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ECB to simplify European bad loan definition in health check
January 14, 2014--The ECB is set to allow the euro zone's top banks to meet less stringent definitions for bad loans than previously planned when it makes an unprecedented review of lenders' balance sheets this year.
The 128 lenders under scrutiny by the European Central Bank were allowed to apply the softer "simplified definitions" for bad loans in their first data submissions for the asset quality review (AQR).
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Source: Reuters
UK Fund Reporting Status for Boost ETPs is Granted
January 14, 2014--Boost, the award winning and independent exchange traded product (ETP) provider,, announced that HM Revenue & Customs has approved all current Boost ETPs as "UK Reporting Funds" under the provisions of The Offshore Funds (Tax) Regulations 2009 (the "Regulations").
This means that a sale of Boost ETPs by UK taxable investors will be regarded as a disposal subject to UK capital gains tax (CGT). CGT will only be charged to the extent that the gains arising to an investor in any particular tax year exceed the relevant annual exemption threshold. Boost advises all investors to consult their own tax advisor to ascertain the implications (if any) of this information.
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Source: Boost
Euro area securities issues statistics: November 13, 2013
January 13, 2014--The annual rate of change of the outstanding amount of debt securities issued by euro area
residents was -0.6% in November 2013, compared with -0.9% in October. For the outstanding
amount of quoted shares issued by euro area residents, the annual growth rate was 1.3% in
November 2013, compared with 1.1% in October.
New issuance of debt securities by euro area residents totalled EUR 668 billion in November 2013.
Redemptions stood at EUR 589 billion and net issues amounted to EUR 88 billion.1 The annual
rate of change of outstanding debt securities issued by euro area residents was -0.6% in
November 2013, compared with -0.9% in October
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Source: ECB
New PIMCO active ETF launched on Xetra
First actively managed bond ETF on the global market for covered bonds for the first time
January 13, 2014--A new active ETF issued by PIMCO Fixed Income Source has been tradable in the XTF segment on Xetra since Monday.
ETF name: PIMCO Covered Bond Source UCITS ETF
Asset class: active bond index ETF
ISIN: IE00BF8HV717
Total expense ratio: 0.38 percent
Distribution policy: non-distributing
Benchmark: Barclays Euro Aggregate Covered 3% Cap Index
The PIMCO Covered Bond Source UCITS ETF enables investors to participate in the performance of globally issued covered bonds via an actively managed ETF. Covered bonds are characterised by hedges against issuer default risk via additional investments, with the investor entitled to the securing assets in the case of default.
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Source: Source: Deutsche Börse
Clearstream enables direct investor access to ETFs through Vestima
PIMCO Covered Bond Source UCITS ETF is the first actively managed ETF available with daily fixing at 'net asset value' (NAV) on Vestima/Efficiency gains: Investors now able to buy and sell shares in this ETF the same way as mutual funds/ETF also traded on Deutsche Börse as of 13 January 2014/Further milestone in Clearstream's efficiency agenda for ETF issuance and processing
January 13, 2014--Clearstream-a Deutsche BÖrse Group company- offers investors for the first time direct access to an actively managed PIMCO Source exchange-traded fund (ETF) through Vestima,
the largest global fund processing platform
The PIMCO Covered Bond Source UCITS ETF is listed on Deutsche Börse as of 13 January 2014 and is the first ETF directly available on Vestima at end-of-day net asset value (NAV), thus providing additional access to this fund. Investors are now able to directly buy and sell shares in this ETF through Vestima in the same way as for a mutual fund, thereby benefiting from Vestima’s proven efficiencies.
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Source: Clearstream
Interest in exchange-traded gold products remains high
Interest in exchange-traded gold products remains high
January 13, 2014--Xetra-Gold from Deutsche BÖrse Commodities GmbH remains by far the most traded ETC on Xetra, as in previous years. Trading volume was around €1.7 billion in 2013. Xetra-Gold (DE000A0S9GB0) alone thus accounted for a good 28% of all ETC trading. db Physical Gold Euro Hedged ETC (DE000A1EK0G3) took second place and db Physical Gold ETC (EUR) (DE000A1E0HR8) took third.
This means that the three top ETCs in 2013 were all gold products -just like in the previous year.
"Although the gold price fell sharply in 2013, exchange traded gold products continued to experience strong demand. Many investors probably used the low prices to enter the market. Amongst all the gold ETCs Xetra-Gold excelled with the highest trading revenues. Investors value this simple, flexible and safe way of participating in the performance of the gold price," said Martina Gruber, managing director at Deutsche BÖrse Commodities GmbH.
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Source: Deutsche BÖrse
Pimco Offers First Actively-Managed Covered Bond ETF With Source
January 13, 2014--Pacific Investment Management Co. has joined with London-based exchange-traded products provider Source UK Services Ltd. to offer the first actively-managed ETF focused on covered bonds.
Kristion Mierau, head of Pimco's European covered bond portfolio management team, runs the Pimco Covered Bond Source UCITS ETF, according to a statement on Source's website. The fund is traded on Deutsche Boerse and has a first year annual management fee of 0.38 percent to be paid monthly.
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Source: BusinessWeek
Amendments to Basel III's leverage ratio issued by the Basel Committee
January 12, 2014--The Basel Committee has today issued the full text of Basel III's leverage ratio framework and disclosure requirements following endorsement on 12 January 2014 by its governing body, the Group of Central Bank Governors and Heads of Supervision (GHOS).
A consultative version of the leverage ratio framework and disclosure requirements was published in June 2013. After carefully considering comments received and thoroughly analysing bank data to assess potential impact, the Committee adopted a package of amendments, which pertains to the leverage ratio's exposure measure. These technical modifications to the June 2013 proposals relate to:
view the Basel III's leverage ratio framework and disclosure requirements
Source: BIS
Outflows blight BNP Paribas' fund business
January 12, 2014--French fund giant BNP Paribas has suffered four dismal years of outflows and is banking
on a structural overhaul to restore investor appetite..
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Source: FT.com
iSTOXX(R) Efficient Capital(R) Managed Futures 20 Index December 2013 -Monthly Report & Commentary
January 9, 2014--The iSTOXX(R) Efficient Capital(R) Managed Futures 20 Index December 2013-Monthly Report & Commentary.
view the report
Source: Stoxx
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