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db x-trackers baut Produktpalette im Bereich
25. Oktober 2010.- db x-trackers hat 2 neue ETFs im Bereich Eurodenominierte
Unternehmensanleihen an der Deutschen Börse lanciert:
den db x-trackers II iBoxx® € Liquid Corporate 100 Financials Sub-Index Total Return ETF, und
den db x-trackers II iBoxx® € Liquid Corporate 100 Non-Financials Sub-Index Total Return ETF
Die beiden Produkte erweitern die bestehende Palette an db x-trackers EURUnternehmensanleihen ETFs auf nunmehr drei Produkte, die verschiedene
Marktsegmente abbilden. Mit dieser Erweiterung ist db x-trackers der einzige ETF Anbieter in Europa, der ein Produkt ausschließlich auf Anleihen von Emittenten des Finanzsektors offeriert.
Beide ETFs haben eine Pauschalgebühr von 0,20 Prozent p.a. und sind an der Frankfurter Börse (Xetra) handelbar. Die jeweils abgebildeten Indizes werden von der International Index Company Limited berechnet und veröffentlicht und sind Teilindizes des iBoxx EUR Liquid Corporate 100 Index® auf den db x-trackers ETF im März diesen Jahres lanciert wurde1. Der Geschäftssitz der in den Indizes abgebildeten Emittenten spielt keine Rolle.
Das Underlying für den ersten ETF, der iBoxx® EUR Liquid Corporate 100 Financials Sub-Index, bildet unter Berücksichtigung von Neugewichtungskosten2 die Wertentwicklung von auf Euro lautenden Unternehmensanleihen aus dem liquiden Universum auf Euro lautender, von Emittenten aus dem Finanzsektor begebener Unternehmensschuldtitel ab. Die derzeitige Indexrendite beträgt 3,27% bei einer Duration von 3,93 Jahren. Derzeit bildet der Index Unternehmensanleihen von Emittenten in Australien, Dänemark, Frankreich, Deutschland, Irland, Italien, Niederlande, Norwegen, Schweden, der Schweiz, dem Vereinigten Königreich und den Vereinigten Staaten ab.3
Der zweite ETF ist an den iBoxx® EUR Liquid Corporate 100 Financials Sub-Index gekoppelt. Dieser Index bildet unter Berücksichtigung von Neugewichtungskosten4 die Wertentwicklung von auf Euro lautenden Unternehmensanleihen aus dem liquiden Universum auf Euro lautender, von nicht im Finanzsektor tätigen Emittenten begebener Unternehmensschuldtitel ab.
„Diese beiden ETFs ergänzen unsere bereits breit gefächerte Produktpalette auf den Markt für Unternehmenskredite, der sowohl Schuldverschreibungen als auch Kreditabsicherungen umfasst, um zwei interessante Bausteine. Besonders die Auflage des ETFs auf Anleihen von Emittenten des Finanzsektors zeigt erneut die Bereitschaft von db x-trackers noch nicht am Markt erhältliche Produkte zu emittieren um Investoren eine möglichst breit gefächerte Portfolioallokation zu erlauben.“ kommentiert Thorsten Michalik, verantwortlich für db xtrackers.
Wie alle ETFs der db x-trackers Palette werden auch die beiden neuen mit einer innovativen Swap-Struktur ausgestattet mit dem Ziel so die Abweichung zum zugrunde liegenden Index (Tracking Error) auf ein Minimum zu reduzieren. Es ist geplant mit Hilfe der Deutschen Bank als Market Maker die ETFs mit einem Maximum an Liquidität im Sekundärmarkt zu versehen. Im Rahmen des Market Makings wird darauf abgezielt die Preisquotierungen grundsätzlich zuverlässig am fairen Wert des ETFs auszurichten.
Überblick über die neuen db x-trackers ETF
Name:db x-trackers II iBoxx® € Liquid Corporate 100 Financials Sub-Index Total
Return ETF
Währung:EUR
Bloomberg
Ticker: XB4F
ISIN:LU0484968812
Jährliche Pauschalgebühr:0.20%
db x-trackers II iBoxx® € Liquid Corporate 100 Non- Financials Sub-Index Total
Return ETF
Währung:EUR
Bloomberg
Ticker: XB4N
ISIN:LU0484968655
Jährliche Pauschalgebühr:0.20%
1 Die Indizes beinhalten nicht notwendigerweise 100 Anleihen.
2 Bei der Berechnung des Schlussstands des Index am ersten Geschäftstag nach einer solchen Neugewichtung werden fiktiv Neugewichtungskosten in Höhe des 0,002-fachen des Schlussstands am Neugewichtungstag abgezogen.
3 Quelle: Markit, Stand: 19. Oktober 2010. (Wert-)Entwicklungen in der Vergangenheit sind kein verlässlicher Indikator für diekünftige (Wert-)Entwicklung.
4 Bei der Berechnung des Schlussstands des Index am ersten Geschäftstag nach einer solchen Neugewichtung werden fiktiv
Neugewichtungskosten in Höhe des 0,002-fachen des Schlussstands am Neugewichtungstag abgezogen.
5 Quelle: Markit, Stand: 19. Oktober 2010. (Wert-)Entwicklungen in der Vergangenheit sind kein verlässlicher Indikator für die künftige (Wert-)Entwicklung.
Source: db x-trackers
Entry Standard Celebrates Five Years at Deutsche Börse
Entry segment for a total of 165 companies to date / Every tenth company switches at some point to a higher transparency standard
October 25, 2010-- The Entry Standard at Deutsche Börse has developed well as a market segment since its launch on 25 October 2005. It lists 119 companies, the majority of which (87%) are based in Germany, and its market capitalization has grown by 30 percent since 2008.
For SMEs, the Entry Standard is the gateway to the capital market”, said Alexander Höptner, Head of Markets Services. The segment belongs to the exchange-regulated open market and enables equities to be admitted to trading easily, quickly and cost-efficiently.”
Since 2005, 165 companies have used the Entry Standard as a way into the capital market, and 16 of them have since switched to the regulated market, i.e. the General Standard or Prime Standard. “We have structured our market in such a way as to foster corporate development,” said Höptner. “These companies can use the Entry Standard to gain initial experience of the capital market”.
The segment is open to all sectors, yet at present 38 percent of companies come from the financial services sector and 34 percent from the industrial sector. Since 2008, there have been 86 capital increases in the Entry Standard, attracting a total of EUR 300 million. Market capitalization has also increased by 33 percent during this period.
Deutsche Börse, with the help of Deutsches Aktieninstitut, has taken the fifth anniversary of the Entry Standard as an occasion to conduct a comprehensive assessment of this segment among its constituents. The study brings to light that almost two thirds of the companies in the Entry Standard have an equity ratio exceeding 50 percent, three out of four companies have increased their workforce, and two thirds have seen an improvement in their market profile as well as a considerable rise in revenues.
Source: Deutsche Börse
German pension system falls short on sustainability, integrity
October 25, 2010--The German pension system is particularly lacking in the areas of sustainability and member communication, according to Mercer Germany.
The consultancy's German division has drawn its conclusion from the 2010 Melbourne Mercer Global Pension index, in which Germany made it in the C category, with an index value of 54, slightly better than in 2009 when it achieved 48.2.
Peter Doetsch, chief executive at Mercer Germany, said: "The comparatively bad ranking for Germany is down to the fact international systems are not directly comparable because of their particularities."
read more
Source: IP&E
db x-trackers list 24 ETFs on SWX The market maker is Deutsche Bank, London Branch.
Deutsche Bank Lists First Fixed-Income Db X-Trackers In ETF Emissions trading: Questions and Answers concerning the second Commission Decision on the EU ETS cap for 2013 Which new sectors and gases are covered under the extended scope? The EU ETS covers installations performing specific activities. Since its launch in 2005 the system has covered, above certain capacity thresholds, power stations and other combustion plants, oil refineries, coke ovens, iron and steel plants and installations producing cement, glass, lime, bricks, ceramics, pulp, paper and board. As for greenhouse gases, it currently covers only carbon dioxide emissions, with the exception of the Netherlands and Austria, which have opted to include emissions from nitrous oxide ( N2O) emissions from some specific installations. As from 2013, the scope of the ETS will be extended to include other sectors and greenhouse gases. Inter alia, more CO2 emissions from installations producing bulk organic chemicals, hydrogen, ammonia and aluminium will be included, as will N2O emissions from the production of nitric, adipic and glyocalic acid production and perfluorocarbons from the aluminium sector. Installations performing activities which result in these emissions will be included in the EU ETS as from 2013. read more Feedback Statement - CESR Technical Advice To The European Commission In The Context Of The MiFID Review – Client Categorisation (Ref: CESR/10-1045) Bank reforms 'will boost covered bonds' read more ETF-based mutual fund launched in Europe The investment universe, limited to 50 widely traded ETFs from managers such as iShares and db x-trackers, covers a wide variety of asset classes on a global basis, including fixed income, equities and alternative assets like commodities and hedge funds. read more
State Street Global Advisors to acquire Bank of Ireland AM for €57m
Scott Powers, president and chief executive at SSgA, said the deal would allow his company – known chiefly for its passive index-linked funds – to expand its range to include active fundamental management.
"As our clients look for more solutions-driven investment management strategies that span the risk spectrum, the addition of this team and capabilities will enhance our ability to deliver on these needs," he added. read more UK Key Spending Review announcements view the Spending Review 2010 If you are looking for a particuliar article and can not find it, please feel free to contact us for assistace.
October 22, 2010--Deutsche Bank’s db x-trackers launched its first ETFs on fixed-income indices on the SIX Swiss Exchange. Some 24 new products have been listed, as a result of which the segment now comprises a total of 555 ETFs.
The new products are:
db x-trackers II iBoxx € Germany 1-3 Total Return Index ETF
db x-trackers II IBOXX EUR Liquid Corporate 100 Total Return Index ETF
db x-trackers II IBOXX € SOVEREIGNS EUROZONE TOTAL RETURN INDEX ETF
db x-trackers II IBOXX GLOBAL INFLATION-LINKED TOTAL RETURN INDEX HEDGED ETF
db x-trackers II IBOXX EURO INFLATION-LINKED TOTAL RETURN INDEX ETF
db x-trackers II EONIA TOTAL RETURN INDEX ETF
db x-trackers II ITRAXX® EUROPE 5-YEAR TOTAL RETURN INDEX ETF
db x-trackers II ITRAXX® HIVOL 5-YEAR TOTAL RETURN INDEX ETF
db x-trackers II ITRAXX® CROSSOVER 5-YEAR TOTAL RETURN INDEX ETF
db x-trackers II iTraxx® Europe 5-Year Short DAILY TOTAL RETURN INDEX ETF
db x-trackers II iTraxx® HiVol 5-Year Short DAILY TOTAL RETURN INDEX ETF
db x-trackers II iTraxx® Crossover 5-Year Short DAILY TOTAL RETURN INDEX ETF
db x-trackers II Emerging Markets Liquid Eurobond Index ETF
db x-trackers II Short IBOXX € SOVEREIGNS EUROZONE DAILY TOTAL RETURN INDEX ETF
db x-trackers II iTraxx® Europe Senior Financials 5-year TOTAL RETURN INDEX ETF
db x-trackers II iTraxx® Europe Subordinated Financials 5-year TOTAL RETURN INDEX ETF
db x-trackers II iTraxx® Europe Senior Financials 5-year Short Daily TOTAL RETURN INDEX ETF
db x-trackers II iTraxx® Europe Subordinated Financials 5-year Short Daily TOTAL RETURN INDEX ETF
db x-trackers II EURO INFLATION SWAP 5 YEAR TOTAL RETURN INDEX ETF
db x-trackers II IBOXX $ TREASURIES TOTAL RETURN INDEX ETF
db x-trackers II IBOXX $ TREASURIES 1-3 TOTAL RETURN INDEX ETF
db x-trackers II USD IG INFLATION LINKED TREASURIES TOTAL RETURN INDEX ETF
Source: SWX Swiss Exchange
October 22, 2010--Emissions trading: Questions and Answers concerning the second Commission Decision on the EU ETS cap for 2013
What is the EU ETS cap and why are two steps needed to set it?
The EU ETS cap is the total amount of emission allowances to be issued for a given year under the EU Emissions Trading System (EU ETS). Since each allowance represents the right to emit one tonne of CO2 - or an amount of another greenhouse gas giving the same contribution to global warming as one tonne of CO2 - the total number of allowances, i.e. the “cap”, determines the maximum amount of emissions possible under the EU ETS.
In July 2010, the Commission adopted a decision that determined the cap for 2013 based on the current scope of the EU ETS, ie the installations covered in the 2008-2012 period. The second decision, adopted today, takes into account the extended scope of the EU ETS as from 2013.
Source: Europa
October 22, 2010--In the context of its review of the Markets in Financial Instruments Directive (MiFID), the European Commission (EC) posed a series of questions to CESR. The purpose of this consultation is to gather stakeholders' views on client categorisation issues to assist CESR in its responses to the Commission’s questions on these issues.
view Feedback statement-CESR Technical Advice to the European Commission in the context of the MiFID Review – Client categorisation
Source: CESR
October 22, 2010--German regulators say global banking reforms will strengthen the market for high quality corporate bonds because they can be used to meet a large part of worldwide liquidity requirements that take effect in 2015.
The Basel Committee on Banking Supervision, which sets international standards,announced earlier this week that it had worked out “key details” of the new “liquidity coverage ratio” which will force banks to hold enough easy-to-sell assets to survive a 30-day crisis.
Source: FT.com
October 22, 2010--Adepa Asset Management has launched Global ETF Fund (Euro), an independent mutual fund in Europe that exclusively invests in exchange-traded funds.
The fund follows a global tactical asset allocation investment approach, with the aim of providing positive and stable returns over the medium term (three to five years) via tactical asset allocation.
Source: ETF Express
October 22, 2010- – Boston-based State Street Global Advisors (SSgA) is set to acquire Bank of Ireland Asset Management (BIAM) for approximately €57m in cash
BIAM, which has approximately €26bn in assets under management for more than 500 clients, offers a range of global equity, fixed income, cash, asset allocation, property and balanced funds.
Source: IP&E
Otober 21, 2010--Supporting growth, reforming public services and building a fairer society
The Chancellor, George Osborne, has presented the Government’s Spending Review, which fixes spending budgets for each Government department up to 2014-15.
The Spending Review comes at a time when the State is spending significantly more money than it raises in taxation, and is having to meet the gap – called the deficit – by borrowing at record levels. Last year, the Government borrowed one pound in every four that it spent and the UK currently spends £43 billion on debt interest, which is more than it spends on schools in England. >
Source: HM Treasury
