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ESMA and NCAs find room for improvement in funds' liquidity stress testing
March 30, 2022-The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, has carried out a supervisory engagement with investment funds together with National Competent Authorities (NCAs). The exercise focused on liquidity risk in corporate debt and real estate funds, with the results showing that the funds included in the scope of the analysis do not pose any substantial risk for financial stability.
While the overall degree of compliance is satisfactory, it also highlights some room for improvement and continued monitoring, especially on the liquidity stress testing and valuation of less liquid assets. Many NCAs reported that management companies were able to manage episodes of valuation uncertainty in March 2020 and that they have not identified any strong valuation issue for the funds in the scope of the exercise.
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Source: ESMA
Actively managed funds fail to outperform benchmarks during market stress
March 28, 2022--The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, is publishing the outcome of a study analysing the performance of actively managed equity UCITS relative to their prospectus and market benchmark indices, between 19 February 2020 and the end of June 2020.
The results shed light on equity fund performance by type of management, especially during a period of stress such as the first wave of COVID-19. ESMA concludes that actively managed funds did not consistently outperform passive during this period.
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Source: ESMA
ECB-Monetary developments in the euro area: February 2022
March 25, 2022--Annual growth rate of broad monetary aggregate M3 stood at 6.3% in February 2022, after 6.4% in January 2022
Annual growth rate of narrower monetary aggregate M1, comprising currency in circulation and overnight deposits, stood at 9.0% in February, compared with 9.1% in January
Annual growth rate of adjusted loans to households stood at 4.4% in February, compared with 4.3% in January
Annual growth rate of adjusted loans to non-financial corporations stood at 4.4% in February, unchanged from previous month
Components of the broad monetary aggregate M3
The annual growth rate of the broad monetary aggregate M3 stood at 6.3% in February 2022, after 6.4% in January, averaging 6.6% in the three months up to February. The components of M3 showed the following developments. The annual growth rate of the narrower aggregate M1, which comprises currency in circulation and overnight deposits, stood at 9.0% in February, compared with 9.1% in January. The annual growth rate of short-term deposits other than overnight deposits (M2-M1) stood at -0.3% in February, compared with -0.2% in January. The annual growth rate of marketable instruments (M3-M2) decreased to -0.5% in February from 0.5% in January.
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Source: ECB
New crypto ETN issued by CoinShares on Xetra: access to cryptocurrency Solana with staking reward
March 23, 2022--Since Wednesday, another crypto ETN from CoinShares is tradable on Xetra and Börse Frankfurt.
With the new exchange-traded note (ETN), investors can participate in the performance of the cryptocurrency Solana and additionally collect a staking reward of 3 per cent per year.
The staking reward is earned by depositing the cryptocurrency for validation of transactions on the blockchain. In addition, CoinShares has reduced the management fee to 0.0% per year.
This increases CoinShares' product offering to seven crypto ETNs, all of which are fully physically collateralized and centrally cleared by Eurex
Name: CoinShares FTX Physical Staked Solana
Asset class: ETN
ISIN: GB00BNRRFY34
Ongoing charges: 0 per cent /3 per cent
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Source: Deutsche Börse
New ETP Issuer Fidelity Expands Fast-Growing Crypto Offering on SIX Swiss Exchange
March 23, 2022--With two new bitcoin ETPs from Fidelity, investors now can trade 133 crypto ETPs on the leading regulated exchange for investment products based on cryptocurrencies.
Fidelity Exchange Traded Products GmbH is admitting two new ETPs to trading on the Swiss stock exchange. With Fidelity's Bitcoin ETP in US dollars and Swiss francs, investors benefit from an increasing choice in the crypto segment of SIX Swiss Exchange. With Fidelity, the number of crypto ETP issuers grows to to 10, and the number of tradable crypto ETPs to 133. ETPs and Structured Products combined, investors currently have a choice of 208 products based on 18 cryptocurrencies.
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Source: six-group.com
New bond index ETFs issued by Amundi on Xetra: Access to fixed-rate Euro-bonds with investment-grade rating
March 22, 2022--Two new exchange-traded funds issued by Amundi Asset Management have been tradable on Xetra and Börse Frankfurt since Tuesday.
The Amundi Index Euro Corporate SRI UCITS ETF DR- EUR (C) offersinvestors access to fixed-rate euro-denominated corporate bonds with investment-grade rating.
The selected bonds must have a minimum outstanding volume of 300 million Euro and a maturity of of at least one year.
The Amundi Index Euro AGG SRI UCITS ETF DR- EUR (C) provides exposure to fixed- income bonds issued in Euro with investment-grade rating. The bond ETF includes treasuries, government-related bonds, corporate and securitized issues.
For both bond ETFs, companies must have an ESG rating of at least BBB. Companies with a red MSCI ESG Impact Monitor score and those with business activities in tobacco, alcohol, gambling, adult entertainment, genetically modified organisms, power plant coal, oil sands and controversial weapons are excluded.
For both products, accruing coupon payments are reinvested.
view more New equity index ETF from Franklin Templeton on Xetra: access to companies from Taiwan Name: Franklin FTSE Taiwan UCITS ETF view more Deutsche Boerse welcomes GraniteShares as new ETN issuer on XetraAccess to the Big Five US companies FAANG long and short
Name: GraniteShares FAANG ETP view more ESMA Working Paper No. 1, 2022 Flash crashes on sovereign bond markets-EU evidence Indxx Integrates ESG Data from Minerva Analytics into Index Solutions view more If you are looking for a particuliar article and can not find it, please feel free to contact us for assistace.
ISIN: LU1437018168
Ongoing charges: 0.14 per cent
Source: Deutsche Börse
March 22, 2022--Since Tuesday, a new exchange-traded fund issued by Franklin Templeton is tradable on Xetra and via Börse Frankfurt.
The Franklin FTSE Taiwan UCITS ETF gives investors access to over 100 Taiwanese companies with high and medium market capitalisation.
The largest company by market capitalisation may have a maximum weighting of 30 per cent, while the weighting of the other companies may not exceed 18 per cent. Currently, Taiwan Semiconductor Manufacturing is the largest company included. The sector focus is on technology, financial and industrial stocks
Asset class: Equity ETF
ISIN: IE000CM02H85
Ongoing charges: 0.19 per cent
Source: Deutsche Börse
March 21, 2022--Since Monday, two ETNs issued by GraniteShares Financial have been tradable on Xetra and via Börse Frankfurt for the first time.
With the two exchange-traded notes (ETNs) from GraniteShares, investors are participating for the first time in the performance of a US stock basket consisting of the Big Five US technology stocks, FAANG. FAANG stands for Facebook, Amazon, Apple, Netflix, and Google, which are equally weighted.
The GraniteShares FAANG ETP tracks positive price performance, while the GraniteShares 1x Short FAANG Daily ETP tracks inverse performance, each with a leverage factor of one.
Asset class: ETN
ISIN: XS2305050556
Management fee: 0.69 per cent
Source: Deutsche Börse
March 18, 2022--ESMA Working Paper No. 1, 2022 Flash crashes on sovereign bond markets-EU evidence.
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Source: ESMA
March 18, 2022--Indxxis pleased to announce their partnership with Minerva Analytics, Europe's independent proxy voting, ESG and stewardship solution. The collaboration allows Indxx to utilize Minerva's environmental, social and governance (ESG) data and research todevelop custom ESG index solutions to meet the growing and global demand for responsible passive investing.
Minerva's offerings draw on the leading regulatory ESG indicators including TCFD, UNGlobal Compact, OECD MNE Guidelines the UN Guiding Principles on Business and Human Rights. Their framework measures both positive and negative impacts of the UN Sustainable Development Goals (SDGs) on portfolios and seamlessly integrates with stewardship, voting and stock-lending strategies.
Source: Indxx
