Global ETF News Older than One Year
ETF Securities Research-PGMs Update-Platinum: In Need of a Catalyst
August 8, 2013--Summary
PGMs have begun the third quarter on a positive note, paring some of the losses sustained in the April precious metal slump. Despite having reached a two-year high vs the gold price, platinum is currently trading at an eleven-year low compared to the palladium price.
While supply-side dynamics are price-supportive for both platinum and palladium, in the near term demand drivers are likely to favour palladium, which is more exposed to the strong growth of the US and Chinese auto sectors.
Source: ETF Securities Research
Barclays announces changes to leveraged finance Europe, Middle East, Africa team: Oien, Moravec
August 7, 2013--Barclays has today announced changes to its leveraged finance EMEA team, according to market sources.
Peder Oien has been named chairman of leveraged finance EMEA. Oien will focus on client coverage and the bank’s capabilities around structuring and execution. In addition, he will continue to be responsible for all high-yield committees as well as working with colleagues on legacy positions.
Source: Leveragedloan.com
August 7, 2013--According to preliminary figures from ETFGI's Global ETF and ETP report, net inflows of US$44.08 billion and strong market performance helped to push global ETF and ETP assets to a record US$2.16 trillion at the end of July 2013.
YTD net inflows into ETFs/ETPs are also at a record level of US$148.53 billion. Net new inflows of US$44.08 billion into global ETFs and ETPs in July were just short of breaking the record set in September 2012.
EQUITY
In July, Equity ETFs/ETPs gathered the largest net inflows with US$41.62 billion. North American/US equity ETFs/ETPs gathered the largest net inflows with US$32.99 billion, followed by Europe with US$3.51 billion, and developed Asia Pacific equity with US$1.82 billion.
Source: Thomson Reuters
BlackRock ETP Research-Sharp Rebound -highest inflows in 10 months
August 7, 2013--Global ETP flows rebounded to $44.1bn for the month, with investors once again turning to ETPs to execute their investment views. US Equities rallied in July following stronger than expected earnings and qualifying comments on QE3 from the Fed.
July was the strongest month since September 2012 when global flows reached $45.1bn.
2013 YTD flows of $143.3bn are now back ahead of the record pace of $128.3bn set in 2012.
Equity ETPs attracted the largest amount of flows in July with $39.3bn, driven by US exposures with $31.6bn.
Fixed Income flows improved to $6.4bn in July following outflows of ($8.4bn) in June.
Money trickled back into Emerging Markets Equities.
Gold outflows continued in July, building on an exodus that started in January. YTD outflows are now ($30.9bn).
FOR ACCREDITED INVESTORS ONLY IN CANADA AND PROFESSIONAL INVESTORS IN OTHER REGIONS.
Source: BlackRock-ETP Research
China broker GF Securities pays US$36.1m for Natixis trading unit
Chinese firm pays a reported US$40m for firm's London-based commodities trading unit
August 6, 2013--One of China's top securities brokers has bought the London-based commodities trading unit of French bank Natixis, in the latest move by Chinese institutions to expand into natural resources markets.
Western banks that trade raw materials face increased regulatory and political pressure, with some market leaders such as JP Morgan considering selling, spinning off or clinching strategic partnerships for their commodities desks.
Source: South China Morning Post
NASDAQ OMX Monthly Index Performance Report-July 2013
August 6, 2013--NASDAQ OMX has consolidated performance data for the top 50 most-watched NASDAQ OMX indexes.
Source: NASDAQ OMX
MSCI launches Quality Mix index series
August 5, 2013--Index provider MSCI has launched a new series called Quality Mix, which combines its existing Quality, Value Weighted and Minimum Volatility indices into a single diversified risk premia index.
The series reflects what MSCI sees as growing demand for active strategies that combine quality, value and low volatility factors in developing selection of securities and portfolio construction.
Source: Investment Europe
EPFR Global Summary-Investors brake for data going into August
August 5, 2013-- With estimates of US 2Q13 growth, July's employment numbers and a Federal Reserve statement looming, investors took their foot off the pedal going into August as they waited for clues about the future of the Fed's current quantitative easing program.
Overall flows into EPFR Global-tracked Equity Funds during the week ending July 31 totaled $6.6 billion, a four week low, while Bond and Money Market Funds recorded net outflows of $1.55 billion and $10.29 billion respectively.
While they awaited the latest statistical snapshots of the world’s largest economy, investors kicked the tires on Japan’s story as the country’s government moves to tackle the thorniest part – structural reforms - of its economic program. Japan Equity Funds saw their 27 week inflow streak come to an end.
Investors also dipped their toes back into Gold Funds for the first time since the week ending January 2.
Visit www.epfr.com for more info.
Source: EPFR
NYSE Euronext Monthly ETF Activity Report-July 2013
August 5, 2013--Listings
In July 2013, EasyETF listed one new share class on NYSE Euronext Paris:
At the end of July, NYSE Euronex''s European markets had 674 listings of 584 ETFs from 17 issuers.
Trading activity
Average daily value traded on-book in July of €217.5 million, a decrease of 7.0% vs June 2013, and down 9.3% vs July 2012.
Total value traded on-book amounted to €5.0 billion, a decrease of 13.8% vs June 2013, and down 5.1% vs July 2012.
Average of 6,418 on-book trades (single-counted) executed daily last month, a decrease of 15.4% vs June 2013, and up 3.4% vs July 2012.
Total of €364.4 million exchanged in block trades in July, down 81.0% from the €1.9 billion in June and down 50.9% vs July 2012.
Overall, block trade volume represented 7.3% of the total regulated market ETF trading activity on NYSE Euronext.
Assets Under Management (AUM)
At the end of July 2013, the combined AUM of all ETFs listed on the NYSE Euronext European markets totalled €156.6 billion.
Market Quality
In July, we welcomed Virtu Financial as a new LP to our markets. Virtu took on responsibilities for a total of 32 ETFs: 19 Lyxor ETFs, 11 iShares ETFs, and 2 db X-trackers.
In addition, 3 LPs took on liquidity responsibilities for 6 new LP contracts on 6 different ETFs:
Timber Hill expanded their activity by including 3 new iShares ETFs.
Commerzbank continued expanding their activity by adding 2 Lyxor ETFs to their list.
BNP Paribas Arbitrage took the lead on the new EasyETF share class.
Median spread for all listed ETFs of 41.0 bps, an improvement of 6% vs June 2013 and up 45% vs July 2012.
23 Liquidity Providers currently active on ETFs.
view the US ETP Monthly report
Source: NYSE Euronext
ETF Securities Precious Metals Weekly-Upside Potential for Silver as Fundamental and Technical Indicators Align
August 5, 2013--Technical indicators signal potential upside for silver. Widely observed technical indicators could be signalling that pessimism has gone too far-the gold:silver ratio reached a 3-yr high and the silver put:call ratio hit the lowest level in 10 months- and has potential upside.
The US ISM Purchasing Index for July jumped to 55.4 last week, which should help support the more industrial demand sensitive PGMs and silver (see chart below). On the following page, the price of silver is depicted overlaid with the annual changes in the US ISM PMI.
Silver appears ripe for a recovery. Meanwhile, gold continues to fall out of favour as investors’ perception of tail-risks diminishes. Another week of bullish data combined with assurances from the Fed that it will not taper abruptly has assuaged market concerns about tail-risks.
Source: ETF Securities
