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IMF-Germany: Selected Issues
July 20, 2022--THE ECONOMIC IMPACTS ON GERMANY OF A POTENTIAL RUSSIAN GAS SHUTOFF
We analyze the potential impacts on the German economy of a complete and permanent shutoff of Russian natural gas supplies to Europe, starting on June 1, 2022. We find that such a scenario could lead to gas shortages of 9 percent of national consumption inthe second half of 2022, 10 percent in 2023 and 4 percent in 2024, which would likely fall on firms, given legal protections on households.
The effects of less gas on production are combined with the consequent effects of reduced supply of intermediate goods and services to downstream firms, and with reduced economic activity due to rising uncertainty. Together, these three channels reduce German GDP relative to baseline levels by about 1.5 percent in 2022, 2.7 percent in 2023 and 0.4 percent in 2024, withno gains in subsequent years from deferred economic activity. The associated rise in wholesale gas prices could increase inflation by about 2 percentage points on average in 2022 and 2023. The economic impacts can be reduced significantly by rationing gassupplies more to more gas-intensive and downstream firms, and by having households share in the burden.
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Source: imf.org
New Equity ETF from SPDR on Xetra: access to emerging market companies with a focus on low-carbon economy
July 19, 2022--A new exchange-traded fund from State Street Global Advisors has been tradable on Xetra and via Börse Frankfurt since Tuesday.
The SPDR MSCI Emerging Markets Climate Paris Aligned UCITS ETF gives investors the opportunity to participate in the performance of climate-friendly companies from emerging markets. It is a subset of companies from the MSCI Emerging Markets Index.
These companies align their business model to mitigate climate risks and seize the opportunities of the transition to a lower carbon economy. The aim is to meet the requirements of the Paris Climate Agreement.
Companies that have a negative ESG impact on their operations or products and services are excluded.
Name: SPDR MSCI Emerging Markets Climate Paris Aligned UCITS ETF
Asset class: Equity-ETF
ISIN: IE00BYTH5263
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Source: Xetra
How a Russian Natural Gas Cutoff Could Weigh on Europe's Economies
July 19, 2022--The partial shutoff of gas deliveries is already affecting European growth, and a full shutdown could be substantially more severe.
Russia's invasion of Ukraine has further darkened the global growth outlook, with the European economy facing a serious setback given trade, investment, and financial links with the warring countries. Now, Europe is enduring a partial cutoff of natural gas exports from Russia, its largest energy supplier.
The prospect of an unprecedented total shutoff is fueling concern about gas shortages, still higher prices, and economic impacts. While policymakers are moving swiftly, they lack a blueprint to manage and minimize impact.
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Source: imf.org
New bond ETF from Amundi on Xetra: access to the global market for short and medium-term investment grade bonds with an ESG focus
July 19, 2022--A new exchange-traded fund issued by Amundi Asset Management has been tradable on Xetra and via the trading venue Böörse Frankfurt since Tuesday.
The Amundi Global AGG SRI 1-5 UCITS ETF DR- USD (C) offers investors access to the global fixed-income bond market with an investment grade rating and a residual term of between one year and less than five years.
The developed and emerging market government and corporate bonds have a minimum outstanding size of US$500 million.
Issuers must have an ESG rating of at least BBB and must not be involved in controversial business sectors such as alcohol, tobacco, nuclear power, or thermal coal.
Investors have the flexibility to trade the ETF in the currency of their choice, Euro or US Dollar, using the same ISIN.
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Source: Deutsche Börse
Solactive Launches Solactive Future Energy ESG Index Offering Exposure to Securities That Provide Renewable Energy or Contribute to Its Value Chain
July 19, 2022--Achieving net zero emissions is among the most pressing matters in our times. Impending renewable energy policy deadlines are likely to push this topic even further, driving motivation amongst investors to join the trend for ESG investment strategies. Solactive is now pleased to announce the launch of the Solactive Future Energy ESG Index. The product offers exposure to securities that provide renewable energy or contribute to its value chain.
The index constituents are companies active in the following industries: solar energy, wind energy, geothermal energy, battery & energy storage, hydrogen power, and smart energy & alternative power. After the screening, companies are excluded based on the ESG criteria detailed in the guideline, such as failure to respect established norms or very severe controversies in human rights, and verified ongoing involvement in controversial weapons research. This index is licensed among others by the German Asset Manager Deka Investment.
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Source: Solactive AG
Interest in European ETFs holds up despite headwinds
July 19, 2022--Flows to the sustainable funds fell by less than the market as a whole despite some signs of cooling sentiment
Interest in European exchange traded funds that invest according to good environmental, social and governance principles have held up better than non-ESG counterparts, despite concerns that sentiment might be cooling.
While ESG ETF inflows halved in the second quarter, relative to the first three months of the year, to €4.2bn, they fell by less than the European ETF market as a whole. As a result ESG ETFs represented 42 per cent of total ETF flows in Q2, compared with 30 per cent in Q1, Morningstar data show.
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Source: FT.com
New thematic ETFs from Xtrackers on Xetra: access to technologically innovative companies worldwide
July 19, 2022-Four new exchange traded funds issued by Xtrackers have been tradable on Xetra and via Börse Frankfurt since Tuesday.
The Xtrackers MSCI Genomic Healthcare Innovation UCITS ETF allows investors to invest in the performance of the 100 largest companies worldwide by market capitalisation that generate significant revenues from technological innovations in the healthcare sector in the field of genomics.
The Xtrackers MSCI Next Generation Internet Innovation UCITS ETF invests in the world's 100 largest companies by market capitalisation that generate significant revenues from technological innovation in the internet sector.
The Xtrackers MSCI Fintech Innovation UCITS ETF focuses on the world's 100 largest companies by market capitalisation that generate significant revenues from technological innovation in the financial sector.
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Source: Xetra
Reforms Can Support Inclusive Growth in Turbulent Economic Times
July 18, 2022--Reforms supported by investments in green and digital infrastructure and human capital can boost, and even double, the growth potential in some EU member states between now and 2030, according to a new World Bank report.
The latest European Union Regular Economic Report-Living Up to Potential in the Wake of Adverse Shocks - reviews how some EU member states can navigate turbulent economic times to foster long-term growth and inclusion following a pandemic, an ongoing conflict in the region and a cost of living crisis.
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Source: worldbank.org
ETFGI reports the ETFs industry in Europe reported net outflows of 522 million US dollars in June after 26 months of consecutive net inflows
July 15, 2022--July 15, 2022--ETFGI, a leading independent research and consultancy firm covering trends in the global ETFs/ETPs ecosystem, reported today reports the ETFs industry in Europe reported net outflows of US$522 million in June after 26 months of consecutive net inflows, bringing year-to-date net inflows to US$68.17 billion.
During the month, assets invested in the European ETF/ETP industry decreased by 7.3%, from US$1.48 trillion at the end of May to US$1.37 trillion, according to ETFGI's June 2022 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
Assets of $1.37 Tn invested in ETFs and ETPs listed in Europe at the end of H1 2022.
Assets decreased 14.0% in H1 2022, going from $1.60 Tn at end of 2021 to $1.37 Tn.
Net outflows of $522 Mn in June 2022 after 26 consecutive months of net inflows.
Net inflows of $68.17 Bn are the second highest on record in H1 2022, after net inflows of $111.97 Bn in H1 2021.
$149.84 Bn in net inflows gathered in the past 12 months.
1st month of net outflows.
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Source: ETFGI
Euro reaches parity with dollar for the first time in 20 year
July 12, 2022---The euro and the dollar have reached parity for the first time in 20 years, signalling the market's assumption that the European economy is heading for a deep recession as a result of Russia's invasion of Ukraine.
Today, 1 EUR equals 1 USD.
The shift means European companies and consumers will pay more for the goods and services they import, while European exports become immediately cheaper in international markets.
The euro has experienced a dramatic loss of value since early February when it was worth over $1.13.
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Source: euronews.com
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