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Industry authority launches ETF GLOBAL INSIGHT
Deborah Fuhr and team to provide independent research and consultancy to the global ETF industry
February 23, 2012--February 23, 2012 -Award-winning ETF authority, Deborah Fuhr, together with her long-established team, announced today the formation of ETF Global Insight, an independent research and consultancy firm aimed at providing services to the rapidly expanding global Exchange-Traded Fund (ETF) industry.
The new firm is focused on providing thought leadership; publishing independent research on the industry, products, applications, competitor analysis; providing education and assistance to investors on product comparison, asset allocation implementation and offering customised research.
The founding partners of the firm bring a wealth of ETF implementation and capital markets experience to the venture. Deborah Fuhr, Shane Kelly and Matthew Murray were instrumental in the development of the first ETF global industry research reports and worldwide handbooks while they were at Morgan Stanley and most recently they have been responsible for the development and production of ETF reports and handbooks at BlackRock/Barclays Global Investors.
Co-founding partner Deborah Fuhr said: "Having covered the ETF industry since 1997 when there were only 21 products and US$21 billion in assets under management I believe that ETFs have been one of the most successful financial products of the past 25 years, bringing investors liquidity, diversification and low-cost access to a wide range of asset classes around the world. While asset growth in the ETF industry has been tremendous, regulators, investors, ETF managers, brokers, index providers and all of the members of the ETF eco-system have been citing the need for more and better independent education, research and customised assistance to investors seeking to navigate the vast array of products. ETF Global Insight has been set up to provide this service across the globe."
Highly regarded and experienced team
Fuhr was previously the Global Head of ETF Research and Implementation Strategy and a Managing Director at BlackRock and Barclays Global Investors from Sept 2008 – Oct 2011. Under Ms Fuhr’s guidance, BlackRock’s Global ETF Research and Implementation Strategy team was responsible for advising clients on the implementation of asset allocation strategies using ETFs, producing analysis and guidebooks on the global ETF industry.
Prior to joining BlackRock in September 2008, Ms Fuhr spent 11 years at Morgan Stanley where she was a Managing Director and head of the Investment Strategies Group based in London.
Shane Kelly is a former Vice President at Merrill Lynch and former Vice President and Investment Strategist at BlackRock/BGI; prior to that he was an Associate in the Investment Strategies Group at Morgan Stanley. Matthew Murray is a former Associate at Merrill Lynch and a former Analyst in Fuhr’s team at BlackRock.
During their time at BlackRock, the team won numerous awards for their research which was distributed to over 13,000 professional investors around the world.
Fuhr added: "The need for independent research and assistance in navigating the ETF landscape is even greater today than at any time in the past ten years. Across North America, Europe, Asia, and Latin America, there are exciting opportunities to bring ETFs to more investors in more countries with quality tools and research that serve their requirements. We believe the industry will see significant change as investors and regulators demand greater transparency, clarity and information which will benefit investors globally."
ETF Global Insight is a passionate advocate of the value proposition offered to investors by the ETF product category. The firm believes that true ETFs have been a tremendous advantage to investors, providing transparency, liquidity, diversification and choice to millions of investors. ETFs have grown from less than $25 billion of assets globally in 1997 to more than $1,500 billion at the end of January 2012.
Source:ETF Global Insight
ESMA launches a consultation on Key concepts of the Alternative Investment Fund Managers Directive and types of AIFM
February 23, 2012--Responses to this discussion paper will help ESMA in finalising its policy approach. In light of the feedback received, ESMA will develop a consultation paper in Q2 2012 setting out formal proposals for draft regulatory technical standards on Article 4(4) of the AIFMD.
The results of that public consultation will be used by ESMA in finalising the draft regulatory technical standards to be submitted to the European Commission for endorsement by the end of 2012.
view consultation paper
Source: ESMA
Alan Miller teams with Deutsche to launch UK's first ETF of ETFs
February 22, 2012--SCM Private is launching the first exchange traded fund (ETF) of ETFs in the UK in conjunction with db X-trackers, to provide a low-cost, actively managed multi-asset strategy.
The db X-trackers SCM Multi Asset ETF provides exposure to a portfolio of ETFs and exchange traded commodities (ETCs), with the aim of using asset allocation to accumulate returns significantly above inflation.
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Source: Wealth Manager
ETF Research : Weekly European ETF Market Monitor & Global Product Directory
February 22, 2012--The most recent issue ofthe Weekly European ETF Market Monitor is now available. 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.
To request a copy of the report
Source: Christos Costandinides, European Head of ETF Research & Strategy, Deutsche Bank
Painful period of synthetic-ETF losses comes to end
February 22, 2012--Synthetic exchange-traded products experienced a turnaround in fortunes in January, according to BlackRock figures, ending a painful six-month period which saw them haemorrhage some $11.7bn (€8.9bn) of assets.
According to the latest ETF statistics from BlackRock,
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Source: FT.com
Publication of a list of prospectuses and supplements on ESMA's website
February 22, 2012--Further to the different information requirements allocated to ESMA by the Directive 2010/78/EU (the so called Omnibus Directive) and reflected in the Amended Prospectus Directive (the Prospectus Directive as amended by Directive 2010/73/EU), ESMA informs its website users and stakeholders that, until further notice, the information required on Prospectus will only be available at the relevant National Competent Authority.
The information will be available in one of the forms detailed in article 14.4 of the Amended Prospectus Directive.
Article 14.4. of the Prospectus Directive: the competent authority of the home Member State shall publish on its website over a period of 12 months, at its choice, all the prospectus approved, or at least the list of prospectuses approved in accordance with Article 13, including, if applicable, a hyperlink to the prospectus published on the website of the issuer, or on the website of the regulated market.
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Source: ESMA
EU approves new Greek bailout
February 21, 2012--Eurozone finance ministers in Brussels approved early on Tuesday a second bailout of Greece after six months of extremely tense discussions which exposed sharp divisions in Europe.
The last few weeks of negotiations stalled on deep mistrust by some northern European countries of the determination in Greece to enact commitments and change the political culture.
These were some of the other major hurdles encountered:
FINANCIAL AID
The new bailout should be the biggest in history.
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Source: EUbusiness
Three new UBS equity index ETFs launched on Xetra with focus on growth stocks
February 21, 2012--Three new exchange-traded equity index funds issued by UBS Global Asset Management are tradable in Deutsche Börse's XTF segment since Tuesday.
ETF name: UBS ETFs plc - MSCI USA Growth TRN Index SF A-acc (USD)
Asset class: equity index ETF
ISIN: IE00B5ST4671
Total expense ratio: 0.76 percent
Distribution policy: non-distributing
Benchmark: MSCI Daily TR Net Growth USA USD Index
ETF name: UBS ETFs plc - MSCI USA Growth TRN Index SF I-acc (USD)
Asset class: equity index ETF
ISIN: IE00B4X9WC78
Total expense ratio: 0.59 percent
Distribution policy: non-distributing
Benchmark: MSCI Daily TR Net Growth USA USD Index
ETF name: UBS ETFs plc - MSCI EMU Growth TRN Index SF, A-acc (EUR)
Asset class: equity index ETF
ISIN: IE00B4MFJH03
Total expense ratio: 0.40 percent
Distribution policy: non-distributing
Benchmark: MSCI Daily TR Net Growth EMU Local Index
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Source: Deutsche Börse
European Council-Regulation adopted on short selling and credit default swaps
February 21, 2012--The Council today adopted a regulation on short selling and certain aspects of credit default swaps which introduces common EU transparency requirements and harmonises the powers that regulators may use in exceptional situations where there is a serious threat to financial stability (docs 6216/12 + 6216/12 ADD 1 REV 1 + PE-CONS 68/11).
Adoption of the regulation follows agreement reached with the European Parliament in first reading on 18 October 2011, and subsequent approval by the Permanent Representatives Committee on 10 November 2011.
At the height of the financial crisis in 2008, several member states adopted emergency measures to restrict or ban short selling in some or all securities in order to counter a downward spiral in the prices of shares that could create systemic risks.
As the EU lacks a common regulatory framework for dealing with short selling, member states adopted divergent measures. The current fragmented approach limits the effectiveness of the adopted measures and results in regulatory arbitrage2.
view full text REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on short selling and certain aspects of credit default swaps
Source: European Council
NASDAQ OMX Starts Trading in Actively Managed ETF from Alpcot
February 21, 2012-NASDAQ OMX Stockholm today lists a new actively managed ETF (Exchange Traded Fund) from Alpcot Capital Management. The "Alpcot Active Greater Russia ETF (short name: AAGR) is a UCITS IV compliant fund that invests in the securities of issuers based in the 'Greater Russia' region, i.e. Russia and other CIS region states
Björn Lindström, partner at Alpcot Capital Management said: "This is a truly actively managed equity ETF that targets retail and institutional investors locally, as well as professional investors across Europe. The product uniquely captures the best of both worlds of investing by offering investors real-time trade execution and a high degree of transparency, while also allowing for effective active management to take place."
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Source: NASDAQ OMX
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