Global ETF News Older than One Year
Renaissance Capital Most Active IPO Market in Three Years
June 28, 2018--More companies went public in the 2Q18 than any quarter in three years, with 60 IPOs raising $13.1 billion. Quarterly proceeds exceeded every quarter during 2015-2017. Small-cap health care companies, mostly biotechs, made up over 40% of all IPOs.
Technology stole the show, averaging a stellar 61% average return, and boosting the quarterly average gain to 29%. Spotify's successful direct listing in April paved the way for a stampede of unicorns, but there were no indications that its untraditional listing process was going to find imitators. Venture capital-backed growth names like DocuSign and Pluralsight were joined by several large tech companies with private equity backing. By far the quarter's largest IPO came from insurance spin-off AXA Equitable, which raised $2.7 billion.
Source: Renaissance Capital
World Economic Forum-Financial Institutions Pressed to Support Businesses Tackling Deforestation as Governments Worldwide Tighten Land-Use Policies
June 28, 2018--Banks, lenders and investors in a $941 billion industry risk exposure from commodities linked to illegal or unsustainable deforestation-a major cause of climate change
New report urges financial institutions to support efforts to remove deforestation from value chains as business and governments tighten policies on agriculture and land-use.
The Roadmap to Financing Deforestation-Free Commodities report shows how financial institutions must adapt to a changing regulatory and market landscape post-Paris Agreement.
view the World Economic Forum The Roadmap to Financing Deforestation-Free Commodities report
Source: World Economic Forum (WEF)
The World Federation of Exchanges publishes revised ESG Guidance & Metrics
June 27, 2018--The World Federation of Exchanges ("WFE"), the global industry group for exchanges and CCPs, has today published a revised edition of its Environmental, Social & Governance (ESG) Guidance & Metrics.
​Developed by the WFE's Sustainability Working Group and first published at the end of 2015, the WFE's ESG Guidance & Metrics are designed to provide a reference point for exchanges looking to introduce, improve or require ESG reporting in their markets.
Since its publication, over 35 stock exchanges around the world have issued or committed to issuing ESG reporting guidance for their listed companies.
Today's revised version seeks to update the 2015 document by:
Recognising intervening sustainability developments, such as the UN Sustainable Development Goals and the Task Force on Climate Related Financial Disclosures (TCFD) Recommendations;
Incorporating feedback received from investor groups on the initial WFE Guidance & Metrics document;
Adjusting the metrics based on implementation experience in certain markets:â—¦There are now 30 baseline metrics (33 in 2015) that form the revised guidance, covering indicators across a range of ESG categories, such as: emissions intensity; climate risk mitigation; gender pay ratio; human rights; ethics and anti-corruption; and disclosure practices.
view the WFE ESG Guidance and Metrics Revised June 2018
Source: World Federation of Exchanges ("WFE")
World Gold Council-Gold and climate change: An introduction
June 27, 2018--Gold is rare and, as with other precious metals, a lot of ore is mined and processed to produce small amounts of pure metal. The gold production process therefore uses a relatively high level of energy to bring finished gold to market and has a higher greenhouse (GHG) emissions intensity per tonne of finished product than many other bulk metals.
But the relatively small volumes of gold produced each year mean total emissions from newly-mined gold are significantly lower than from other major products sourced primarily from mining, such as steel, aluminium and coal.
Source: World Gold Council (WGC)
DECPG Global Monthly-June 2018
June 27, 2018--Overview
After reaching 3.1 percent in 2017 and 2018, global growth is expected to moderate as global economic slack dissipates, some major central banks remove policy accommodation, and the recovery in commodity exporters matures.
The recovery in regions with a large number of commodity exporters is expected to continue this year, but per capita income growth remains low in many countries.
The risks of disorderly financial market movements and escalating trade protectionism have increased in 2018.
Special Focus: Long-term Growth Prospects: Downgraded No More?
Consensus forecasts for long-term growth have recently stabilized after a series of downgrades since 2010.
Although this development could be a sign that the global economy is experiencing a healthy expansion, long-term forecasts are often overly optimistic.
These forecasts are still above potential growth estimates, and adverse structural forces continue to overshadow long-term growth prospects.
Source: World Bank
Autonomous Vehicles Will Clog City Centres unless Lawmakers Step Up, Says Boston Study
June 27, 2018--Shared autonomous vehicles will reduce the number of cars and overall travel times in cities but potentially worsen traffic and increase travel times in downtown areas, a World Economic Forum study suggests
To avoid pockets of increased congestion caused by switching from mass transit, state and local lawmakers must put forth policies and incentives that maximize the benefits of autonomous vehicles
Source: World Economic Forum
Investor Confidence Declined in June by 2.1 Points to 101.7
June 26, 2018--State Street Global Exchange today released the results of the State Street Investor Confidence Index(R) (ICI) for June 2018.
The Global Investor Confidence Index decreased to 101.7, down 2.1 points from May's revised reading of 103.8. The decline in sentiment was driven by a 10.8 drop in the European ICI to 90.8 along with the 0.8 point decrease in the Asian ICI to 102.6. By contrast, the North American ICI rose by 0.8 points to 105.7.
Market movers are not hiding their intentions to bring the crypto back to higher peaks, despite the naysayers and regardless of the dangers.
Source: AME Info
Advisers still think ESG strategies underperform
Despite mounting evidence to the contrary, performance worries still keep advisers from implementing investment strategies that take into account environmental, social and governance concerns.
Source: investmentnews.com
IBOR Global Benchmark Transition Report-IBOR Global Benchmark Transition Report
There are now real concerns about the sustainability of certain IBORs due to a significant decline in activity in the unsecured bank funding market that they are supposed to represent. Given the limited number of actual transactions, and with banks reluctant to provide submissions based on judgement, the viability of certain IBORs is now in doubt. view the IBOR Global Benchmark Transition Report
Source: ISDA
June 25, 2018--Concerns about such investments' performance persist despite mounting evidence to the contrary
June 25, 2018--Interbank offered rates (IBORs) play a central role in financial markets, and act as reference rates to hundreds of trillions of dollars in notional amount of derivatives and trillions of dollars in bonds, loans, securitizations and deposits. The dependence on IBORs by all sectors of the financial markets is changing, however.
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