Boost Research-Are equities overvalued?
May 28, 2013--Are equities overvalued?
The components of the equity risk premium are within their historic trading ranges, suggesting that equities are currently not overvalued
Relative to low government and corporate bond yields, equity markets may continue to look undervalued
Investors anticipating the rally in equities to continue may consider buying Boost leveraged equity ETPs
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Source: Boost ETP
ESMA-Questions and Answers-Prospectuses (19th updated version) May 2013
May 27, 2013--The purpose of this document is to promote common supervisory approaches and practices in the application of the PD and its implementing measures.
It does this by providing responses to questions posed by the general public and competent authorities in relation to the practical application of the PD.
The content of this document is aimed at competent authorities under the PD to ensure that in their supervisory activities their actions are converging along the lines of the responses adopted by ESMA. However, these responses are also meant to provide market participants with an indication of what constitutes proper implementation of the PD rules. The answers are intended to help issuers of securi-ties by providing clarity as to the content of the PD requirements without necessarily imposing an ex-tra layer of requirements.
view the Questions and Answers Prospectuses 19th updated version-May 2013
Source: ESMA
Fight for exchange-traded fund market share intensifies
May 27, 2013--Competition to list exchange-traded funds among European exchanges has heightened in recent months after US issuers entered the market and alternative exchange platforms have sought to grow their ETF footprint.
According to several issuers, last week’s news that Bats Chi-X Europe is looking to create a pan-European ETF exchange, directing investors to the most liquid listings, will intensify the fight.
Deutsche Börse, the London Stock Exchange Group, including its Milan-based Borsa Italiana, Six Swiss Exchange and NYSE Euronext are the dominant exchange players in the European ETF market.
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Source: Financial News
UK fund managers under pressure to reveal hidden fees
May 26, 2013--UK fund managers are facing mounting pressure to end a culture of hidden fees and provide investors with a total cost figure.
Organisations including the True and Fair Campaign, a non-profit that has the backing of fund house SCM, and the UK-based Investment Management Association are calling on asset managers to be more open about the total costs consumers face.
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Source: FT.com
Eurozone sees bank union progress by June
May 24, 2013--Key obstacles to a banking union, seen as a keystone in locking down the debt crisis, should be resolved within the next few weeks, the official in charge of the day-to-day operation of the eurozone told AFP in an exclusive interview.
Thomas Wieser, who heads the working group of the 17-nation eurozone led by Dutch Finance Minister Jeroen Dijsselbloem, said the next group meeting in Luxembourg on June 20 should see the remaining problems settled.
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Source: EUbusiness
European Commission will examine ICE-NYSE deal
May 24, 2013--Intercontinental Exchange has avoided having its proposed purchase of NYSE Euronext be examined by national regulators across Europe.
Instead, the European Commission will review the deal. Last year, the commission rejected a merger of NYSE Euronext and Deutsche Boerse, although analysts expect this deal to have a better chance of success.
Source: Smart Brief
ESMA publishes Guidelines on key concepts of the AIFMD
May 24, 2013--ESMA has published its final report on guidelines for key concepts of the AIFMD.
view the Final report-
Guidelines on key concepts of the AIFMD
Source: ESMA
BlackRock reports increase in post-RDR adviser appetite for ETFs
May 24, 2013--BlackRock's exchange traded fund business iShares has reported an increase in advisers using its ETFs on wrap platforms since RDR came into force at the start of the year.
The group saw a 16 per cent increase in assets held on eight major wrap platforms during the open three months of the year, with assets reaching £985m.
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Source: Fundweb.com
Two new UBS ETFs launched on Xetra
ETFs offer first-time access to commodities sectors of the CMCI index series
May 24, 2013--Two new exchange-traded index funds issued by UBS ETFs plc have been tradable in Deutsche Börse's XTF segment since Friday.
ETF name: UBS ETFs plc-CMCI Composite SF (USD) I-acc
Asset class: commodity index ETF
ISIN: IE00B56HZD74
Total expense ratio: 1.12 percent
Distribution policy: non-distributing
Benchmark: CMCI Composite Index
ETF name: UBS ETFs plc-CMCI Composite SF (USD) A-acc
Asset class: commodity index ETF
ISIN: IE00B53H0131
Total expense ratio: 1.29 percent
Distribution policy: non-distributing
Benchmark: CMCI Composite Index
The new UBS ETFs from the index series of the Constant Maturity Commodity Index (CMCI) enable investors to participate for the first time in the performance of 28 commodities contracts in US dollars with up to seven different maturities.
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Source: Börse
NYSE says to spin off, not sell Euronext
May 24, 2013--NYSE Euronext with spin off European stock exchange group Euronext via an initial public offer rather than sell it following its merger with InterContinentalExchange (ICE), a senior executive said on Thursday.
"It will be an IPO," said deputy chief executive Dominique Cerutti on the sidelines of the launch of EnterNext, NYSE Euronext's new exchange for small and medium-sized companies.
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Source: The Economic Times
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