Global ETF News Older than One Year
Funds With $100 Billion May Be Too Big to Fail, FSB Says
January 9, 2014--Investment funds that manage more than $100 billion in assets may be labeled too big to fail, global regulators said, as they seek to expand financial safeguards beyond banks and insurers.
Hedge funds with trading activities exceeding a set value of $400 billion to $600 billion would also be assessed by national authorities to gauge whether they need extra rules because their collapse could spark a crisis, the Financial Stability Board said in a statement yesterday.
Source: Bloomberg
Euronext bolsters senior management ahead of summer listing
January 9, 2014--European exchange operator Euronext, now owned by U.S. group IntercontinentalExchange (ICE.N), made several senior appointments on Thursday to strengthen its leadership ahead of a stock market listing later this year.
Euronext, which operates exchanges in Paris, Amsterdam, Brussels, London and Lisbon, named Anthony Attia, formerly senior vice president and chief of staff to Euronext Chief Executive Dominique Cerutti, as chief executive of Euronext Paris.
Source: Reuters
Zywot gets BNY Mellon MD role
January 9, 2014--The head of CIBC Mellon's securities lending trading desk gets new position
Phil Zywot has been appointed to managing director of securities finance at BNY Mellon following the 2013 merger of its securities lending desk with that of Canadian bank CIBC Mellon, Global Investor/ISF has learned.
Zywot was most recently vice president and head of trading on CIBC Mellon's securities lending desk.
A spokesperson for CIBC Mellon confirmed the appointment, stating that Zywot will be responsible for Canadian securities finance within BNY Mellon's Global Collateral Services business.
Source: globalinvestor.com
Record outflows from commodity ETPs in 2013 as investors dump gold
Record $42.9 bln withdrawn globally in 2013-BlackRock
Gold ETPs account for over 90 pct of outflows
December outflows for commodity ETPs at $5.4 bln
January 9, 2014--Commodity exchange traded products (ETPs) suffered their worst
year on record in 2013 as investors dumped their gold holdings and joined the equity rally, data
from BlackRock showed.
A whopping $42.9 billion was withdrawn from commodity ETPs in 2013, with gold ETPs accounting for $40 billion of those outflows, asset manager BlackRock said. The SPDR Gold ETP lost $25 billion, the single biggest ETP outflow in 2013.
Source: Reuters
Global food prices steady in December, 2013 prices third highest on record-UN agency
January 9, 2014-For the second consecutive month, the cost of food worldwide remained nearly unchanged in December, with overall global food prices for 2013 among the highest on record, the United Nations food agency today reported.
In a news release, the UN Food and Agriculture Organization (FAO) said its most recent Food Price Index averaged 206.7 points, nearly the same as the 206.4 in November.
Source: UN
Thomson Reuters-Global Conduct Risk Survey Report
January 9, 2014--The aftermath of the financial crisis sparked significant changes in the approach taken toward financial services regulation around the world. Regulators' attention and resources are now centered on the behavior of firms and how they conduct their business.
To support the financial services industry in its management of conduct risk, and enable firms to benchmark their own practices against global peers, Thomson Reuters Accelus has undertaken its first survey dedicated to finding out how the industry is defining and dealing with conduct risk.
The responses received covered the Americas, Africa, Asia, Australasia, Europe and the Middle East, and represented firms from across the financial services sector, including banks, insurers and fund managers.
Source: Thomson Reuters
Traders Say Emerging Markets' Loss Has Been Spain and Italy’s Gain
January 9, 2014--Stock markets in Spain and Italy have started the year on a firm footing even as emerging markets struggle.
Traders say the Southern European markets are benefiting from money flowing out of the developing world, particularly as money managers appear reluctant to buy U.S. stocks at or near their all-time highs.
Source: Wall Street Journal
DECPG Weekly Global Economic Brief
January 9, 2014--Markets reaction to the announcement by the the US Federal Reserve on December 18th of a gradual unwinding of its quantitative easing program has been muted so far. Currencies and stock markets in developing countries remained mostly stable, with a few exceptions where country-specific factors played a role.
Capital flows to developing countries have rebounded since September, after earlier tapering expectations caused a significant rebalancing of global portfolios. Business sentiment indicators for December suggest a continued improvement in global economic activity.
The US Federal Reserve started to taper off its unprecedented monetary stimulus in early January, but financial markets have remained broadly calm. Market reaction has been muted since the announcement on December 18 that tapering of US quantitative easing would start in January. US 10-year bond yields are up only 12 basis points, to 2.97 percent, since December 18(compared to a 80 bps increase between late May and August of 2013 following initial tapering expectations), and the S&P500 stock index is 1 percent higher.
Source: World Bank
Deutsche funds unit names head of research
January 9, 2014--Deutsche Asset & Wealth Management (DeAWM) has hired Philip Poole as head of Research.
The new role will see Poole leading research activity across DeAWM's investment platform globally. With responsibility for macro research, he will make a key contribution to the house view generated by DeAWM's chief investment office.
Source: FTSE Global Markets
Chinese Investment in U.S. Doubles to $14 Billion in 2013
January 8, 2014--Chinese companies are on a North American buying spree, investing $14 billion in the U.S. last year, a record high, says a new report by New York's Rhodium Group.
"Chinese investment in the United States doubled in 2013, driven by large-scale acquisitions in food, energy and real estate," write analysts Thilo Hanemann and Cassie Gao in "Chinese FDI in the U.S.: 2013 Recap and 2014 Outlook,," released on Jan. 7.
Source: BusinessWeek
