Global ETF News Older than One Year
DECPG Weekly Global Economic Brief
December 13, 2013--The trend improvement in the credit ratings of developing countries observed during recent years has ended, while the
deterioration among high-income countries has leveled off. An analysis of developing countries' growth for the last decade suggests that cyclical factors played a large role in both the pre-financial crisis and post-crisis periods. Following
improvements to the outlook for grain stocks, international grain prices have declined further.
Credit rating downgrades outnumbered upgrades among developing countries so far in 2013, while ratings have stabilized in high-income countries. The credit ratings of developing countries have been rising relative to those of high-income markets in recent years-with high-income rating downgrades having peaked in 2011 during the Euro Area sovereign debt crisis. At the same time, the pace of improvement in developingcountry ratings has slowed, reflecting a challenging external environment as well as domestic macroeconomic imbalances and structural problems. In 2013, developing-country rating downgrades outpaced upgrades (by 30 to 19) for the first time since 2009. Rising social and political tensions contributed to downgrades in Egypt, Tunisia, and Ukraine, while increased debt distress led to a rating cut for Jamaica. Downgrades in South Africa, El Salvador, Honduras, and Venezuela mainly reflected weakened growth prospects. High budget deficits contributed to downgrades in Ghana and Zambia. High income-country ratings have mostly stabilized as a result of improving fiscal positions and strengthening real-side activity.
Source: World Bank
EPFR Global News Release-Investors showing QE withdrawal symptoms ahead of Fed's mid-December meeting
December 13, 2013--Although the US Federal Reserve has yet to hold their December meeting, investors have been acting as if it has already occurred and a vote to start winding down the current quantitative easing program (QE3) took place.
During the week ending December 11 redemptions from EPFR Global-tracked Bond Funds hit their highest weekly total since late August, investors pulled over $1.6 billion out of both Emerging Markets Equity and Bond Funds and outflows from Commodities Sector Funds climbed to levels last seen in early July while commitments to Floating Rate Bond Funds jumped to a 10 week high.
Overall, Bond Funds posted a collective net outflow of $4.2 billion for the week while Equity Funds absorbed $1.37 billion and Money Market Funds $8.8 billion.
Visit www.epfr.com for more info
Source: EPFR
Thomson Reuters Global Equities Monthly Market Share Data Updated To Reflect November 2013 Activity
December 12, 2013--The Thomson Reuters Monthly Market Share data has been updated to include November data.
Source: Mondovisione
124 Countries Ranked by Ability to Deliver Secure, Affordable and Sustainable Energy
Energy systems of 124 countries ranked according to economic, environmental and energy security indicators
Norway, New Zealand, France and Sweden top the rankings; Colombia and Costa Rica are non OECD countries in top ten
Regional analysis highlights EU28, MENA, BRICS, North America, Sub-Saharan Africa and ASEAN
December 11, 2013-- In support of the global transition to a new energy architecture, the World Economic Forum today released the Global Energy Architecture Performance Index Report 2014.
Prepared in collaboration with Accenture and designed to help countries spur their efforts to meet energy challenges and opportunities in innovative ways, the Index assesses regions and 124 countries according to economic growth, environmental sustainability and energy security performance, analysing the complex trade-offs and dependencies that affect country efforts.
"Resource wealth or economic development alone do not guarantee high performance on the Index" explained Roberto Bocca, Senior Director, Head of Energy Industries, World Economic Forum. "For an effective energy system countries need to focus on all three sides of the energy triangle - environmental sustainability, security of supply and affordability".
view the The Global Energy Architecture Performance Index Report 2014
view the Energy Architecture Performance Index 2014 interactive map
Source: WEF (World Economic Forum)
STOXX introduces Emerging Markets Exposed index for Europe
December 10, 2013--STOXX Limited, a leading provider of innovative, tradable and global index concepts, today introduced the STOXX Europe 600 EM Exposed Index. The new index represents those companies within the STOXX Europe 600 Index that derive a substantial part of their revenues from Emerging Markets countries, thus providing exposure to these growing markets through liquid securities.
The STOXX Europe 600 EM Exposed Index is designed to act both as a proper benchmark for actively managed funds, and as an underlying to exchange-traded funds and other investable products.
"With the launch of the STOXX Europe 600 EM Exposed Index we are applying our innovative EM exposed index concept to our flagship benchmark index," said Hartmut Graf, chief executive officer, STOXX Limited. "The STOXX EM Exposed Indices offer market participants a new way to include Emerging Markets exposure in their portfolios, through an investment into highly liquid Developed Market companies."
Source: STOXX
World Gold Council-Changes in World Gold Official Reserves
December 10, 2013--Shows month by month, how countries' reported gold holdings have changed since January 2002 and reasons where known. Updated quarterly.
Source: World Gold Council
World Gold Council-Latest World Official Gold Reserves
December 10, 2013--Information on each country's gold reserves and the proportion this represents of their total external reserves. Updated quarterly.
Source: World Gold Council
The Extra-territorial Impact of EMIR on Non-EU Swap Counterparties
December 10, 2013--On November 18, 2013, the European Securities and Markets Authority ("ESMA") published its final report on technical standards detailing how the regulation of over-the-counter ("OTC") derivative contracts in the European Union ("EU") will apply to contracts that are entered into or performed outside the EU or involve at least one counterparty that is not organised under the law of an EU Member State (the "November RTS").[1]
Given that derivatives markets are global in nature, firms that use OTC derivative contracts have been continuing to monitor the potential extra-territorial impact of the European Markets Infrastructure Regulations ("EMIR").[2] The November RTS provides international OTC derivative market participants with guidance regarding the circumstances in which OTC derivative contracts outside the EU will be considered to have a "direct, substantial and foreseeable effect" in the EU and thus be subject to EMIR.
Source: K&L Gates
BNY Mellon Launches AIFMD Regulatory Reporting Service
December 10, 2013--BNY Mellon reports that it has launched a new service for fund managers to help them identify, aggregate and manage the regulatory reporting requirements of the Alternative Investment Fund Manager's Directive (AIFMD).
Under AIFMD, Alternative Investment Fund Managers (AIFMs) must file a specifically formatted report with their home member state's supervisory authority, or national competent authority (NCA). The report requirements are extensive and cover aspects of both the fund manager and the fund, such as investment strategies, exposures, portfolio concentration, total value of assets under management, principal markets and instruments in which investments are made, plus detailed information on the funds' risk profile.
Source: globalcustody.net
Vanguard to reign in ETF market?
December 10, 2013--Vanguard has always been something of a category killer. It changed the industry with its index funds way back when. Now, it is bent on shaking up the ETF industry.
Its "category-killing attributes" make it "the Wal-Mart of exchange-traded funds," pronounces Bloomberg.
"Since 2010, its market share has grown from about 15 percent to 20 percent, while that of its big rivals, BlackRock's iShares and State Street's SPDRs, has slightly declined," the article states. "And while all three have gained new assets this year, Vanguard leads with $51 billion, or 32 cents out of every dollar invested in an ETF, up from 28 cents last year.
Source: Fierce Finance
