Global ETF News Older than One Year
Implementation of net stable funding ratio and treatment of derivative liabilities
October 6, 2017--At its meeting on 4-5 October, the Basel Committee on Banking Supervision discussed the net stable funding ratio (NSFR) standard and agreed to allow national discretion for the NSFR's treatment of derivative liabilities.
This should facilitate the implementation of the NSFR, which is expected to begin on 1 January 2018.
The NSFR assigns a 20% "required stable funding" factor to derivative liabilities. The Committee has agreed that, at national discretion, jurisdictions may lower the value of this factor, with a floor of 5%.P>view more
Source: BIS
Institutional ETF Trading Survey-Commissioned by Jane Street
October 5, 2017--Commissioned by Jane Street, Risk.net's institutional trading survey provides insight into how over 200 global institutional investors are trading ETFs, the counterparties they work with, and how they evaluate liquidity.
view the Global trends in institutional ETF trading Risk.net Q4 2017 Survey report
Source: Jane Street
CoinShares, the 'BlackRock iShares Equivalent' of Crypto-Finance, Launches
October 5, 2017--Bitcoin is getting even more mainstream. The team behind XBT Provider, issuer of two Bitcoin Exchange Traded Notes (ETNs), and GABI, the first regulated Bitcoin hedge fund, has combined those two entities to launch CoinShares, a product that has $300 million in crypto-assets.
The team behind XBT Provider, issuer of two Bitcoin Exchange Traded Notes (ETNs), and GABI, the first regulated Bitcoin hedge fund, has combined those two entities to launch CoinShares, a product that has $300 million in crypto-assets.
Source: thestreet.com
Three in ten institutional investors make more than 50 ETF trades a month-study
October 5, 2017--Big investors in Europe are executing as many as 50 exchange-traded fund (ETF) deals a month, according to a wide-ranging survey of global ETF trading trends.
The study found that around 30 per cent of institutions traded ETFs more than 50 times a month but that proportion rose to 42 per cent in Europe. By contrast, just over half of Asian fund managers say they trade ETFs 10 or fewer times a month. US investors also used them as a way to shift their asset allocations, it said.
Source: FT.com
WGC-Gold-backed ETF holdings increased by 22.4t in September
October 4, 2017--Regional fund flows
In North America investors added 36.0 tonnes(t) (+$2.5bn, +4.7% AUM) of gold through funds listed in the region
There were outflows in Europe worth 12.0t (-$229mn, -0.57% AUM) over the month
Asia funds lost 1.7t (-$57mn, -1.7% AUM) with most of the region's gold-backed funds losing assets
Individual fund flows
SPDR(R) Gold Shares led flows in September accounting for 60% of gross global inflows while iShares Gold Trust added 5.2% to its AUM
Gold Bullion Securities, listed in London, lost 8.0t (-$312mn,-7.3% AUM)
Two Swiss-related funds had meaningful gains: ETFS Physical Swiss Gold 0.9t (+$44mn, +8.1% AUM, iShares Gold CHF Hedged ETF 0.6t (+$29mn, +8.2% AUM)
Source: World Gold Council (WGC)
OECD Progress on gender equality far too slow
October 4, 2017--Countries need to do much more to close gender gaps worldwide, according to a new OECD report.
The Pursuit of Gender Equality: An Uphill Battle presents a stark call to action, highlighting that very little progress has been made since the 2012 OECD report Closing the Gender Gap Now.
"The pursuit of gender equality must be a priority to achieve sustainable, inclusive growth for the benefit of every citizen," said OECD Chief of Staff and G20 Sherpa Gabriela Ramos at the launch of the report in advance of the Women's Forum taking place in Paris. "There is no reason for women to trail behind men in social, economic, and political outcomes. Countries need to do much more to reach the gender equality goals."
view the The Pursuit of Gender Equality-An Uphill Battle
Source: OECD
BetaShares-Global Market Outlook: Earnings power stocks
October 4, 2017--Supported by ongoing growth in corporate earnings, global equities powered ahead in September, shaking off concerns surrounding North Korea and higher bond yields.
With growth still solid in the US and improving growth in Japan, Europe and Emerging Markets, the global earnings outlook remains positive.
view the BetaShares Global Market Outlook: Earnings power stocks
Source: betashares.com.au
Less than 18 percent of global stocks owned by index investors: BlackRock
October 3, 2017-- Less than 18 percent of the global stock market is owned by index-tracking investors, according to a new estimate from BlackRock Inc (BLK.N), as it suggested that passive investing plays only a limited role in setting equity prices
The estimate on Tuesday showed that $11.9 trillion in stocks were owned by mutual funds, exchange-traded funds, institutional accounts and private investors that track an index.
Source: Reuters
ETF Securities-Investment Insights September 2017 5 Ways Emerging Markets May Boost Commodities
October 3, 2017--Summary
High correlation to emerging markets coupled with rising
investor interest may further drive commodity prices.
Supply may slow further as strengthening emerging market
currencies raise commodity producer costs.
Demand supported by infrastructure and consumer spending.
After suffering through a multi-year malaise, emerging markets (EM) have finally begun to see some life with an improving economic backdrop and corresponding equity rally. While the MSCI Emerging Market Index has risen nearly 30% year to date, commodities have lagged (see Exhibit 1). Yet, given their close relationship with emerging market economies, commodities may realize several tailwinds from this turnaround in emerging markets.
Source: etfsecurities.com
IMF Working papers-Lessons from the Old Masters on Assessing Equity and Efficiency: A Primer for Fiscal Policymakers
October 3, 2017--How can a society's well-being be measured to include not only average incomes but also their distribution? How can the effects of policies be assessed by considering both equity and efficiency?
This primer outlines the seminal contributions of influential economists of the past, including Arthur Okun, who developed a simple method to elicit people’s preferences regarding redistribution, and Anthony Atkinson, who showed how equity and efficiency can be measured simultaneously and summarized in a single, intuitive index expressed in monetary units (such as dollars). These methods are applied to recent data to gauge how countries fare when both mean incomes and their distribution are considered together, and to a hypothetical tax-and-transfer scheme assessed through a general equilibrium model for household-level data.
Source: IMF
