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Ossiam offers the academic view for low volatility
January 18, 2012--Ossiam has launched a volatility-controlled exchange-traded fund that tracks the FTSE 100 Minimum Variance Index
Exchange-traded funds (ETF) provider Ossiam will list the first FTSE 100 Minimum Variance ETF on the London Stock Exchange (LSE) today, January 18. The ETF is designed to give investors exposure to liquid UK stocks that are weighted to minimise the volatility of the total portfolio.
"The concept of minimum variance is based on risk management techniques," says Isabelle Bourcier, director of development at Ossiam, "and intends to obtain an optimised portfolio that includes a selection of stocks where volatility is among the lowest in the investment universe. It is based on academic research, including works by Haugen et al in 2008, that demonstrates that historically low-volatility stocks had a very attractive performance."
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Source: Risk.net
Euro area annual inflation down to 2.7-EU down to 3.0%-December 2011
January 17, 2011--Euro area1 annual inflation was 2.7% in December 20112, down from 3.0% in November. A year earlier the rate was 2.2%. Monthly inflation was 0.3% in December 2011.
EU3 annual inflation was 3.0% in December 2011, down from 3.4% in November. A year earlier the rate was 2.7%. Monthly inflation was 0.3% in December 2011.
These figures come from Eurostat, the statistical office of the European Union.
Inflation in the EU Member States
In December 2011, the lowest annual rates were observed in Sweden (0.4%), Malta (1.3%) and Bulgaria (2.0%), and the highest in Slovakia (4.6%), Poland (4.5%) and Cyprus (4.2%). Compared with November 2011, annual inflation fell in twenty-one Member States, remained stable in two and rose in two.
The lowest 12-month averages4 up to December 2011 were registered in Sweden (1.4%), Slovenia and the Czech Republic (both 2.1%), and the highest in Romania (5.8%), Estonia (5.1%) and Latvia (4.2%).
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Source: Europe
EU bailout fund bonds see strong demand after downgrade
January 17, 2012--The EU's bailout fund, the EFSF, enjoyed strong demand Tuesday at an auction of six-month debt, Germany's central bank said, only a day after ratings agency Standard and Poor's downgraded it.
The Bundesbank, which organised the auction, said it received 4.6 billion euros' ($5.9 billion) worth of bids for the 1.5 billion euros of six-month bonds on offer, at an average rate paid to buyers of 0.2664 percent.
The bid-cover ratio, closely watched by the markets, was 3.1, meaning the auction of the first such EFSF offer of 6-month debt paper was heavily oversubscribed.
Christophe Frankel, deputy head of the fund, commented: "The success of today's auction confirms investors' confidence in the EFSF as a high quality issuer."
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Source: EUBusiness
Deutsche Börse acquires China Consumer Sentiment Survey
January 17, 2012--Deutsche Börse – Market Data & Analytics has acquired the China Consumer Sentiment Survey (CCSS), a leading indicator of consumer outlook across 30 major Chinese cities, from Intage Hyperlink Market Consulting (Shanghai) Co., Ltd. The deal closed on 30 December 2011 for an undisclosed amount of less than one million USD via Deutsche Börse subsidiary Market News International (MNI).
The CCSS is one of the most widely followed gauges of consumer confidence in mainland China. It measures consumer sentiment on current conditions and future expectations on a series of key variables, such as confidence about economic conditions, personal financial situation and the willingness to make major purchases, such as automobiles. It also measures consumers’ views about the state of stock and real estate markets and their sentiment about current and future inflation.
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Source: Deutsche Börse
Four new Lyxor commodity index ETFs launched on Xetra
ETFs cover inverse performance of agriculture and livestock, and industrial metals for the first time
January 17, 2012--Deutsche Börse continues to expand its XTF segment for exchange-traded index funds. Four new Lyxor commodity index ETFs have been tradable in the XTF segment since Tuesday.
The Lyxor ETF S&P GSCI Inverse Agriculture & Livestock 1 Month Forward and Lyxor ETF S&P GSCI Inverse Industrial Metals 1 Month Forward ETF offer investors their first opportunity to track the inverse performance of baskets of commodities from the agricultural and livestock sector and the industrial metals sector.
The positive performance of the same sectors can be tracked by means of the two Lyxor ETFs, S&P GSCI Agriculture & Livestock 3 Month Forward and S&P GSCI Industrial Metals 3 Month Forward.
The product offering in Deutsche Börse’s XTF segment currently comprises a total of 912 exchange-listed index funds, while the average monthly trading volume stands at €16 billion.
Lyxor commodity ETFs with ISIN and total expense ratio
Source: Xetra/FWB
WSE Introduces More Futures, Including Contracts on WSE Shares.
January 17, 2012--•On 23 January 2012, two more futures will be introduced to trading: contracts on shares of the Warsaw Stock Exchange and on shares of PBG SA.
According to the standard specification of the instrument, contracts which will be introduced to trading expire on three dates, which are as follows for the first series:
Contracts on WSE shares:
series FGPWH12, expiry date 16 March 2012
series FGPWM12, expiry date 15 June 2012
series FGPWU12, expiry date 21 September 2012
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Source: WSE
Requirements for OTC derivatives data reporting and aggregation: CPSS-IOSCO publishes final report
January 17, 2011--The Committee on Payment and Settlement Systems (CPSS) and the Technical Committee of the International Organization of Securities Commissions (IOSCO) have published their final report on the OTC derivatives data that should be collected, stored and disseminated by trade repositories (TRs).
The committees support the view that TRs, by collecting such data centrally, would provide authorities and the public with better and more timely information on OTC derivatives. This would make markets more transparent, help to prevent market abuse, and promote financial stability.
The final report reflects public comments received in response to a consultative version of the report published in August 2011. Following the consultation exercise, the report was expanded to elaborate on the description of possible options to address data gaps.
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Source: BIS
Fünf Jahre db X-trackers –Innovationen und Transparenz als Basis für weiteres Wachstum
January 17, 2012--db X-trackers, die Deutsche Bank Exchange Traded Funds (ETFs), hat heute vor fünf Jahren die ersten ETFs aufgelegt. Aus Anlass des fünfjährigen Bestehens zieht
Thorsten Michalik, Leiter von db X-trackers ETFs der Deutschen Bank, eine positive Bilanz: „db X-trackers wurde mit dem Ziel gegründet, ETFs aufzulegen, die ihre Indizes exakt und kostengünstig abbilden und neue Anlageklassen zugänglich
machen.
Diese Ziele haben wir erreicht.“ Innerhalb von fünf Jahren ist db X-trackers zum zweitgrößten ETF-Anbieter nach verwaltetem Vermögen in Europa und zur Nummer fünf weltweit aufgestiegen. Mit mehr als 200 ETFs in acht verschiedenen Anlageklassen ist db X-trackers der Anbieter mit der größten Produktpalette in Europa.
In den Jahren 2007 bis 2009 war db X-trackers der am schnellsten wachsende ETFAnbieter Europas. Aktuell werden 32 Milliarden Euro verwaltet (Stand 31.12.2011; Quelle: Deutsche Bank). Insgesamt bietet db X-trackers über 750 Börsenlistings an neun verschiedenen Börsen in Europa und Asien an. Für die weitere Entwicklung von db X-trackers und der ETF-Branche insgesamt zeigt sich Michalik zuversichtlich: „ETFs werden sich als Standard-Instrument für die Kapitalanlage etablieren, sowohl im kurzfristigen Handel als auch für eine strategische Positionierung. Ich bin überzeugt, dass db X-trackers von dieser Entwicklung profitieren wird."
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Source: db X-trackers
New iShares bond ETF launched on Xetra
January 16, 2012--A new bond ETF issued by iShares has been tradable in Deutsche Börse’s XTF segment since Monday.
ETF name: iShares Barclays Capital US Aggregate Bond
Asset class: bond index ETF
ISIN: DE000A1JNCQ2
Total expense ratio: 0.25 percent
Distribution policy: distributing
Benchmark: Barclays Capital US Aggregate Bond Index
The iShares Barclays Capital US Aggregate Bond enables investors to participate in the performance of US-Dollar denominated bonds including Treasuries, securitised bonds, and government and corporate bonds. Only bonds with a residual maturity of one year are considered.
The product offering in Deutsche Börse’s XTF segment currently comprises a total of 908 exchange-listed index funds, making it the largest offering of all European stock exchanges. This selection, together with an average monthly trading volume of €16 billion, makes Xetra Europe’s leading trading venue for ETFs.
Source: Xetra/FWB
Portugal Moves Into Default Territory
January 16, 2012--Portugal is trading in default territory after investors offloaded the country’s bonds this week amid rising fears of contagion. Worries are mounting that the private sector and Greece will fail to agree a restructuring package for Athens’ debt, the Financial Times reported.
Many investors were also forced to sell Portuguese bonds after Standard & Poor’s downgraded the country to junk on Friday. Other funds sold Portuguese debt after Lisbon was removed from Citigroup’s European Bond Index, which these investors track, because of its fall to junk status.
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Source: GlobalInsolvency.com
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