Global ETF News Older than One Year
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
ETFGI monthly newsletter-Global ETF and ETP assets reached US$2.16 trillion, a new record high, at the end of July 2013
August 5, 2013--August 6, 2013-- According to preliminary figures from ETFGI's Global ETF and ETP industry insights report, near record net inflows of US$44.08 billion and strong market performance helped to push global ETF and ETP assets to US$2.16 trillion at the end of July 2013. There are now 4,883 ETFs/ETPs, with 9,925 listings, from 209 providers listed on 57 exchanges.
ETFGI is proud to announce that Deborah Fuhr has been included in the WealthManagement.com “Ten to Watch in 2014” list.
Year to date (YTD) net inflows into ETFs/ETPs are at a record level of US$148.53 billion, above the US$130.47 billion at this time in 2012. Net new inflows of US$44.08 billion into global ETFs and ETPs in July were just short of breaking the record level of net inflows set in September 2012.
"Dovish comments from the Fed and positive market performance encouraged investors to put net inflows of US$44.08 billion back into the market through ETFs/ETPs" according to Deborah Fuhr, Managing Partner at ETFGI.
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 European equity indices with US$3.51 billion, and developed Asia Pacific equity with US$1.82
billion.
FIXED INCOME
Fixed income ETFs/ETPs experienced net inflows of US$5.1 billion. High yield ETFs/ETPs gathered the largest net inflows with US$3.0
billion, followed by government bonds with US$2.2 billion, and corporate bonds with US$868 million, while inflation-linked fixed income
ETFs/ETPs experienced the largest net outflows with US$650 million.
Source: ETFGI
SPDR University Latest Commentary-Weekly Market Report
August 2, 2013--ECONOMIES:
Manufacturing improves across most of the G7. The Fed leaves policy unchanged but strikes a more dovish tone. The jobs
report disappoints, while growth remains lackluster in the US.
GDP rises moderately in Canada. The Bank of England and the European Central Bank leave policy unchanged. Industrial production tumbles in Japan. Credit growth picks up slightly in Australia. GDP falls again in Spain.
MARKETS: Central bank dovishness supports risk appetites. Equities are mostly higher. G7 government bonds are mixed. AUD continues its slide. Oil trades sideways. Gold falls.
THE WEEK IN REVIEW
US
As expected, the FEDERAL RESERVE (FED) left administered interest rates and its asset purchase program unchanged. It also kept the same unemployment-and-inflation-based forward guidance on administered rates. Chairman Bernanke's guidance (provided at the press conference following the last meeting) that tapering of asset purchases could begin later this year was not repeated in the policy statement. However, this was not surprising and should not be interpreted as a signal that the Fed is backing away from this guidance. Tapering is very much data dependent. Meanwhile, the latest policy statement struck a more dovish tone, likely to reassure markets that whenever tapering actually begins the Fed still anticipates keeping policy extremely easy, with the funds rate near zero, for quite a while yet NEXT WEEK PREVIEWED SPOTLIGHT: The Bank of Japan should leave policy unchanged but the Reserve Bank of Australia will likely cut its policy rate a quarter point. GDP should fall in Italy.
Source: SSgA
Improving Eurozone Outlook: Russell Indexes showed an improving Eurozone in July as Russell investment strategists upgrade Eurozone equities from underweight to neutral.
August 1, 2013--Eurozone equity markets were up strongly in July month-to-date as of July 29 according to the Russell Indexes, with a 5.46% return for the Russell Eurozone Index following a 3.75% return in the first half of 2013.
This compares to a 2.78% return for the Russell Global ex-U.S. Index for July following a 2.09% return for the first half of 2013.
Within the Russell Eurozone Index, country constituents Ireland (20.45%), France (12.79%) and Germany (9.68%) led year-to-date returns as of July 29, while country constituents Austria (-0.02%), Luxembourg (-3.32%) and Greece (-12.36%) were the weakest performers for this same time period. Country constituent Spain (9.47%) led the Index for July month-to-date as of July 29, while Greece (-1.83%) was the bottom performer within the Index for this same time period.
Source: Russell Indexes
BATS Chi-X Europe, BATS U.S. Options Set Monthly Market Share Records In July
Records Set in Spain, Nordics, EuroSTOXX 50 and Depositary Receipts Trading
August 1, 2013--BATS Global Markets (BATS) today reported that BATS Chi-X Europe set seven monthly market share records in its second month as a Recognised Investment Exchange while BATS Options recorded its best month with 4.3% market share.
BBATS Chi-X Europe posted market share of 24.3% in the EuroSTOXX 50, surpassing the previous record of 23.9% set in November 2012, and 15.6% in Spain’s IBEX 35, topping the 14.4% set in June. Additional Europe records in July include Depositary Receipts (FTSE RIOB, 9.0%), Frankfurt’s DAX (28.8%), Stockholm’s OMXS30 (31.4%), Helsinki’s OMXH25 (30.7%), and Oslo’s OBX (23.2%). Overall, BATS Chi-X Europe recorded market share of 24.2% in July vs 22.5% June. Average daily notional value was €7.3 billion in July vs €8.0 billion in June.
Source: BATS
BlackRock's iShares hires Barclays Wealth product guru
August 1, 2013--iShares, BlackRock's exchange-traded funds (ETF) arm, has appointed Tom Fekete as head of product development as part of its bid to expand its market share.
Fekete joins from Barclays Wealth, where he was the Europe, Middle East and Africa (EMEA) head of investment products and global head of foreign exchange advisory. He held the position for four years.
Source: CityWire
ETF Securities-Global Commodity ETP Quarterly
August 1, 2013--The report includes:
A comprehensive and fully up-to-date reference guide to investing in global commodity ETPs and indexes --no ETP type or geographic area is excluded. The report details the large and growing choice of commodity ETP exposures and strategies around the world.
Summary analysis of global commodity ETP flows, trading volumes and AUM trends. Includes a detailed analysis of the main trends in 2013 and the outlook for the rest of year.
Roll yield analysis (contango/backwardation) broken down by individual commodity and commodity sectors.
Useful fundamental commodity data and information. An updated and revised inventory trends section, positioning data, futures curve developments, commodity index compositions and weights.
Source: ETF Securities
Average daily volume of 6.8 million contracts at Eurex Group in July
Segment interest rate derivatives grew by 15 % year-on-year
August 1, 2013--In July 2013, the international derivatives markets of Eurex Group recorded an average daily volume of 6.8 million contracts (July 2012: 8.1 million).
Of those, 4.6 million were Eurex Exchange contracts (July 2012: 5.7 million), and 2.2 million contracts (July 2012: 2.3 million) were traded at the U.S.-based International Securities Exchange (ISE). In total, 106.9 million contracts were traded at Eurex Exchange and 48.7 million at ISE.
Source: Eurex
