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Euro area securities issues statistics: July 2021
September 10, 2021--The annual growth rate of the outstanding amount of debt securities issued by euro area residents was 4.3% in July 2021, compared with 4.2% in June.
For the outstanding amount of listed shares issued by euro area residents, the annual growth rate was 2.4% in July 2021, compared with 2.5% in June.
Debt securities
New issuances of debt securities by euro area residents totalled EUR 759.6 billion in July 2021. Redemptions amounted to EUR 670.6 billion and hence net issues to EUR 89.0 billion. The annual growth rate of outstanding debt securities issued by euro area residents was 4.3% in July 2021, compared with 4.2% in June.
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Source: ecb.europa.eu
IMF-Departmental PaperPension Reforms in Europe: How Far Have We Come and Gone?
September 10, 2012--Summary:
In the past few decades,a myriad of reforms in Europe have had a significant impact on the way and extent to which public pensions provide retirement income.
This departmental paper takes stock of where European pension systems stand and assesses their key characteristics. We present a novel measure of the balance between lifetime benefits and contributions-the Proportionality Measure-to examine pension systems' long-term sustainability, fairness, and intergenerational equity.
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Source: IMF
New thematic ETF from Quikro via HANetf white-label platform: Sustainable and healthier living
September 9, 2021--September 9, 2021--A new exchange-traded fund from Quikro has been tradable on Xetra and Börse Frankfurt via HANetf's white-label platform since Thursday.
The Cleaner Living ESG-S UCITS ETF-Acc gives investors exposure to a portfolio of companies worldwide focused on producing environmentally friendly goods and providing services towards a healthier lifestyle.
For inclusion in the index, at least 80 per cent of sales must be derived from at least one of the following five business sectors: cleaner building and infrastructure, cleaner energy, cleaner food, cleaner health, and cleaner transportation. The products and services offered focus on reducing waste, using natural and recyclable ingredients, and lowering CO2 emissions.
Companies that do not comply with current international standards on human rights, environmental protection, labour practices, anticorruption, and controversial weapons production are excluded from the index. Additionally, companies with too high a carbon intensity are not included.
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Source: Xetra
AXA IM, Natixis IM/Mirova, Sienna Investment Managers and Solactive partner to accelerate the development of Iceberg Data Lab, European provider of environmental data solutions
September 9, 2021--AXA Investment Managers (AXA IM), Natixis IM and its affiliate Mirova, Sienna Investment Managers and Solactive today announce they have entered into an agreement with Iceberg Data Lab to participate in its series A fund raise. Following this minority investment, each investor will also be represented at Iceberg Data Lab's Supervisory Board in order to support the development of the company.
With increased demand from both financial institutions and their stakeholders for better transparency on the impact of portfolios on climate and the environment, AXA IM, Natixis IM/Mirova, Sienna Capital and Solactive will support Iceberg Data Lab's global expansion and product development which includes data coverage enlargement, automated machine learning and autonomous AI.
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Source: Solactive AG
ETFs struggle to adapt to EU's new SFDR sustainable fund rules
September 9, 2021--Actively managed vehicles have been able to tweak their strategies but passive funds face tougher challenges
Index-tracking and exchange traded funds are at risk of missing out on demand for sustainable funds as they struggle to adapt to new EU disclosure rules.
The EU's Sustainable Finance Disclosure Regulation, which came into force in March, classifies funds that promote environmental or social characteristics among other objectives as article eight, and funds that have sustainable investment as their objective as article nine.
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Source: ft.com
IMF-Austria: Selected Issues-The COVID-19 Impacts On Austria
September 9, 2021--The COVID-19 pandemic adversely affected the Austrian economy. Evidence from previous crises suggests that economic scarring is common and driven by labor market hysteresis, impaired corporate balance sheets, and deteriorating productivity. As the recovery takes hold, policies aiming at preventing potential rise in long-term unemployment, as well as addressing skills and regional mismatches can foster job creation and promote efficient reallocation of labor.
Targeted equity-like instruments and an effective insolvency framework can help rehabilitate corporate balance sheets while allowing nonviable to efficiently exit the market. A. Introduction 1. The COVID-19 Pandemic led to a severe recession in Austria. Measures aiming at containing the health crisis-including social distancing, lockdowns, and closures-significantly disrupted the economy. Austria's real GDP growth plummeted by 6.3 percent in 2020. Unemployment surged, firms' production and services were severely disrupted, especially in contact intensive sectors such as tourism, and productivity dwindled. On the demand side, private consumption and investment plunged.
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Source: IMF
ESAs highlight risks in phasing out of crisis measures and call on financial institutions to adapt to increasing cyber risks
September 8, 2021--The three European Supervisory Authorities (EBA, EIOPA and ESMA-ESAs) issued today their second joint risk assessment report for 2021. The report highlights the increasing vulnerabilities across the financial sector, the rise seen in terms of cyber risk and the materialisation of event-driven risks.
As the recovery begins, the appropriate phasing out of exceptional crisis measures plays a key role. Despite the positive outlook, the expectations for economic recovery remain uncertain and uneven across member states.
Vulnerabilities in the financial sector are increasing, not least because of side effects of the crisis measures, such as increasing debt levels and upward pressure on asset prices. Expectations of inflation- and yield growth, as well as increased investor risk-taking and financial interconnectedness issues, might put additional pressure on the financial system.
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Source: ESMA
NextGeneration EU: European Commission gearing up for issuing 250 billion Euros of Next Generation EU green bonds
September 7, 2021--The European Commission has today adopted an independently evaluated Green Bond framework, thus taking a step forward towards the issuance of up to €250 billion green bonds, or 30% of NextGenerationEU's total issuance.
The framework provides investors in these bonds with confidence that the funds mobilised will be allocated to green projects and that the Commission will report on its environmental impact.
Now that the framework has been adopted, the Commission will soon proceed with the first green bond issuance in the month of October, subject to market conditions.
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Source: ec.europa.eu
ETFGI reports ETFs listed in Europe reached record assets and net inflows at the end of August have surpassed the prior full year record
September 7, 2021--ETFGI, a leading independent research and consultancy firm covering trends in the global ETFs and ETPs ecosystem, reports ETFs listed in Europe reached record assets and net inflows at the end of August have surpassed the prior full year record. The net inflows into ETFs and ETPs listed in Europe were US$12.07 billion during August, bringing year-to-date net inflows to US$139.42 Bn which is US$19 Bn greater than the full year 2020 net inflows of US$119.93 Bn and $14 Bn more than the record $125.18 Bn net inflows gathered in 2019.
Assets invested in the European ETFs/ETPs industry have increased by 2.1%, from US$1.51 trillion at the end of July, to a record US$1.54 trillion, according to ETFGI's August 2021 European ETFs and ETPs industry landscape insights report, the monthly report which is part of an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)
Highlights
Record $1.54 trillion invested in ETFs and ETPs listed in Europe at the end of August 2021.
Record YTD 2021 net inflows of $139.42 Bn beating the prior record of $78.11 Bn gathered in YTD 2017.
$139.42 Bn YTD net inflows are $19 Bn greater than the $119.93 Bn full year 2020 net inflows and $14 Bn more than the record $125.18 Bn net inflows gathered in 2019.
$199.3 billion in net inflows gathered in the past 12 months.
Assets increased 20.2% YTD in 2021, going from US$1.28 trillion at end of 2020, to US$1.54 trillion.
17th month of consecutive net inflows
Equity ETFs and ETPs listed in Europe gathered a record $101.35 Bn in YTD net inflows 2021.
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Source: ETFGI
Haitong International Debuts the World's First Asia High Yield Corporate USD Bond ESG ETF in Tie-In with Tabula
September 6, 2021-Haitong International Asset
Management (HK) Limited ("Haitong International Asset Management"), a
subsidiary of Haitong International Securities Group Limited ("Haitong
International" or "the Group"; 665.HK), today announced the launch of the
world's first ESG focused Asia ex Japan high yield corporate USD bond ETF.
This ETF was jointly developed by Haitong International Asset Management and Tabula Investment Management Limited ("Tabula"), a UK-based asset manager and
ETF provider.
This ETF is also Haitong International's first listed fund in Europe. The ETF tracks an Asia high yield USD bond index jointly developed by Haitong International Asset Management, Tabula and IHS Markit, and also utilizes MSCI ESG data which allows the ETF to provide professional investors with broad exposure to Asia ex Japan USD High Yield bonds while aiming to deliver enhanced liquidity and ESG profile.
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Source: bloomberg.com