Global ETF News Older than One Year
BIS-Systemically important banks: Basel Committee publishes implementation assessments on frameworks
June 16, 2016--The Basel Committee on Banking Supervision has published today reports assessing the implementation of the Committee's frameworks for global and domestic systemically important banks (G-SIBs and D-SIBs).
The Committee has evaluated the G-SIB and D-SIB frameworks in the five jurisdictions that are currently home to G-SIBs: China, the European Union, Japan, Switzerland and the United State. This is the first assessment to be conducted on a cross-jurisdictional basis, with these five jurisdictions being simultaneously assessed against the Basel framework.
Source: BIS
China's A-Shares Denied MSCI Inclusion-Again
June 15, 2016--China's domestic equities were denied entry into MSCI Inc.'s benchmark indexes for a third time, a setback for President Xi Jinping's efforts to raise the profile of mainland markets and turn the yuan into an international currency.
Policy makers need to make additional improvements to the accessibility of the A share market, according to a statement from the index compiler on Tuesday. MSCI, whose emerging-market index is tracked by investors with $1.5 trillion in assets, said it will reconsider inclusion in its 2017 review, while not ruling out an earlier announcement.
Source: Bloomberg
The Wolves of Wall Street: Managerial Attributes and Bank Business Models
June 15, 2016---Abstract
We investigate the role of executive-specific attributes (or 'styles') in explaining bank business models beyond pay-per-performance incentives. We decompose the variation in business models and document that the 'style' of members of a bank's top management team is reflected in key bank policy choices.
Manager styles far outrank executive compensation and other observable manager variables in terms of their ability to describe variation in bank business models. Bank manager styles also explain differences in risk and performance across banks. Finally, we combine manager styles from various bank policies to derive manager profiles that are associated with manager's personal risk preferences, board characteristics and whether or not managers will be appointed as CEO during their careers.
Source: sascha-steffen.de
Global ETF Market To Double In Size Over Next Five Years, According to Institutional Investors
June 15, 2016--New research1 commissioned by Source, one of the-largest providers of Exchange Traded Funds (ETFs) in Europe, reveals that, on average, institutional investors predict the global ETP market will double in size over the next five years to account for 6% of global investment fund assets under management (AUM).
ETFs/ETPs currently account for around $3.137 trillion2 (3%) of AUM held in investment funds globally.
Significantly, just 2% of respondents expect the market to shrink in terms of assets under management while 6% believe that assets in ETPs will grow to between 11-15% of the total investment fund market.
Source: www.globalbankingandfinance.com
Not falling short: The rise of inverse ETFs
June 15, 2016--Investors are increasingly attracted to exchange-traded funds that take a directional view
Source: Financial News
Shorting the Climate: Fossil Fuel Finance Report Card 2016
June 15, 2016--In the past three years, the North American and European commercial and investment banking sector has engaged in fossil fuel financing practices that are deeply at odds with the global climate agreement reached at COP 21 last December.
The Paris Climate Agreement's target of limiting warming to 1.5°C (or, at most, 2°C) above pre-industrial levels will require a rapid decarbonization of the global energy system. Distressingly, levels of fossil fuel financing by major North American and European banks between 2013 and 2015 are incompatible with these climate stabilization targets...
view the $horting the Climate: Fossil Fuel Finance Report Card 2016
Source: priceofoil.org
IEA releases Oil Market Report for June
June 14, 2016--Unexpected supply cuts and outages in North America, Africa and South America dampen global production forecasts
Outages in OPEC and non-OPEC countries cut global oil supply by nearly 0.8 mb/d in May. At 95.4 mb/d, output stood 590 kb/d below a year earlier-the first significant drop since early 2013. Non-OPEC supply growth is expected to return in 2017 at a modest 0.2 mb/d, after declining by 0.9 mb/d in 2016, the newly released IEA Oil Market Report (OMR) for June informs subscribers.
Source: IEA (International Energy Agency)
Citi, Deutsche and JPMorgan censured for backing fossil fuel
June 14, 2016--Citigroup, Deutsche Bank and JPMorgan Chase have delivered billions of dollars in financing for coal, oil and gas companies that is "deeply at odds" with the goals of the Paris climate change accord, according to a study.
Source: FT.com
OPEC Monthly Oil Market Report June 2016
June 13, 2016--Oil market highlights
Crude Oil Price Movements
The OPEC Reference Basket averaged $43.21/b in May, representing a gain of $5.35 over the previous month. ICE Brent ended up $4.31 at $47.65/b, while Nymex WTI rose $5.67 to $46.80/b. The ICE Brent-Nymex WTI spread narrowed significantly to 85¢/b in May from
$2.21/b the month before.
World Economy
World economic growth is forecast at 3.1% for this year, after estimated growth of 2.9% the year before, both unchanged from the previous month. OECD growth in 2016 remains at 1.9%, slightly below the 2.0% seen in 2015.
The forecast for the major emerging economies remains unchanged. China and India continue to expand this year at a considerable level of 6.5% and 7.5%, respectively. Brazil and Russia, however, are forecast to remain in recession this year, contracting by 3.4% and 1.1%, respectively.
Source: OPEC
'Godfather' attacks smart beta again
June 12, 2016--Rob Arnott, pioneer of the strategy, says the underlying ideas behind many are 'nonsense'
Source: FT.com
