Global ETF News Older than One Year
Financial Secrecy Index
November 7, 2013--Introduction--The Financial Secrecy Index ranks jurisdictions according to their secrecy and the scale of their activities. A politically neutral ranking, it is a tool for understanding global financial secrecy, tax havens or secrecy jurisdictions, and illicit financial flows.
The index was launched on November 7, 2013.
Shining light into dark places
An estimated $21 to $32 trillion of private financial wealth is located, untaxed or lightly taxed, in secrecy jurisdictions around the world. Illicit cross-border financial flows add up to an estimated $1-1.6 trillion each year. Since the 1970s African countries alone are estimated to have lost over $1 trillion in capital flight, dwarfing their current external debts of 'just' $190 billion and making Africa a major net creditor to the world.
Source: www.financialsecrecyindex.com
Britain controls largest financial secrecy network - index
November 7, 2013--Britain controls either directly or indirectly a web of financial jurisdictions that makes it "the most important player in the financial secrecy world", according to an index by a financial secrecy watchdog released on Thursday.
Switzerland is the worst-ranked country, first in the Tax Justice Network’s 2013 Financial Secrecy Index and 21st, when overseas territories and crown dependencies are taken into account, easily tops the index, the watchdog said.
Source: Thomson Reuters
S&P Dow Jones Indices Announces 2014 Weights for the S&P GSCI(R)
Along With Current Action Plan for the Pending Change of Gas Oil to Low Sulfur Gas Oil
November 7, 2013--S&P Dow Jones Indices today announced the composition and weights for the 2014 S&P GSCI(R). The S&P GSCI is a world production-weighted commodity index which, in 2014, will be composed of 24 exchange-traded futures contracts on physical commodities across five sectors including: energy, industrial metals, precious metals, agricultural and livestock.
There will be no substantive modifications or new contracts added to or removed from the S&P GSCI for 2014. The weights of the 2013 S&P GSCI(R) along with the 2014 target weights are provided in the tables below. The 2014 weights become effective with the January 2014 roll period. Please refer to the attached spreadsheet for the 2014
Source: S&P Dow Jones Indices
BlackRock Research-ETP Landscape-October 2013-Washington drama drives ETP flows
November 7, 2013--Global ETP flows reached $32.9bn in October as the US debt ceiling was raised and the likelihood of Q4 Fed tapering faded under continued signs of slow US economic growth.
The combination of these factors plus additional signs of modest growth in Europe helped to boost flows into Developed and Emerging Markets Equities.
The industry saw $24.3bn of inflows since October 17th, demonstrating investors were waiting for a resolution to the drama in Washington to move back into the market.
Year-to-date flows of $194.2bn remain on pace with last year's record level, a strong proof point for the secular growth of the industry during what has been a volatile year.
Source: BlackRock ETP Landscape Research
MSCI reclassifies stocks in emerging, frontier market indexes
November 7, 203--Equity index provider MSCI on Thursday reclassified equities across a broad spectrum of emerging, developed and frontier markets as part of its November semiannual index review.
The changes will be made effective as of the close of business on November 26, MSCI said in a statement.
Source: Reuters
ESMA and EBA consult on complaints handling guidelines for the investment and banking sectors
The proposed Guidelines will build on the existing guidelines on complaints handling by insurance undertakings published by the European Insurance and Occupational Pensions Authority (EIOPA) in June 2012. The consultation runs until 7 February 2014.
Consumers in the EU can purchase, and firms can offer, financial services and products in the banking, investment and insurance sectors across the EU. In order to increase market confidence of all participants, the Joint Committee of the three European Supervisory Authorities (ESAs) is seeking to develop a harmonised approach to handling complaints. The three ESAs are doing so through guidelines that, once adopted, would apply equally across all 28 Member States and will be the same for all three sectors of financial services.
Source: ESMA
China grants U.S. investors indirect access to stocks
China's securities and foreign-exchange regulators recently gave joint approval for Bosera Asset Management Co. and Harvest Fund Management Co. to sell exchange-traded funds linked to China's yuan-denominated A shares in the U.S., said the person, who declined to be named
Source: MarketWatch
China seeks world role for 'people's money'
The most attention-grabbing reform planned for Shanghai's new free trade zone is free convertibility of the yuan-also known as the renminbi, or "people's money"- an unprecedented change which would allow greater use of the currency.
Source: FIN24
Market Vectors China ETF (PEK) Seeks Direct A-Share Exposure Through RQFII Subadvisor
The sub-advisor expects to receive its Renminbi Qualified Foreign Institutional Investor (“RQFII”) quota soon which, pending approval by the Board of Trustees of Market Vectors ETF Trust, would allow PEK to have direct access to physical A-Shares and provide enhanced access to the Chinese equity markets.
Source: Market Vectors ETF
Turkish lira, Russian rouble bonds to join Barclays Global Index
Being part of a widely-used index tends to bring in cash because investment funds tracking the index will have to make room in their portfolios for the bond or stock in question.
Source: Todays Zaman
November 6, 2013--The European Securities and Markets Authority (ESMA) and the European Banking Authority (EBA) have jointly launched a consultation on guidelines for complaints handling in the securities and markets sectors.
November 6, 2013--China has approved two domestic fund managers to offer products in the U.S. that for the first time would give investors there indirect access to shares traded in Shanghai and Shenzhen, a significant move to further open the country's capital markets and globalize its currency, a person with direct knowledge of the matter said Thursday.
November 6, 2013--With deals from London to Singapore, China is seeking a greater role for its yuan currency in global markets to challenge the hegemony of the almighty dollar.
First-of-its-kind ETF has longest track record in its investment category and expects to incorporate physical-based exposure to Chinese equities
November 6, 2013--Van Eck Associates Corporation is currently negotiating with a China-headquartered asset manager to serve as sub-advisor for the Market Vectors(R) China ETF (NYSE Arca:PEK(R)), it was announced today.
November 6, 2013--Russian and Turkish local currency bonds may receive billions of dollars in capital inflows after their inclusion into a flagship global index, a vote of confidence for markets that are just recovering from a bruising summer selloff.
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