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World Gold Council-Gold-backed ETFs added 22.5t in March
April 5, 2018--Gold-backed ETFs collectively held 2,415t (US$102.8bn) at the end of March after adding 22.5t (US$1.0bn) during the month.
Regional fund flows
Global inflows were dominated by North American-listed funds which added 21.5t (US$917mn, 1.7% AUM) to their holdings during March
Asian funds added assets for the 3rd consecutive month (3.1t, US$141mn, 3.5% AUM)
Funds listed in Europe and other regions had muted net flows
Individual fund flows
SPDR(R) Gold Shares and iShares Gold Trust were the primary drivers of North American and global inflows, accumulating 15.1t (US$642mn, 1.8% AUM), and 5.4t (US$230mn, 2% AUM), respectively, during March
Bosera Gold, in China, continues to dominate Asian flows, adding 1.9t (US$81mn, 17% AUM) on the month
Gold Bullion Securities, in London, continues to lead European and global outflows losing 1.5t (US$61mn, 1.7% AUM) during March
Year-to-date trends
North American funds have accounted for 85% of total net inflows on the year, driven by iShares Gold Trust (27.9t, US$1.2bn, 12% AUM), and SPDR(R) Gold Shares (8.6t, US$396mn, 1.1% AUM)
Asian funds have grown assets by 13.4% through the first quarter, driven almost entirely by Bosera Gold. The fund has grown 40% on the year adding 11t (US$470mn)
Europe has lost its 2017 asset-gaining momentum having slight outflows of 1.2t (US$171mn), highlighted by Gold Bullion Securities which has lost 10.6t (US$467mn, 12% AUM) on the year
IMF Policy Papers-Measuring the Digital Economy
April 5, 2018--Summary:
Digitalization encompasses a wide range of new applications of information technology in business models and products that are transforming the economy and social interactions. Digitalization is both an enabler and a disruptor of businesses.
The lack of a generally agreed definition of the "digital economy" or "digital sector" and the lack of industry and product classification for Internet platforms and associated services are hurdles to measuring the digital economy. This paper distinguishes between the "digital sector" and the increasingly digitalized modern economy, often called the "digital economy," and focuses on the measurement of the digital sector. The digital sector covers the core activities of digitalization, ICT goods and services, online platforms, and platform-enabled activities such as the sharing economy.
view the IMF Policy Papers-Measuring the Digital Economy
ETF Securities-Precious Metals Monitor-March 2018
April 5, 2018--Key Highlights
Gold: Cracks in equity market may boost ETF buying
The return of equity volatility in 2018 continues to push investors to reposition their portfolios. Investors have flocked back to gold as a potential hedge against volatility and particularly have sought shelter through gold exchange traded funds (ETFs).
After hitting a high in December 2012 of 85.8 million ounces globally (worth $142 billion), gold ETFs saw a 76% drawdown in holdings over the next 3 years
hitting a low of 48.7 million ounces held (approximately $52 billion). This drawdown, driven by falling gold prices, pushed many investors to remain underweight gold, a trend which has reversed since 2016. While speculative positions by short term investors has remained volatile for gold, investors who buy gold ETFs are often viewed as more long term strategic holders. March saw inflows of nearly 20 metric
tonnes, placing global gold ETF holdings only 20% below their 2012 peak. Year to date gold ETFs have increased holdings another 2% and steady inflows may continue to support the current trend higher in gold prices.
ETFGI reports assets invested in active ETFs and ETPs listed globally reach record high of 80.0 billion US dollars at the end of February 2018
April 4, 2018--ETFGI, a leading independent research and consultancy firm on trends in the global ETF/ETP ecosystem, reported today that assets invested in active ETFs and ETPs listed globally reached a record high of US$80.0 billion at the end of February 2018; an increase in assets of US$649 million from the previous record of US$79.4 billion set at the end of January 2018. (All dollar values in USD unless otherwise noted.)
Assets invested in actively-managed ETFs/ETPs listed globally increased by $649 Mn during February to reach a new record high of $80.0 Bn
In February 2018, actively-managed ETFs/ETPs listed globally saw net inflows of $2.61 Bn
BetaShares-Global Market Outlook: Testing times
April 4, 2018--Month in Review-Trade tremors
The pull back in global equities continued in March, with the MSCI All-Country Net-Return Index dropping 2.2% after a 3.5% drop in February. On a month-end basis, this Index is now down 5.7% from its January peak, which is still less than the last "correction" of 11.6% between mid-2015 to early-2016.
Two factors weighed most on investor minds last month: further escalation in US President Trump's trade aggression, and fear of crippling regulation across the tech sector in the wake of the Facebook data privacy breaches.
Losses were fairly evenly spread across major regions, though Australia's S&P/ASX 200 under performed, with the gross return index down 3.6%-hurt by further concerns in the banking sector arising from the Royal Commission and weaker iron ore prices denting resource stocks.
Gold heading to $1 400 as Sprott sees 'winnerless' trade war
April 3, 2018--Gold will surge to the highest level in five years if a global trade war breaks out, according to Rick Rule, chief executive officer of Sprott US Holdings, who's been involved in the market for four decades.
Bullion could top $1 400 an ounce in 2018 as escalating trade tensions drive investors to havens and the three-decade bull market in bonds nears an end, said Rule...
Investors nurse $10m losses on LongFin index mistake
April 3, 2018--On February 14, FTSE Russell decided it would include LongFin in its Russell 2000 and 3000 indices, groupings of small and medium-sized companies used as benchmarks for passive investment products, including exchange traded funds.
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Barclays creates post-crisis milestone with 'ringfenced' bank
April 2, 2018-- When Barclays staff left work for the Easter weekend last Thursday evening they were employees at a 328-year-old institution.
But when 30,000 of them return on Tuesday, they will find themselves working for what the boss of its UK business described as "the biggest banking start-up ever..
DECPG Global Weekly
March 30, 2018--TAKING STOCK
U.S. 2017 fourth-quarter GDP growth was revised up; PCE inflation rose in February; consumer confidence fell in March
Euro Area economic sentiment declined in March
Japan's retail sales edged up in February; industrial production rebounded
The U.S. Treasury yield curve flattened as short-term yields rose
Monetary policy easing continued in Sub-Saharan Africa
U.S. 2017 fourth-quarter GDP growth was revised up; PCE inflation rose in February; consumer confidence fell in March. The final reading of U.S. real GDP growth in the fourth quarter of 2017 came in at 2.9 percent (q/q, saar), above the first two readings of 2.6 percent and 2.5 percent, reflecting higher-than-previously estimated consumer spending (Figure 1). For 2017 as a whole, real GDP rose 2.3 percent, compared with 1.5 percent in 2016.
Request Network launches financial applications technology on Ethereum blockchain
March 30, 2018--Request Network, a Y-Combinator backed project, has officially launched a financial applications technology allowing anyone to easily request and send cryptocurrency payments for goods, services, or simply conduct money transfers between friends, family and businesses.
Request Network acts like a management hub to handle invoices, with everything stored on an immutable blockchain ledger to allow for formal accounting and auditing. This opens cryptocurrency invoicing and payments to be used more easily in a business setting.