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Deutsche Boerse IPO indicator gives positive prognosis for IPOs in Frankfurt
Favourable market conditions expected for initial public offerings for Q1
January 28, 2013--Deutsche Börse published the IPO sentiment indicator forecasting issue activity for the 1st quarter of 2013 on Monday.
According to the indicator, the IPO climate, which reflects the sentiment of investors, companies and underwriters on the primary market, remained positive at 32.43 points compared to 32.8 points in the previous quarter.
In contrast to global IPO activities, market participants in Frankfurt see a favourable period for placing shares and expect a positive price level for them in the coming months. The lower volatility and higher valuation of equities is also having a positive effect on the primary market. According to the surveys, IPOs are primarily to be expected from March. This time window primarily arises from the fact that companies preparing for an IPO produce their financial statements by March, and from May onwards prepare their semi-annual reports.
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Source: Deutsche Börse
New SPDR ETF launched on Xetra
ETF tracks stock corporations in the euro zone
January 28, 2013--A new exchange-listed equity index fund issued by SPDR (State Street Global Advisors) has been tradable on Xetra® since Monday.
ETF name: SPDR MSCI EMU UCITS ETF
Asset class: equity index ETF
ISIN: IE00B910VR50
Total expense ratio: 0.30 percent
Distribution policy: non-distributing
Benchmark: MSCI EMU Index
The SPDR MSCI EMU UCITS ETF aims to track the performance of large and medium-sized companies on developed equity markets in the European Monetary Union (EMU). The reference index currently comprises 244 companies, representing a total of 85% of the market capitalisation in the euro zone.
The index covers companies from the following 11 industrialised countries: Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, the Netherlands, Portugal and Spain. The index is calculated in euros and the equities included are weighted according to free-float market capitalisation.
The product offering in Deutsche Börse’s XTF segment currently comprises a total of 1,021 exchange-listed index funds, making it the largest offering of all European stock exchanges.
Source:Xetra
Promotions at Source
January 28, 2013--Source is pleased to announce the promotion of five employees following an outstanding year. In 2012 Source was number two in Europe in capturing new Exchange Traded Product assets and rose to become the sixth largest provider after less than 4 years in the market.
The promotions reflect that success and include:
FIVE PROMOTIONS AT SOURCE FOR THE FAST GROWING EUROPEAN ETP PROVIDER
Ludovic Djebali: Promoted to Managing Director and Co-head of Sales
Stefan Garcia: Promoted to Managing Director and Co-head of Sales
Pierre Olivier Cohen: Promoted to Executive Director, Frabelux Sales
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Source: Source ETF
Euro area economic and financial developments by institutional sector-Third Quarter 2012
January 28, 2013--In the third quarter of 2012, the annual growth rate1 of households’ gross disposable income turned positive (0.4%) after a decrease (-0.3%) in the second quarter.
The annual growth rate of households’ consumption expenditure was 0.2% in the third quarter compared with 0.5% in the previous quarter. Following these developments the annual growth rate of households’ gross saving increased to 1.3%, compared with -3.4% in
the second quarter of 2012. The households’ gross saving rate2, remained broadly unchanged at 13.0%, compared with 13.1% in the third quarter of 2011.view more
Source: ECB
Changes in the management team of Eurex Repo and Eurex Bonds
Peter Reitz steps down from the management team of both Eurex subsidiaries/Eurex Repo and Eurex Bonds extend management
January 25, 2013--Eurex Group today announced management changes at both Eurex Repo GmbH and Eurex Bonds GmbH.
Peter Reitz, who has served as managing director at both companies since 2006, left both firms. However, he will continue to bear overall responsibility for the two subsidiaries on the Eurex Executive Board.
Frank Gast (43) and Rene Winkler (38) are the new appointees to the Eurex Repo management team; Marcel Naas remains responsible managing director at Eurex Repo. Gast, who holds a university degree in business administration, had been head of Sales in Zurich since 2010 and was previously responsible for developing the Securities Lending market.
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Source: Eurex
Proposals for Better Management of Non-Financial Risks within the European Fund Management Industry
January 25, 2013--In a summary document that concludes three years of research on better management of non-financial risks within the European fund management industry-conducted with the support of CACEIS-EDHEC-Risk Institute is putting forward a series of proposals to limit these risks which emerged during the 2007-2008 crisis and undermined the quality of the UCITS label.
For EDHEC-Risk Institute, the sophistication of UCITS is one of the principal causes of a rise in non-financial risks. These risks are not the direct result of positions taken by funds on financial markets and for which they receive a reward proportional to their exposure, but rather produced by the operation of the value chain of the collective investment management industry itself.
view the Proposals for Better Management of Non-Financial Risks within the European Fund Management Industry
Source: EDHEC
Six new UBS ETFs launched on Xetra
ETFs offer first-time access to commodities sectors of the Solactive index series
January 24, 2013--Six new exchange-traded equity index funds issued by UBS (Irl) ETF plc have been tradable in Deutsche Bõrse's XTF segment since Thursday. The new UBS ETFs from the Structured Solutions' "Solactive" index series enable investors to participate in the performance of international companies which make their income from the exploration, extraction and/or refining of gold, copper or oil.
The new products are aimed primarily at private investors through the A class and at institutional investors through the I class.
ETF name: UBS (Irl) ETF plc - Solactive Global Pure Gold Miners (USD) A-dis
Asset class: equity index ETF
ISIN: IE00B7KMNP07
Total expense ratio: 0.60 percent
Distribution policy: distributing
Benchmark: Solactive Global Pure Gold Miners Net Total Return Index
ETF name: UBS (Irl) ETF plc - Solactive Global Pure Gold Miners (USD) I-dis
Asset class: equity index ETF
ISIN: IE00B7KMTJ66
Total expense ratio: 0.43 percent
Distribution policy: distributing
Benchmark: Solactive Global Pure Gold Miners Net Total Return Index
ETF name: UBS (Irl) ETF plc-Solactive Global Copper Mining (USD) A-dis
Asset class: equity index ETF
ISIN: IE00B7JM9X10
Total expense ratio: 0.65 percent
Distribution policy: distributing
Benchmark: Solactive Global Copper Mining Net Total Return Index
ETF name: UBS (Irl) ETF plc-Solactive Global Copper Mining (USD) I-dis
Asset class: equity index ETF
ISIN: IE00B7JMFQ66
Total expense ratio: 0.48 percent
Distribution policy: distributing
Benchmark: Solactive Global Copper Mining Net Total Return Index
ETF name: UBS (Irl) ETF plc - Solactive Global Oil Equities (USD) A-dis
Asset class: equity index ETF
ISIN: IE00B5PYL424
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Source: Xetra
EDHEC-Risk Institute Calls on Investors to Take Better Account of Pension Liabilities when Analysing the Solvability of European Countries
January 24, 2013--While public and private pension systems in the EU are under tremendous pressure, a new study by EDHEC-Risk Institute analyses the explicit and implicit pension liabilities that are weighing on the public finances, and the principal related risks.
As structural deficits become a target in the Eurozone and beyond, it is fundamental to evaluate the extent to which the increasing funding needs, and decreasing funding basis of public pensions, could add to public deficits.
Due to the variety of national systems, obtaining a clear view of pension liabilities is not straightforward. The recent 2012 Ageing Report (European Commission, 2012) goes a long way in providing comparable figures and projections of public pension expenditures. On the basis of these projections to the year 2060, EDHEC-Risk Institute has estimated the net present value of the corresponding liabilities for various discount rates.
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Source: EDHEC
Moscow Exchange Shuns Foreign Stock Markets with IPO
January 23, 2013--The Moscow Exchange announced Monday that it will shun the foreign stock markets traditionally tapped by Russian companies and go ahead with an initial public offering on its own Russian trading platforms.
The size of the stake in the unified exchange being offered to foreign and domestic investors was not disclosed, but the company is looking to raise at least $500 million, said a source familiar with the situation.
The Moscow Exchange was formed by the 2012 merger of MICEX and RTS, the country’s leading bourses, and was supposed to help the Kremlin transform Moscow into an international financial center. Experts said that the success of the IPO could be a litmus test for how far this aspiration has been realized.
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Source: The St. Peterburg Times
EU financial tax might apply from 2015: French minister
January 23, 2013--A new tax on financial transactions cleared for development in 11 EU states by the European Union on Tuesday is unlikely to come in to effect within two years but will then generate substantial revenues, the French finance minister said on Wednesday.
Finance Minister Pierre Moscovici told BFMTV and RMC radio that an analysis would be carried out in 2013 and the measure would be applied from the end of 2014 "without a doubt, I hope," he added.
"We need two years no doubt, so it will be from 2015 (that it could be introduced) unless some states decide to go ahead unilaterally," he said.
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Source: EUbusiness
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