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Euro area investment fund statistics: second quarter of 2023
August 17, 2023--In second quarter of 2023, outstanding amount of shares/units issued by investment funds other than money market funds rose to €15,302 billion, up €304 billion on previous quarter
Net issuances in quarter amounted to €11 billion, with €953 billion in gross issuances and €942 billion in gross redemptions
Outstanding amount of shares/units issued by money market funds rose to €1,507 billion, up €18 billion on previous quarter
In the second quarter of 2023, the outstanding amount of shares/units issued by investment funds other than money market funds stood at €15,302 billion. Net issuances during this period were €11 billion, with gross issuances amounting to €953 billion and gross redemptions to €942 billion (see Chart 1). The annual growth rate of shares/units issued by investment funds other than money market funds, calculated on the basis of transactions, was 0.3% in the second quarter of 2023.
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Source: ECB
Official Statistics: Forecasts for the UK economy: August 2023
August 16, 2023--A comparison of independent forecasts for the UK economy in August 2023.
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Source: gov.uk
First Mover Americas: Europe's First Spot Bitcoin ETF Opens in Holland
August 15, 2023--The latest price moves in crypto markets in context for August 15, 2023.
London-based Jacobi Asset Management has listed Europe's first spot bitcoin exchange-traded fund (ETF) on Euronext Amsterdam nearly two years after it was first approved. The Jacobi FT Wilshere Bitcoin ETF is regulated by the Guernsey Financial Services Commission (GFSC) and will trade under the ticker "BCOIN."
Custody for the fund is provided by Fidelity Digital Assets and trading firm Flow Traders operates as market maker, Jacobi announced on Tuesday. Jacobi first won approval for the fund in October 2021 with plans to list it in 2022. However the firm opted to push back its plans due to the difficult crypto market conditions last year.
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Source: coindesk.com
New fixed income ETF from Tabula on Xetra: Fallen angels corporate bonds are currency-hedged in line with the Paris Climate Agreement
August 14, 2023--Since Monday, a new exchange-traded fund issued by Tabula has been tradable on Xetra and via Börse Frankfurt.
The Tabula Global High Yield Fallen Angels Paris-aligned Climate UCITS ETF (USD)-EUR-Hedged provides access to the portfolio of developed market high-yield corporate bonds that have been downgraded from an investment grade rating.
The bonds, known as fallen angels, must have positive climate and ESG factors.
To meet the criteria of the Paris Climate Agreement, the ETF aims to reduce greenhouse gas emissions by 50 per cent compared to the parent index and by 7 per cent per year.
It is a euro-hedged share class that minimises the impact of exchange rate fluctuations.
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Source: Xetra
Surge in ETF closures and fall in launches hits European market
August 14, 2023--Tiny net increase in new funds contrasts with huge numbers recorded in 2022 and 2021
Europe's exchange traded product market has seen a sharp fall in launches and a dramatic rise in closures this year, despite the supportive backdrop from firmer financial markets, in a sign that it may be reaching saturation.
Product proliferation ground to a virtual halt in the first seven months of the year, with the 132 launches almost cancelled out by 111 closures, according to data from Morningstar Direct.
The mix represents a marked deterioration from 2022, when Europe saw the launch of 382 exchange traded funds and products and just 50 closures.
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Source: ft.com
New ETNs from WisdomTree on Xetra: access to the performance of CAC 40 companies and the European banking sector with triple leverage
August 14, 2023--Since Monday, three new exchange-traded notes issued by WisdomTree have been tradable on Xetra and via Börse Frankfurt.
With the two WisdomTree CAC 40 3x-ETNs, investors can choose to participate in the triple leveraged rising or falling price performance of the 40 largest French companies in the CAC 40 index by market capitalisation.
The WisdomTree EURO STOXX Banks 3x Daily Short tracks the inverse price change of companies in the Eurozone banking sector with triple leverage. The top three holdings include banks such as BNP Paribas, Banco Santander and ING Group.
The three WisdomTree Exchange Traded Notes are debt securities that track the performance of a benchmark index and are fully collateralised.
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Source: Xetra
BlackRock launches suite of Ucits iBonds in Europe
August 10, 2023--The fixed-maturity funds work like bonds and have seen a surge of interest in the US
BlackRock has launched a suite of Ucits iBond ETFs, giving European investors easy access to fixed-income exchange traded funds that mature on a fixed date, just like their underlying portfolios of bonds.
The products -which mature and pay out like a bond, trade like a stock, but provide access to a diversified basket of securities-have been available in the US since 2010 but failed to gain much prominence in the low-interest rate decade preceding the Covid-19 pandemic.
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Source: ft.com
ESMA publishes latest edition of its newsletter
August 8, 2023--The European Securities and Markets Authority (ESMA), the EU's financial markets regulator and supervisor, has today published its latest edition of the Spotlight on Markets Newsletter.
Your one-stop-shop in the world of EU financial markets focused in July on the launch of the first consultation package under the Markets in Crypto-Assets Regulation.
ESMA is seeking input-by 20 September 2023-on proposed rules for crypto-asset service providers (CASPs), related to their authorisation, identification and management of conflicts of interests and also how CASPs should address complaints. See also our dedicated page, including the timeline.
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Source: ESMA
New equity ETF by WisdomTree on Xetra: high dividend and growth focused US companies including currency hedging
July 7, 2023--Since Monday, a new exchange traded fund issued by WisdomTree is tradable on Xetra and via Börse Frankfurt.
With the WisdomTree US Quality Dividend Growth UCITS ETF- EUR Hedged investors can invest in a portfolio of 300 US companies with high dividends and the best combination of growth and quality factors.
Companies are selected based on their potential long-term income growth and their average return on equity and return on assets. The weighting is based on dividend payments in previous years. Companies that do not fulfil the ESG criteria of WisdomTree are excluded from this investment.
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Source: Xetra
UK official holdings of international reserves: July 2023
August 3, 2023--This release details movements in the international reserves of gold and assets held by the UK Government.
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Source: gov.uk