Global ETF News Older than One Year
ETF Securities-Precious Metals Weekly: Palladium Price Boosted by Continued Deficit Fears
May 20, 2013--Precious metals remained under pressure last week as a narrowing US deficit helped the US dollar appreciate and sent most precious metals (in dollar terms) lower.
Many investors in gold and silver ETPs continued to rotate into equities despite mixed cyclical signals. Meanwhile the Reserve Bank of India added a further obstacle to gold-hungry Indian consumers by restricting the ability of banks to import gold on consignment (meaning that they will only be able to import gold to fulfil a specific customer order from now on). The only bright spot in precious metals came from palladium which continued to rally on growing supply deficit expectations. As market participants from around the globe gathered in London for Platinum and Palladium Week, there is a growing consensus that the palladium deficit in 2013 will be meaningful.
Johnson Matthey confirms the platinum and palladium deficit of 2012 and points to a further deficit in palladium in 2013. Palladium is set to see supplies tighten this year as gasoline autocatalyst demand from the US and China continues to grow and Russian state stocks diminish further. JM's outlook for platinum is strained by still poor diesel autocatalyst sales in Europe and weaker jewellery demand, while recycling activity could pick up. European auto sales may have reached a bottom however, with April sales showing the first increase in 18 months. Sales are currently hovering near a 17 year low and austerity-fatigued consumers of Europe will probably need to see more balance-sheet restructuring before they quicken their pace of car purchases.
Source: ETF Securities
Semi-Annual Changes To The NASDAQ OMX CRD Global Sustainability Index
May 20, 2013--The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) and CRD Analytics announced today the results of the semi-annual re-ranking of the NASDAQ OMX CRD Global Sustainability Index (Nasdaq:QCRD), which will become effective prior to market open on Monday, May 20, 2013.
The following six securities will be added to the Index: Albemarle Corporation (NYSE:ALB), Air Products and Chemicals, Inc. (NYSE:APD), CRH public limited company (NYSE:CRH), Potash Corporation of Saskatchewan Inc. (NYSE:POT), Praxair, Inc. (NYSE:PX) and Vale S.A. (NYSE:VALE).
Source: NASDAQ OMX
FTSE EPRA/NAREIT real estate indices surpass $10Bn in ETF-linked AUM
May 17, 2013--Leading global real estate indices hit landmark AuM
Continuous innovation to the index series
Successful 8 year partnership between FTSE and EPRA/NAREIT
May 17, 2013--FTSE Group ("FTSE"), the global index provider, is pleased to announce that the ETF assets linked to the FTSE EPRA/NAREIT Global Real Estate Index Series, reached $US10.5 billion in assets under management, as of 30 April 2013. In total, more than US$176 billion of ETF assets are currently benchmarked to FTSE indices worldwide.
Launched in 2005, the index has expanded from the original Developed index to include a wide range of indices covering developed and emerging markets, Dividend+ and sector indices.
In May 2013 FTSE launched the latest in the Series – the FTSE EPRA/NAREIT Developed Super Liquid Index. Constituents are chosen from the most highly liquid constituents of the FTSE EPRA/NAREIT Developed index, while retaining the characteristics of the underlying index. All FTSE’s Super Liquid indices are easier to replicate than their underlying indices.
Source: FTSE
Bulls take on Japanese characteristics as Equity Fund flows hit three month high
May 17, 2013--The second week of May saw flows into Japan Equity Funds hit a record high in both dollar and percentage of assets under management terms as an market long associated with kuma (bears) saw the oushi (bulls) arrive in force.
That helped lift flows into all EPFR Global-tracked Equity Funds to their highest level in 14 weeks and allowed them to outgain Bond Funds by a 4-to-1 margin despite another week of net redemptions by retail investors.
Overall flows into Equity Funds during the week ending May 15 totaled $14.16 billion versus net inflows of $3.4 billion Bond Funds while Money Market Funds saw $15.7 pulled out with Europe Money Market Funds seeing the biggest redemptions. Year to date Equity Funds have absorbed $176.36 billion and Bond Funds $165.1 billion.
visit epfr.com for more info.
Source: EPFR
IMF Working paper-"Near-Coincident" Indicators of Systemic Stress
May 17, 2013--Summary: The G-20 Data Gaps Initiative has called for the IMF to develop standard measures of tail risk, which we identify in this paper with systemic risk. To understand the conditions under which tail risk is present, it is first necessary to develop a measure of what constitutes a systemic stress, or tail, event.
We develop such a measure and uses it to assess the performance of eleven near-term systemic risk indicators as ‘early’ warning of distress among top financial institutions in the United States and the euro area. Two indicators perform particularly well in both regions, and a couple of other simple indicators do well across a number of criteria. We also find that the sizes of institutions do not necessarily correspond with their contribution to spillover risk. Some practical guidance for policies is provided.
view the IMF Working paper-"Near-Coincident" Indicators of Systemic Stress
Source: IMF
NYSE and Credit Suisse inch closer to "trade-at" rule
May 16, 2013--NYSE Euronext and the Credit Suisse Group have agreed on a proposal to test a "trade-at" rule that would require orders be sold at the best price.
They will need the Financial Industry Regulatory Authority to reactivate the alternative display facility to allow alternative trading venues to post bids.
Source: SmartBrief
World Gold Council Gold Demand Trends Q1 2013
May 16, 2013--Executive summary:
Key findings for first quarter 2013 examined by sector and region.
Global Gold Market: First quarter 2013 review
Jewellery: Fourth quarter recovery in the jewellery sector continued into the first quarter of this year.
Investment: The decline in investment demand relative to Q1 2012 was solely attributable to the net outflows from ETFs, which obscured the strong rise in investment for gold bars and coins at the retail level.
Technology: Technology demand has been broadly stable, holding around 100 tonnes, over the last six quarters.
Central Banks: Central banks added 109.2t of gold to their reserves in Q1 2013, the ninth consecutive quarter of net purchases.
Supply: At 1,051.6t, total gold supply was little changed from first quarter of 2012
Source: WOrld Gold Council
Developing countries to dominate global saving and investment, but the poor will not necessarily share the benefits, says report
May 16, 2013--Developing world's share of global investment to triple by 2030
China, India will be developing world's largest investors
Boost to education needed so poor can improve their well-being
In less than a generation, global saving and investment will be dominated by the developing world, says the just-released Global Development Horizons (GDH) report.
By 2030, half the global stock of capital, totaling $158 trillion (in 2010 dollars), will reside in the developing world, compared to less than one-third today, with countries in East Asia and Latin America accounting for the largest shares of this stock, says the report, which explores patterns of investment, saving and capital flows as they are likely to evolve over the next two decades.
Source: World Bank
MSCI Equity Indices May 2013 Index Review
May 15, 2013--MSCI Inc. (NYSE: MSCI), a leading provider of investment decision support tools worldwide, including indices, portfolio risk and performance analytics and corporate governance
services, announced today the results of the May 2013 Semi‐Annual Index Review for the MSCI Equity
Indices-including the MSCI Global Standard,
MSCI Global Small Cap and MSCI Micro Cap Indices, as well as the MSCI Global Value and Growth Indices, the MSCI Frontier Markets and MSCI Frontier MarketsSmall Cap Indices, the MSCI Global Islamic and MSCI Global Islamic Small Cap Indices, the MSCI Pan‐Euro and MSCI Euro Indices, the MSCI US Equity Indices, the MSCI US REIT Index, as well as the MSCI China A Indices. All changes will be implemented as of the close of May 31, 2013.
Source: MSCI
ETF Securities-Research Note: Platinum Group Metals Outlook: Palladium Still Favoured
May 15, 2013--Report Summary
After a strong start to the year, platinum and palladium have given back most of the gains accumulated since the beginning of 2013, as the recent sell-off in precious metals has weighed on performance.
We expect the soft patch in US and Chinese economic indicators to be temporary and healthy growth will resume in the coming months, supported by on-going central bank policy stimulus. With platinum prices currently trading an estimated US$400 per ounce below miners' cash operating costs, more production cut backs are expected. While supply-side dynamics are price-supportive for both platinum and palladium, 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
