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ECB Financial Stability Review shows risks increasing as economic and financial conditions worsen
November 16, 2022--Households and firms face multiple challenges, including weakening economic outlook, higher inflation and tighter financial conditions
Diminished market liquidity raises risk of disorderly asset price adjustments, which could test investment fund resilience
Governments should ensure support to vulnerable sectors is targeted and does not interfere with monetary policy normalisation
Risks to financial stability in the euro area have increased amid soaring energy prices, elevated inflation and low economic growth, the November 2022 Financial Stability Review published today by the European Central Bank (ECB) shows. At the same time, financial conditions have tightened as central banks act to rein in inflation.
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Source: ECB
Official Statistics: Forecasts for the UK economy: November 2022
November 16, 2022--A comparison of independent forecasts for the UK economy in November 2022.
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Source: gov.uk
Russia falls into recession
November 16, 2022--Yet the Russian economy has so far survived Western sanctions better than many economists expected.
Russia has entered a recession, nine months after launching its offensive in Ukraine as Western sanctions weigh on the economy, according to official data published on Wednesday.
Gross domestic product shrank 4% in the third quarter, according to a preliminary estimate by the national statistics agency Rosstat.
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Source: malaysianow.com
New Equity ETF from Amundi on Xetra: broadly diversified exposure to US companies with robust ESG profile
November 16, 2022-A new exchange-traded fund issued by Amundi Asset Management has been tradable on Xetra and via Börse Frankfurt since Wednesday.
The Amundi MSCI USA ESG Leaders Extra UCITS ETF gives investors access to a broadly diversified portfolio of large and mid-cap US companies represented in the MSCI USA main index.
The best-in-class approach selects only companies that have a robust ESG profile relative to their industry and are on a positive trend to improve that profile. Companies whose products have a negative impact on the environment and social structures are excluded.
Investors can trade the ETF flexibly using the same ISIN in the desired currency, euro, or US dollar. The trading currency can be selected in each case by means of an individually assigned exchange code.
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Source: Xetra
Regulators will struggle to supervise crypto groups, warns ECB
November 14, 2022--The European Central Bank's head of financial supervision has warned that regulators will struggle to oversee cryptocurrency asset providers, which "never think about financial risks", do not respect national borders and pose "a huge consumer protection issue".
Andrea Enria, chairman of the ECB's supervisory board, told the Financial Times: "I am concerned for my colleagues that will have to perform this supervision in the future because these are animals with whom it is difficult to engage."
Global regulators have been scrambling to respond to the collapse of crypto exchange FTX, which filed for bankruptcy in the US on Friday after failing to fill an $US8 billion ($11.98 billion) funding shortfall and leaving customers around the world facing heavy losses.
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Source: afr.com
New equity ETF from HSBC on Xetra: access to sustainable companies from emerging markets
November 11, 2022-- A new exchange-traded fund issued by HSBC Asset Management has been tradable on Xetra and via the Frankfurt Stock Exchange trading venue since Friday.
The HSBC MSCI Emerging Markets Small Cap ESG UCITS ETF focuses on small-cap companies domiciled in emerging markets.
The investment strategy focuses on increasing the weighting of companies that not only have a good ESG profile, but also have a proven track record of improving it.
The ETF excludes companies that are involved in serious ESG controversies or doing business in arms and nuclear weapons, adult entertainment, alcohol, gambling, nuclear power, energy from thermal coal, fossil fuels and tobacco.
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Source: Xetra
ETF growth in Europe attracts new white-label providers
November 9, 2022--Axxion and Waystone among new competitors to HANetf in Europe
Axxion and asset management servicing group Waystone have both launched ETF businesses recently, while exchange traded product specialist Leverage Shares and cryptocurrency-focused asset manager Iconic Funds have also entered the white-label space.
Jose Garcia Zarate, Morningstar's associate director for passive research, said the arrival of more white-label providers was a sign of the growing popularity of the ETF wrapper among investors.
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Source: ft.com
New equity ETF from First Trust on Xetra: access to high-dividend US companies
November 8, 2022--A new exchange-traded fund issued by First Trust has been tradable on Xetra and via Börse Frankfurt since Tuesday.
The First Trust US Equity Income UCITS ETF gives investors access to the performance of US companies that are part of the Nasdaq US High Equity Income Index.
The companies are selected on the basis of factors such as liquidity, dividend yield and other quality criteria. Currently, the index comprises 120 securities that are mainly active in the financial sector. Other sectors include IT, consumer goods, energy and basic materials.
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Source: Xetra
New crypto ETN from Hashdex on Xetra: Access to a basket of crypto stocks considering risk parity and momentum
November 8, 2022--Since Tuesday, a new crypto ETN issued by Hashdex is tradable on Xetra and via Börse Frankfurt.
The Hashdex Crypto Momentum Factor ETP offers investors access to the performance of a basket of the twelve largest cryptocurrencies according to current market capitalisation.
Currently, these are the cryptocurrencies Avalanche, Binance Coin, Bitcoin, Carda-no, Cosmos, Ethereum, Polkadot, Polygon, Ripple, Solana, Tron and Uniswap.
The weighting considers both risk parity and momentum score, with the aim of reducing the overall volatility of the crypto basket.
The product is physically collateralised by the digital assets and is centrally cleared via Eurex Clearing.
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Source: Xetra
Hargreaves Lansdown stops offering non-sterling ETF share classes
November 4, 2022--Foreign currency share classes of funds with no sterling equivalent are unaffected
Hargreaves Lansdown has stopped offering the non-sterling share classes of exchange traded products including exchange traded funds. The change has affected around 170 products which are not denominated in sterling.
For example, prior to October 28, when the change took effect, it was offering the US share class of VanEck Vectors Video Gaming and eSports Ucits ETF (ESPO) as well as the sterling share class. But after that date investors have only been able to buy the sterling share class -VanEck Vectors Video Gaming and eSports Ucits ETF (ESGB).
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Source: ft.com
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