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BlackRock gearing up for commission-free era
Septemeber 2, 2012--BlackRock's exchange traded fund (ETF) division, iShares, is gearing up for the UK's new distribution rules by hiring new hands.
iShares is to add at least six people to its UK-based operations in the months ahead as it prepares for the introduction of the Financial Services Authority’s retail distribution review (RDR) in January.
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Source: FT.com
Eurozone inflation rises to 2.6% in August
August 31, 2012--Eurozone inflation rose again in August to 2.6 percent, the EU statistics agency said on Friday in a flash estimate.
After holding steady at an annualised 2.4 percent over the three previous months, the figures from the Eurostat agency marked the 20th consecutive month that inflation came in above the ECB's medium-term inflation target of just below but close to 2.0 percent.
Source: EUbusiness
European ETF sec lending revenue hit 40 EURO million in 2011
August 31, 2012--A survey has found that approximately €40 million in net revenue was generated from securities lending in European physical replication exchange traded funds (ETFs) last year.
Information and data provider Morningstar’s survey of 10 European providers of physical replication ETFs comes after the European Securities and Markets Authority (ESMA) released controversial guidelines on ETFs and other UCITS issues that affect securities lending in July.
The guidelines were developed following a review of the current regulatory regime in Europe. ESMA found it to be “insufficient to address the specific features and risks associated with” index-tracking UCITS and UCITS ETFs and the efficient portfolio management techniques, such as securities lending, repo and reverse repo, that they may carry out.
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Source: Securities Lending Times
STOXX-Annual Blue-chip Review Q3/2012
Regular Annual Review to be effective on September 24, 2012
August 31, 2012--STOXX Limited, the market-moving provider of innovative, tradable and global index concepts, today announced the results of the regular annual review of the STOXX Blue-Chip Indices, among them the STOXX Europe 50, EURO STOXX 50, STOXX Nordic 30 and STOXX EU Enlarged
15 indices;
as well as the results of the second semi-annual review of the STOXX Eastern Europe 50 Index.
All changes will be effective with the open of European markets on September 24, 2012.
No changes will be made to the STOXX Europe 50, EURO STOXX 50 and STOXX Nordic 30 indices.
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Source: STOXX
Brussels pushes for wide ECB powers
August 31, 2012--The European Central Bank would be given sweeping authority over all 6,000 eurozone banks under a plan being drawn up by the European Commission, putting Brussels on a collision course with Germany and the ECB itself, which have urged a more decentralised first step towards "banking union".
The plan, agreed at a meeting this week between top aides to José Manuel Barroso, commission president, and Michel Barnier, the EU's senior financial regulator, would strip existing national supervisors of almost all authority to shut down or restructure their countries' failing banks, giving those powers to Frankfurt.
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Source: ECB
Economic sentiment declines further in both the EU and the euro area
August 30, 2012--In August the Economic Sentiment Indicator (ESI) decreased markedly by 2.0 points in the EU, to 87.0, and by 1.8 points in the euro area, to 86.1.
In both areas, the loss in confidence was particularly strong among consumers, retail trade and construction managers. In the services sector the loss in confidence was marked in the euro area but more contained in the EU as a whole. On the contrary, while confidence in industry decreased in the EU, it remained broadly stable in the euro area.
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Source: European Commission
LGIM Commodity ETF passes US$150MM
August 30, 2012--Legal & General Investment Management (LGIM) and Source are pleased to announce that the LGIM Commodity Composite Source ETF (Bloomberg code: LGCU LN Equity) has raised US$150 million in AUM since launch in January 2012 while the majority of providers have seen outflows in broad commodity ETFs in Europe, according to Bloomberg.
The LGIM® Commodity Composite IndexTM (Bloomberg code: TGPLGCC), which is the benchmark for the Source ETF, is designed to represent the collective performance of a wide range of commodities by providing an investible benchmark consisting of selected indices from leading global index providers. LGIM uses an in‐depth quantitative and qualitative screening process to select ‘best‐ofbreed’ commodity indices that combined deliver high‐quality, dynamic and cost‐efficient exposure to the broad commodities market.
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Source: Source
A Hood for heights
August 30, 2012--It isn't every day that you can see the chief executive of a fund management company doing a Spider-Man impression at the top of Europe's highest building.
But anyone who happens to be passing the Shard today (Monday September 3rd) at 6pm will be treated to the sight of Ted Hood, chief executive of Source, abseiling from the very pinnacle of the building to raise money for the Outward Bound Trust, an educational charity.
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Source: FT.com
August 30, 2012--ESMA STATEMENT-Short Selling Regulation Update: Market Maker & Primary Dealer Exemption Notification Procedure
August 30, 2012--ESMA publishes notice to alert financial market participants to its upcoming consultation on the market making and authorised primary dealer exemption under the EU's Short Selling Regulation and the procedure to
be followed by firms and regulators in dealing with notifications of intention to use the exemption.
DB-Equity Derivatives and Quantitative Strategy Research-Europe
August 29, 2012--Please find attached the most recent issue of the Weekly European ETF Market Monitor.
The report includes key statistics on the European ETF market as well as global ETF market highlights. For more detailed coverage please refer to our monthly report, issued in the first week following the end of each month.
The following link will be available for 90 days. For more information, please click on the link for the full PDF. If you have any trouble viewing the link, copy and paste the link in a browser.
http://pull.db-gmresearch.com/p/549-8879/66255849/Weekly_European_ETF_Market_Monitor.pdf
Source: Christos Costandinides, European Head of ETF Research & Strategy, Deutsche Bank
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