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db X-trackers listet erste ETFs mit physischer Abbildung des unterliegenden Index
November 13, 2010--db X-trackers, die Plattform der Deutschen Bank für
börsennotierte Indexfonds, hat auf Kundenwunsch erstmals zwei Exchange Traded Funds (ETFs) aufgelegt, die den jeweiligen unterliegenden Index direkt abbilden. Die ETFs zielen darauf ab, die Wertentwicklung des Index vor Gebühren und Aufwendungen abzubilden, indem sie in ein Portfolio liquider Wertpapiere investieren, das alle im Index enthaltenen Wertpapiere oder eine repräsentative Auswahl davon umfasst.
Die ersten beiden Exchange Traded Funds der Deutschen Bank mit direkter
Indexabbildung werden heute an der Deutschen Börse auf Xetra gelistet. Der db xtrackers Global Fund Supporters ETF (DR) bildet die Wertentwicklung des Dow
Jones Global Fund 50 Index to Fight AIDS, Tuberculosis and MalariaSM ab. Der db x-trackers STOXX® Europe Christian Index ETF (DR) bildet die Wertentwicklung des STOXX® Europe Christian Index ab.
Wir werden in Einzelfällen bei entsprechender Kundennachfrage voll replizierende ETFs anbieten, jedoch steht db X-trackers weiterhin ohne Einschränkungen hinter der synthetischen Replikation“, sagt Thorsten Michalik, verantwortlich für db Xtrackers. Beispielsweise werden voll replizierende ETFs nachgefragt, da durch Investments in bestehende Produkte die internen Anlagegrenzen des Investors bereits ausgeschöpft sein könnten. Voll replizierende ETFs können für bestimmte Anlegergruppen unter Umständen steuerliche Vorteile besitzen. Zudem gibt es einzelne Anlegergruppen, deren Anlagerichtlinien den Einsatz von Derivaten in Fonds nicht zulassen. ETFs von db X-trackers mit physischer Indexabbildung tragen die Abkürzung „DR“ für „Direct Replication“ im Namen.
Bei allen bisherigen 160 ETFs wendet db X-trackers die Methode der synthetischenReplikation an. Die Wertentwicklung des Index wird auf der Seite des Swap-Partners Deutsche Bank generiert. Über eine Swap-Vereinbarung wird die Indexrendite getauscht mit der Performance der Wertpapiere im ETF, so dass sich der ETF fast identisch zum unterliegenden Index entwickelt. Das mit dem Swap verbundene Kontrahentenrisiko wird minimiert, indem die Deutsche Bank deutlich unter dem maximalen Kontrahentenrisko von zehn Prozent bleibt oder bei einer Depotbank Wertpapiere als Sicherheit hinterlegt. Nach einer Analyse von Deutsche Bank Index Research, London, wenden rund zwei Drittel aller seit 2009neu aufgelegten ETFs die Methode des synthetischen Indexreplikation an.
Source: db X-trackers
First ETF Covering The Iberian Region Listed On NYSE Euronext Lisbon
December 13, 2010-NYSE Euronext is pleased to announce the listing of the ESAF ETF (Exchange Traded Fund) on the NYSE Euronext Iberian index™.
As a result of its listing and trading on NYSE Euronext Lisbon regulated market, the ESAF NYSE Euronext Iberian ETF offers both retail and institutional investors an economical, flexible, secured and transparent exposure to the returns of 30 Portuguese and Spanish Blue Chip companies.
“The launch of an ETF on the NYSE Euronext Iberian Index™ is proof of the value of this benchmark, while incrementing its quality as a measurer of the performance of the Iberian market”, said Miguel Geraldes, Head of Cash Market & Listing, NYSE Euronext Lisbon. “As a leading Iberian institution, ESAF will play a key role in the expected growth of ETF use in the region,” he added.
“With this new initiative, the ETFs listed on NYSE Euronext now offer access to the Iberian region, providing new investment opportunities to the growing number of users,” said Pedro Fernandes, European Head of ETFs, at NYSE Euronext.
“The launch of this ETF is the recognition of the growing importance that this segment is gaining with the investors. It’s an additional challenge that just confirms innovation as being one of ESAF’s most important growth strategies”, referred Pedro Arbués, Investments Manager at ESAF – Espírito Santo Activos Financeiros.
Source: Euronext
Eurex to Introduce New Pricing Model Effective 1 February 2011
New pricing model shall enhance market quality and encourage volume growth/ Fee reductions in index and equity derivatives will benefit end customers
December 13, 2010-- The international derivatives exchange Eurex will introduce a new pricing model, effective 1 February 2011. The overarching goal is to further increase the attractiveness of the Eurex marketplace by offering incentives for market quality and volume contribution as well as fee reductions in a number of key products.
“The new pricing model is designed to further encourage volumes, enhance order book quality and attract new customers. Our new model will help fuel growth in trading volumes across key product segments,” said Andreas Preuss, CEO of Eurex.
The enhancement of order book trading shall support market transparency and price discovery. To achieve this goal, the highest proportion of incentives will be given to market makers in exchange for providing value to the order book. Additionally, the two current market making schemes will be further differentiated to reward market makers according to their market quality contributions.
Members who provide significant trading volume will benefit from modified rebate schemes for both futures and options products.
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Source: Eurex
Dow Jones Indexes And The Global Fund Launch The Dow Jones Global Fund 50 Index
December 13, 2010--- Dow Jones Indexes is launching a new index, in collaboration with the Global Fund to Fight AIDS, Tuberculosis and Malaria, which will help generate resources for the Global Fund’s work.
The Dow Jones Global Fund 50 Index measures the performance of the largest companies that support the mission of the Global Fund. A portion of revenues generated through the licensing of the index will go to the Global Fund.
The Dow Jones Global Fund 50 Index is the flagship of a new index series, which will include indexes with overlaying strategies and additional themes. The index has been licensed to db X-trackers, the leading ETF platform of Deutsche Bank, to serve as a basis for a financial product, the db x-trackers Global Fund Supporters ETF. The ETF begins trading today on the Frankfurt stock exchange.
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Source: Dow Jones Indexes
db X-trackers listet ersten ETF auf einen christlich orientierten Index: STOXX Europe Christian Index
December 13, 2010--db X-trackers, die Plattform der Deutschen Bank für
Exchange Traded Funds (ETFs), hat den ersten ETF aufgelegt, der einen christlich orientierten Index abbildet. Der db x-trackers STOXX® Europe Christian Index ETF (DR) bildet den gleichnamigen Index ab, in dem Unternehmen nach christlichen
Kriterien ausgewählt wurden.
Der STOXX® Europe Christian Index misst die Wertentwicklung ausgewählter Titel
aus dem STOXX® Europe 600 Index, der seinerseits rund 95 Prozent der frei
handelbaren Marktkapitalisierung der 18 wichtigsten Börsen Europas repräsentiert. Für den Index werden nur Aktien von Unternehmen ausgewählt, die nach Angaben von Stoxx Ltd. mit den Werten und Prinzipien des christlichen Glaubens vereinbar sind. Ausgeschlossen sind danach Unternehmen, die in den Bereichen Pornografie,
Geburtenkontrolle, Waffen sowie Glücksspiel engagiert sind. Um die Qualität des Index und die Integrität der im Index enthaltenen Unternehmen gewährleisten zu können, wurde eine unabhängige Kommission gebildet, die über die Qualitätskriterien wacht. Die Kommission setzt sich aus Experten der Christian Brothers Investment Services Inc. sowie weiteren Investmentspezialisten
zusammen. Aktuell enthält der STOXX® Europe Christian Index 545 Titel.
„Der db x-trackers STOXX® Europe Christian Index ETF (DR) ist eine sinnvolle Ergänzung unserer Produktpalette und erweitert die Kriterien der Auswahl von Indexmitgliedern um eine ethische Komponente“, sagt Thorsten Michalik, verantwortlich für db X-trackers. „Wir wissen, dass für viele Investoren ethische Aspekte mit der Kapitalanlage verknüpft sind.“
„Der STOXX Europe Christian Index bietet eine breite Abdeckung von europäischen Unternehmen, die umweltbewusst sowie ethisch und sozial verantwortungsvoll handeln und sich damit in Übereinstimmung mit christlichen Werten befinden“, sagt Hartmut Graf, Chief Executive Officer (CEO) von STOXX® Limited. „Durch die Lizenzierung des STOXX Europe Christian Index bietet die Deutsche Bank den ersten ETF, der auf dem Index basiert.“
Im Unterschied zu allen anderen bisher aufgelegten db X-trackers ETFs zielt der db x-trackers STOXX® Europe Christian Index ETF (DR) darauf ab, die Wertentwicklung des Index direkt abzubilden, indem er in ein Portfolio liquider Wertpapiere investiert, das alle im Index enthaltenen Wertpapiere oder eine repräsentative Auswahl davon umfasst. ETFs von db X-trackers mit physischer Indexabbildung tragen die Abkürzung „DR“ für „Direct Replication“ im Namen. Auch weiterhin wird db X-trackers in den weit überwiegenden Fällen die Methode der synthetischen Indexreplikation anwenden, bei der die Indexrendite über eine Swap- Vereinbarung mit der Deutschen Bank dargestellt wird. Nur in Einzelfällen werden bei entsprechender Kundennachfrage – wie beim db x-trackers STOXX® Europe Christian Index ETF (DR) – voll replizierende ETFs angeboten.
db x-trackers STOXX® Europe Christian Index ETF (DR) : Auf einen Blick
Name:db x-tracker STOXX ®
Europe Christian Index
ETF (DR)
Fondswährung: EUR
Bloomberg Ticker: XECD
ISIN:E00B3QWFQ10
Jährliche
Pauschalgebühr: 0,40%
Index Bloomberg Ticker: SXCHP
Source: db X-trackers
Capital inflows to Turkey spur rate cut plan
December 13, 2010--Turkey’s central bank is considering cutting interest rates in an attempt to stem excessive capital inflows, even though its economy will be one of the world’s fastest-growing this year.
Erdem Basci, central bank deputy governor, said strong capital inflows, fuelled by quantitative easing in developed economies, could create asset bubbles in emerging economies. The best response would be to cut interest rates gradually, while using other tools to restrain domestic banks’ loan growth, he argued.
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Source: FT.com
OECD warns eurozone on debt
December 13, 2010--Eurozone nations are enjoying a sustained if muted recovery but need to adopt tough measures to correct economic imbalances and must soon begin to cut their massive debt loads, the OECD said Monday.
The eurozone should also put in place a permanent crisis resolution mechanism that would force nations to carry out reforms to get aid, the OECD said, an issue European leaders are expected to tackle at a summit later this week.
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Source: EUbusiness
Eurozone bond would cost Germany EUR 17bn: report
December 13, 2010--- Issuing a common eurozone bond would cost Germany at least 17 billion euros (22 billion dollars) more per year, the daily Frankfurter Allgemeine Zeitung (FAZ) said on Monday.
The newspaper did not cite the source for its figure but said Chancellor Angela Merkel "could count on it" during a European Union summit meeting in Brussels later this week.
Merkel is staunchly opposed to a proposal by Eurogroup chairman Jean-Claude Juncker of Luxembourg to issue common eurozone bonds, an idea backed by several countries in southern Europe.
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Source: EUbusiness
db x-trackers launches ETF to help finance the fight against Aids, tuberculosis and malaria.
December 13, 2010-- In a global first for the exchange-traded funds (ETFs) industry, Deutsche Bank’s ETF platform, db x-trackers, has launched a socially-conscious ETF to help finance the fight against Aids, tuberculosis and malaria.
The db x-trackers Global Fund Supporters ETF, which tracks the Dow Jones Global Fund 50 Index to Fight AIDS, Tuberculosis and Malaria(SM), launched today on the Frankfurt Stock Exchange.
The index tracks the performance of the largest public companies that support the mission of the Global Fund. db x-trackers’ management revenues in respect of the Global Fund Supporters ETF, after costs for running the fund, will go towards the Global Fund, a unique global public/private partnership dedicated to attracting and distributing resources to prevent and treat HIV/Aids, tuberculosis and malaria. To date, the Global Fund has committed US$19.8 billion in 149 countries to support large-scale prevention, treatment and care programs. “By making the Dow Jones Global Fund 50 Index available in ETF format we have made it truly investable. We fully support the Global Fund and its efforts to combat these terrible diseases, and are happy to direct profits from this new product to their cause,” said Thorsten Michalik, global head of db x-trackers. “We’ve seen a massive uptake in our ETFs since we launched in 2007. With ever increasing numbers of investors embracing the products, and with more of those investors wishing to invest along socially-conscious lines, we are confident that the db x-trackers Global Fund Supporters ETF will be a success.” The Dow Jones Global Fund 50 Index emerged from a collaboration between leading index provider Dow Jones Indexes and the Global Fund. “The collaboration with Deutsche Bank is an example of innovative financing that can benefit investors and serve humanitarian purposes,” said Prof. Michel Kazatchkine, Executive Director of the Global Fund. “With Deutsche Bank the Global Fund is showing that it is possible to do well and to do good at the same time.”
The Global Fund Supporters ETF uses physical replication to track its index. This is a first for db x-trackers (see additional press release), which traditionally replicates indices using a swap-based – also commonly referred to as synthetic – replication method. However, if clients, due to investment restrictions or tax treatments, request the physical replication method, then db x-trackers can replicate those ETFs physically. This is the case with the Global Fund Supporters ETF.
Source: db x-trackers
db x-trackers launches first Christian-oriented ETF.
December 13, 2010-- db x-trackers, Deutsche Bank’s exchange-traded funds (ETF) platform, has launched the world’s first ETF for Christians who wish to invest in line with their faith.
The db x-trackers STOXX ® Europe Christian Index ETF (DR) tracks the performance of a basket of stocks selected to comply with the values and principles of Christianity. Companies are chosen from the broader STOXX ® Europe 600 Index, with suitability for inclusion determined by an independent Christian faith commission. Companies active in certain areas, such as the arms trade or gambling for example, are excluded from the index. “The db x-trackers STOXX ® Europe Christian Index ETF (DR) is a meaningful addition to our product range, giving faith and ethics-driven investors the flexibility to invest in line with their beliefs,” said Thorsten Michalik, Global Head of db x-trackers. “The STOXX® Europe Christian Index offers a broad coverage of European companies that act in an ethically and environmentally conscious and socially responsible manner and thus are in line with Christian values,” said Hartmut Graf, Chief Executive Officer of STOXX ® Limited. “By licensing the STOXX® Europe Christian Index, Deutsche Bank offers the first ETF based on the index.”
Unlike previously launched db x-trackers ETFs, the db x-trackers STOXX ® Europe Christian Index ETF (DR) aims to replicate the performance of its underlying index by directly investing in a portfolio of liquid securities. db x-trackers ETFs utilising physical index replication bear the abbreviation "DR", for "Direct Replication", in their name. The vast majority of db x-trackers’ products use a swap-based – also known as synthetic – index replication method. However, in certain cases where, for tax purposes or for the purposes of meeting particular internal investment requirements, customers specifically ask for the direct physical replication method, then db x-trackers can accommodate those wishes. This is the case with the db x-trackers STOXX ® Europe Christian Index ETF (DR).
Source: db x-trackers
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