year (ex 144a) Index
Mgmt Fee p.a. 0.40%
First Trading Day: 28.01.2014
Product Name: SPDR Barclays 1-3 Year U.S. Treasury Bond UCITS ETF
Underlying: Barclays 1-3 Year US Treasury Bond Index Commerzbank AG
Mgmt Fee p.a. 0.15%
First Trading Day: 28.01.2014
Product Name: SPDR MSCI EM Beyond BRIC UCITS ETF
Underlying: MSCI EM Beyond BRIC Index Commerzbank AG
Mgmt Fee p.a. 0.65%
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Source: SIX Swiss Exchange
New db x-trackers equity index ETF launched on Xetra
ETF tracks German mid caps
January 27, 2014--A new db x-from the ETF section of Deutsche Asset & Wealth Management has been tradable in the XTF segment on Xetra since Monday.
ETF name: db x-trackers Mittelstand & MidCap Germany UCITS ETF (DR)
Asset class: equity index ETF
ISIN: IE00B9MRJJ36
Total expense ratio: 0.40 percent
Distribution policy: distributing
Benchmark: Solactive Mittelstand & MidCap Deutschland TRN Index
The db x-trackers Mittelstand & MidCap Germany UCITS ETF (DR) enables investors to participate in the performance of German Mittelstand companies.
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Source: Xetra
Euro area economic and financial developments by institutional sector
January 27, 2014--Household financing and financial investment were broadly unchanged from the previous
quarter (at annual growth rates of 0.8% and 1.8% respectively).
Non-financial corporations' net entrepreneurial income (broadly equivalent to current profits) increased at a higher annual rate (2.3% after -1.1%), while their gross fixed capital formation continued to decrease at broadly unchanged rates (-2.1% after-2.2%).
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Source: ECB
FSA-Temporary restriction in short selling
January 27, 2014--The Financial Conduct Authority (FCA) notifies that it temporarily restricts short selling in the following instrument under Article 23 (1) and 26(4) of Regulation (EU) No 236/2012 of the European Parliament and of the Council of 14 March 2012 on short selling and certain aspects of credit default swaps.
This follows a decision made by another EU Competent Authority.
view the FSA
Temporary Short Selling Restriction
Source: FSA.org.uk
Prime Minister Cameron Says Europe Needs to Seize "Re-Shoring" Opportunities
Making a success of globalization is a key challenge for European politicians and business leaders
Jobs previously offshored are slowing coming back, "re-shoring", from East to West
Europe needs cheap and predictable sources of energy, including shale gas, to seize the opportunities presented by re-shoring
The theme of the 44th World Economic Forum Annual Meeting is, The Reshaping of the World: Consequences for Society, Politics and Business
January 24, 2014-- Prime Minister of the United Kingdom David Cameron told participants at the World Economic Forum's Annual Meeting that the key challenge for politicians and business leaders in Europe is how to make a success of globalization.
An emerging trend to accomplish this is "re-shoring" jobs, he said. "There is a chance for Britain to become the re-shore nation. Europe needs to act now to seize the opportunities of re-shoring." He said that a major driver of this trend will be the development of shale gas.
For years, the West has been "written off" and rumours abound that it is facing inevitable decline. "It is the same dystopian vision. The East wins while the West loses; the workers lose while the machines win," Cameron said. "I don’t believe it has to be this way."
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Source: WEF
SIX Group to build pan-European clearing house
January 24, 2014--SIX Group, owner of the Swiss stock exchange, plans to build a pan-European clearing house for equity derivatives this year in search of diversification from the fiercely competitive cash equities market.
The group intends to build on the clearing business it agreed to buy from Oslo Børs a year ago for NKr180m ($32m), but has been unable to take ownership.
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Source: FT.com
SIX Swiss Exchange to list Raiffeisen Gold ETF
January 24, 2014--Raiffeisen is to list the Raiffeisen ETF-Solid Gold Ounces A-Klasse USD on January 27, 2014.
First Trading Day: 27.01.2014
Product Name: Raiffeisen ETF - Solid Gold Ounces A-Klasse USD
Valor:22'161'641
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Source: SIX Swiss Exchange
EU court rejects British suit against short-selling ban
January 23, 2014--The European Court of Justice on Wednesday rejected a British suit that the EU securities authority does not have the right to ban short-selling,, a practice widely blamed for stoking financial market volatility.
The ruling followed a May 2012 action brought by Britain claiming the European Securities and Markets Authority (ESMA) had been given excessive powers to regulate or ban short selling in case of stress on the markets.
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Source: EUbusiness
Eurozone activity hits 31-month high as recovery speeds up
January 23, 2014-- Activity in the eurozone private sector economy rose to a 31-month high in January as economic recovery gathered pace across the region, a key indicator showed on Thursday.
Markit Economics said its Eurozone Composite Purchasing Managers Index (PMI) for January rose to 53.2 points against 52.1 in December, the seventh monthly rise running and the fastest rate of growth since June 2011.
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Source: EUbusiness
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