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EU27 Foreign Direct Investment-Over 60% of investments from the rest of the world into the EU27 came from the USA in 2012
June 13, 2013--Foreign Direct Investment1 (FDI) from the EU272 to the rest of the world reached 171 billion euro in 2012, while investment from the rest of the world into the EU27 was 159 bn in 2012.
Investment from the euro area (EA17)2 to the rest of the world amounted to 238 bn while investment from the rest of the world into the euro area was 193 bn.
In 2012, the main destinations of EU27 investments were the Offshore financial centres3 (18 bn euro), Canada and India (both 16 bn), the USA (15 bn), China and Hong Kong (both 10 bn) and Russia (9 bn). Disinvestments were recorded with Switzerland (-3 bn) and Japan (-2 bn).
The main investor into the EU27 was by far the USA (99 bn), followed by Canada (19 bn), Japan (8 bn), Russia and Hong Kong (both 7 bn). Disinvestments were registered with Switzerland (-6 bn), India (-3 bn) and Brazil (-1 bn).
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Source: Eurostat
Stop talking and act on financial services reform, MEPs tell member states
June 12, 2013--MEPs on Wednesday took aim at member states and, to a lesser degree, the Commission, for holding up financial services reforms.
A number of MEPs said EU countries were unable to translate their words into deeds and many stressed that the lack of progress was undermining confidence in the EU.
A resolution clearly identifying the legislation which is blocked in Council or delayed by the Commission will be voted on Thursday.
Opening the debate, Sharon Bowles (ALDE, UK), chair of the economic and monetary affairs committee, accused the Council of "eating up all the time" available until the European elections by always trying to reach consensus among member states..
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Source: European Parliament
Lyxor Asset Management presents its new governance
June 12, 2013--Lyxor Asset Management's ("Lyxor") Supervisory Board announces the appointment of Inès de
Dinechin as Chairman of the Managing Board effective 10 June 2013.
This appointment follows current Chairman Alain Dubois's decision to leave Lyxor in the near future, in
order to pursue another professional challenge abroad.
Other than this appointment, Lyxor's governance and its operational model are not expected to change. In particular, all Lyxor funds’ investment decisions and processes will remain the responsibility of the CIOs, Nicolas Gaussel and Lionel Erdely, whom are still reporting directly to Inès de Dinechin.
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Source: Lyxor
Euro area securities issues statistics
June 12, 2013--The annual rate of change of the outstanding amount of debt securities issued by euro area residents was -0.3% in April 2013, compared with -0.2% in March.
For the outstanding amount of quoted shares issued by euro area residents, the annual growth rate was 0.3% in April 2013, compared with 0.5% in March.
New issuance of debt securities by euro area residents totalled EUR 835 billion in April 2013.
Redemptions stood at EUR 880 billion and net redemptions amounted to EUR 23 billion.1 The annual rate of change of outstanding debt securities issued by euro area residents was -0.3% in April 2013, compared with -0.2% in March.
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Source: ECB
Nasdaq OMX Introduces New Indexes For Icelandic Bond Market
June 11, 2013--NASDAQ OMX (NASDAQ:NDAQ) today introduces six new indexes in the Icelandic bond market. The indexes are based on Icelandic nominal and inflation-linked benchmark bonds that are listed and traded on NASDAQ OMX Iceland.
The new indexes will provide insight and transparency into the price development of benchmark bonds which are the most liquid Icelandic government guaranteed bonds.
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Source: NASDAQ OMX
ESMA clarifies pay rules applicable to investment firms
June 11, 2013--The European Securities and Markets Authority (ESMA) has published Guidelines on remuneration policies and practices which apply to relevant staff of investment firms, credit institutions and fund management companies when providing investment services, and to national securities regulators enforcing those rules.
The Guidelines strengthen investor protection by improving the implementation of the conflicts of interest and conduct of business provisions set out in the Markets in Financial Instruments Directive (MiFID) in the area of remuneration. Improving remuneration arrangements will help to create the right incentives and to prevent mis-selling.
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Source: ESMA
Lyxor Asset Management further strengthens its international development with the appointment of Gilbert Tse as Head of Lyxor for Asia
June 11, 2013--Lyxor Asset Management ("Lyxor") announces the appointment Gilbert Tse as Head of Lyxor for Asia.
Based in Hong Kong, Gilbert has a reporting line to Pierre Gil, Lyxor’s Head of International Development. In this newly created role, Gilbert Tse will be responsible for coordinating Lyxor businesses in the whole of Asia, especially Hong Kong, Singapore, Japan and Korea, and for strengthening global co-operation with Fortune SG Fund Management Co., Ltd., Lyxor's Chinese joint venture.
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Source: Lyxor
LSE cheers gains in European ETF trading
June 11, 2013--The London Stock Exchange has enjoyed the highest share of ETF trading turnover in Europe so far this year, according to Deutsche Bank figures, as the exchange benefits from new and existing providers using it as a European hub to launch and grow.
According to a monthly report from the German bank, published yesterday, the LSE has an average market share of reported trading turnover of 26.5% for the year-to-date. This compares with a market share of 14.1%, 15.7% and 22% at the close of 2010, 2011 and 2012 respectively. The 2013 figures cover the period until May 31.
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Source: Financial News
DB-Synthetic Equity & Index Strategy-
June 10, 2013-Global Summary
Global ETP industry assets increased by 9.2% YTD and closed the month above $2 trillion while the European ETP industry ended the month at €290.7bn. The month of May was marked by cash inflows into equity (+$22.9bn) and fixed income ETFs (+$5bn), and cash outflows from commodity ETPs (-$6.4bn), notably gold products.
Regional cash flow summary
Equities and fixed income outshine commodities in Europe
In contrast to the previous month when cash flows went into negative territory, European domiciled ETFs received positive cash flows of close to +€700mn during the month of May. Previously, European domiciled ETFs had recorded cash flows of +€4.5bn, +€1.7bn, +€0.2bn and -€0.3bn in the months of Jan’13, Feb’13, Mar’13 and Apr’13 respectively.
Equity ETFs had the largest share contributing +€1bn towards the monthly cash flows. ETFs benchmarked to fixed income indices also added +€0.6bn to the total cash flows. Commodity ETPs witnessed record monthly outflows totalling -€1.9bn primarily driven by outflows from gold ETPs (-€1.9bn) over May.
Among equity segments, developed market (DM) benchmarked ETFs brought in +€1.2bn of cash flows while emerging (EM) benchmarked equity ETFs recorded continuing monthly outflows of -€825mn during May. Style and sector ETFs also contributed towards equity ETFs’ positive run and received cash inflows of +€345mn and +€251mn respectively.
Equity continues to dominate cash flows in the US; fixed income inflows continue, while commodities witness further outflows
US ETFs experienced inflows of +$22bn during May vs. +$17.8bn the previous month. Equity ETFs had the lion’s share of the monthly cash flows contributing +$17.8bn, with fixed income ETFs adding +$3.9bn. Commodity ETPs witnessed monthly outflows totalling -$3.9bn primarily driven by outflows from gold ETPs (-$3.4bn) over May.
Within equities, ETFs focused on large caps, Japan, financial sector, dividends and IT sector were the biggest gainers collecting monthly cash inflows of +$5.4bn, +$3.7bn, +$2.8bn, +$2bn and +$1.5bn respectively. ETFs benchmarked to broad emerging markets and leveraged long strategy experienced cash outflows of -$2.1bn and -$1.2bn respectively in May.
Fixed income ETFs received strong cash flows of +$3.9bn over the month of May. Corporates continued to attract healthy flows; +$1.8bn in monthly flows taking the total to +$9.7bn YTD. Sovereign and broad fixed income benchmarked ETFs received inflows of +$1.4bn and +$0.7bn respectively, over the same period.
DM equities record inflows in Asia, EM outflows continue
During the month of May, Asia-Pacific ETP market experienced monthly cash inflows of +$4.2bn setting the YTD monthly flows average at +$1.2bn (+$6bn YTD in total cash flows). Developed market equity ETFs recorded inflows of +$4.3bn while emerging market equity ETFs registered outflows of -$0.8bn.
ETFs focused on Japan and short strategy ETFs recorded inflows of +$4.4bn and +$0.2bn respectively while China, Taiwan and Hong Kong focused ETF experienced outflows of -$719mn, -$168mn and -$121mn. Fixed income ETFs gained traction with inflows of +$385mn over the same period.
request report
Source: Deutsche Bank -Synthetic Equity & Index Strategy -Europe
ESMA Risk Dashboard
June 10, 2013--The overall level of systemic risk in EU securities markets decreased throughout 4Q12, as conditions in equity and bond markets improved.
Since mid-December, systemic risk has remained stable. Notwithstanding monetary policy support, the underlying sources of market uncertainty remain in place. Market clustering and fragmentation, funding risk, the low interest rate environment and obstacles to orderly market functioning remained important sources of uncertainty for EU financial stability. The recent restructuring of one national banking sector underlined the continued prevalence of the sovereign debt and banking crisis as a source of risk. On this basis, our outlook on liquidity, market and contagion risks remains unchanged.
view the ESMA ESMA Risk Dashboard-No. 2, 2013
Source: ESMA
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