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Credit Suisse to switch swap-based ETFs range to physical
March 27, 2012--Credit Suisse is to convert seven of its synthetic exchange traded funds (ETFs) to physical products, as part of a drive to become one of Europe's leaders in the physical ETF space.
The Swiss ETF provider said the conversion of the seven swap-based products will occur between 30 April and 10 May this year.
The move marks the second wave of conversions for the firm, following a similar process in November last year, which saw four CS ETFs switched to physical funds.
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Source: CityWire
12 new Commerzbank ETNs launched on Xetra
March 26, 2012--Twelve new exchange-traded notes (ETNs) issued by Commerzbank AG have been tradable on Xetra since Monday.
The new exchange-traded notes track both the positive and the inverse performance of the benchmarks SGX Nikkei 225 Index Future, Hang Seng Index Future and HSCEI Future (H-shares) with a respective leverage factor of three or four.
The underlying indices are strategy indices which are oriented to the price movement of the reference entity and consist of a leverage component and an interest rate component.
ETNs are tradable notes that track the performance of underlying reference indices outside of the commodities sector and provide investors with access to additional asset classes.
Deutsche Börse’s ETN segment product range currently comprises 135 instruments. The monthly trading volume of ETNs on Xetra averages around €100 million.
view the 12 ETNs listed for the first time including ISIN and management fee from 26 March 2012
Source: Xetra/FWB
Four new Lyxor commodity index ETFs launched on Xetra
March 26, 2012--Deutsche Börse continues to expand its XTF segment for exchange-traded
index funds. Four new Lyxor commodity index ETFs have been tradable since Monday.
ETF name: Lyxor ETF Broad Commodities Momentum TR
Asset class: commodity index ETF
ISIN: LU0721447596
Total expense ratio: 0.35 percent
Distribution policy: non-distributing
Benchmark: S&P Commodities Curve
Momentum Beta+ TR TM
The Lyxor ETF Broad Commodities Momentum TR tracks a strategy index weighted according to the situation in the commodities market. This means that in a backwardation situation, commodities have a heavier weighting in order to realise rolling profits. Rolling profits are generated when shorter futures are more expensive than longer ones.
ETF name: Lyxor ETF Broad Commodities Optimix TR
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Source: Xetra
Source launches the MSCI Europe Value Source ETF
March 26, 2012--Source is pleased to announce the launch of the MSCI Europe Value Source ETF, designed to provide value-focused exposure to the European equity market via the MSCI Europe Value EUR Total Return (Net) Index.
"Value investing has been popular since the 1920s,” says Source CEO Ted Hood. “This ETF allows investors to implement a European value strategy quickly and easily, while maintaining diversification and high liquidity.” The MSCI Europe Value Index is subset of the MSCI Europe Index, focused on stocks that exhibit “Value” - as opposed to “Growth” – characteristics. It currently comprises 214 stocks, or around 50% of the free float-adjusted market capitalisation of the MSCI Europe. The factors used to assess a stock’s value include book value, 12-month forward earnings and dividend yield.
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Source: Source
Synthetic ETFs get thumbs down
March 25, 2012--Synthetic exchange traded funds are rated as poor quality by almost a third of European investment managers, according to a survey by Edhec-Risk Institute.
Physical ETFs were much less likely to be viewed as poor quality. Edhec’s 2011 European ETF survey found just 1 per cent of those surveyed rated ETFs that hold all the constituents of an index as poor quality, a proportion that rose to 11 per cent for ETFs that hold a representative sample of stocks.
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Source: FT.com
Germany seeks alternatives to financial transaction tax
March 23, 2012--German Finance Minister Wolfgang Schaeuble said Friday he would seek alternatives to a cross-border tax on the finance industry that has run into fierce resistance in Europe.
Speaking to public broadcaster SWR in an interview to be transmitted on Saturday, Schaeuble appeared to back down on a French-led initiative for a financial transactions tax (FTT), acknowledging it would be nigh on impossible to push through at a European level.
"Instead, I will now back equal alternatives, such as extended stock market tax and one which has the broadest possible backing," Schaeuble said.
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Source: EUbusiness
MSCI Europe Value Source ETF launched on Xetra
March 23, 2012--A new equity index fund issued by Source has been tradable on Xetra since Friday.
ETF name: MSCI Europe Value Source ETF
Asset class: equity index ETF
ISIN: IE00B3LK4Z20
Total expense ratio: 0.35 percent
Distribution policy: non-distributing
Benchmark: MSCI Europe Value EUR TRN Index
The MSCI Europe Value Source ETF allows investors to participate in the performance of European companies whose share price is considered to be undervalued compared to the enterprise value. These are known as “value stocks”. The following key figures are taken into account: price/book value, 12-month earnings forecast to price and price/dividend ratio.
The product offering in Deutsche Börse’s XTF segment currently comprises a total of 948 exchange-listed index funds, while average monthly trading volume stands at €16 billion.
Source: Xetra
Stocks to be included in IMKB Stock Indices
March 23, 2012--ISE 100, ISE 50, ISE 30, ISE Bank 10 and ISE Dividend indices will be revised, starting from April 1, 2012.
view updates to indices
Source: Istanbul Stock Exchange
Kuveyt Turk Participation Bank B Type SilverPlus ETF is applied to be listed on IMKB
March 23, 2012--Bizim Securities applied for public offering and listing of "Kuveyt Türk Participation Bank B Type SilverPlus ETF", to
be issued by Kuveyt Türk, on March 23, 2012.
Source: Istanbul Stock Exchange
FSA-Retail Product Development and Governance-Structured Product Review
March 23, 2012--Executive Summary
1.1 Structured products1 are rising in popularity and we are concerned that the growing number of structured product sales, as well as increasing product complexity, is placing a strain on firms' systems and controls.
A lack of robustness in firms’ product development and marketing processes
can increase the risk of poorly designed products and lead to mis-selling, or mis-buying by
consumers.
1.2 To address this risk, we assessed seven major providers of structured products between November 2010 and May 2011. The review specifically looked at how the firms were designing structured products, identifying their target markets, and how they handled post-sales responsibilities.
view the FSA Retail Product Development and Governance-Structured Product Review
Source: FSA.gov.uk
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