Global ETF News Older than One Year
IMF Working Paper-Effects of Capital Flow Liberalization-What is the Evidence from Recent Experiences of Emerging Market Economies
November 16, 2012-- Summary: This paper analyzes the experiences of emerging market economies (EMEs) that have liberalized capital flows over the past 15 years with respect to macroeconomic performance and risks to financial stability.
The results of the panel data regressions indicate that greater openness to capital flows is associated with higher growth, gross capital flows, and equity returns and with lower inflation and bank capital adequacy ratios. The effects vary depending on thresholds. As a potential application of these findings, the paper explores the possible effects of liberalization on China by applying the coefficients of explanatory variables to the corresponding variables of China in 2012–16.
Source: IMF
EPFR Global Fund Data News Release-US Equity Funds bear brunt of latest fears about policy and global growth
November 16, 2012--The second week of November saw investors digesting an unpleasant cocktail of European data, US budget skirmishes, Japanese politics and renewed violence in the Middle East.
They responded by pulling over $7 billion out of US Equity Funds and over $1 billion from US High Yield Bond Funds while slowing the pace of their commitments to Emerging Markets Equity and Bond Funds.
Overall, EPFR Global-tracked Bond Funds took in $5.29 billion during the week ending Nov. 14 while net redemptions from Equity Funds hit their highest level since the week preceding the US Federal Reserve’s announcement of QE3. Money Market Funds recorded outflows of $7.06 billion and Balanced Funds, which invest in both debt and equities, saw $1.12 billion taken out.
Visit http://www.epfr.com/overview.aspx for more info
Source: EPFR
IOSCO Publishes Recommendations for Securitisation Regulation
November 16, 2012--The International Organization of Securities Organizations (IOSCO) has published today a final report on Global Developments in Securitisation Regulation, which proposes a series of recommendations aimed at ensuring securitisation markets develop, but on a sound and sustainable basis.
When functioning properly, securitisation is a valuable financing tool that contributes to economic growth and the efficient diversification of risk. However, the Global Financial Crisis is recognised as having damaged investor interest and confidence in these markets. Since the outbreak of the Crisis, global securitisation markets activity has suffered a significant downturn. The Financial Stability Board (FSB) is in the process of reviewing reforms of securitisation markets, as part of its ongoing work for the G20 on the shadow banking sector. In this context, the FSB requested that IOSCO conduct a stock-taking exercise on certain aspects of securitisation, including risk retention, transparency and standardisation, and develop policy recommendations as necessary.
view the Global Developments in Securitisation Regulation
Source: OECD
Differences narrow as MSCI defends its patch
November 16, 2012--Once a year, investors and analysts in the United Arab Emirates engage in what has almost become a ritual for the local financial community-guessing whether the oil-soaked Gulf country will finally be included by MSCI in its influential emerging markets index.
Local and international investment banks and brokerages spew out research reports predicting with varying degrees of confidence that the country will – or will not – be promoted from the index provider’s “frontier markets” gauge, and try to estimate the potential benefits.
Source: FT.com
Thomson Reuters Global Equities Monthly Market Share Data Reports-October 2012
October 15, 2012--Trading is fragmenting between exchanges and competing venues. But by how much and which venues? Find out in the summarised monthly reports.
Source: Thomson Reuters
India still the world's biggest gold market
India has shot to the top spot again, as the world's biggest gold market in Q3, as demand jumped 9%, while demand in China toppled 8%.
November 15, 2012--India has toppled China to emerge as the largest gold consumer in the third quarter of 2012. Though global gold demand fell in the Q3 with investors buying fewer bars and coins, India's gold demand revived in the June-September quarter 2012.
According to data compiled by the World Gold Council (WGC), gold demand totalled 223.1 tonnes, up 9% year on year from 204.8 tonnes in the third quarter of 2011. Demand from China actually slipped in the same quarter. China recorded an 8% drop in demand at 177 tonnes (191 tonnes) due to the economic slow down in the country. Jewellery demand was down 5% at 124 tonnes as retailers reduced their inventory
Source: MineWeb
FTSE Group, NAREIT and US Green Building Council Develop the First Investable Green Property Indexes
November 14, 2012--FTSE Group, NAREIT and the U.S. Green Building Council (USGBC) announced today that they have jointly developed the first investable green property indexes for both institutional and retail investors.
This collaboration brings together the global market leaders in US real estate indexing, REIT market expertise and environmental building standards. The indexes, currently in the final stages of implementation prior to customer use, will give investors a structured and disciplined way to measure and model the risk and reward profile of green property, using the first codified, transparent definition of listed green property. They will also provide investors with new ways to incorporate principles of sustainability into their property selections and portfolios, and access this investment theme through index-linked financial products.
The new family of green property indexes will be based on the market’s leading benchmark for US real estate, the FTSE NAREIT Index Series, using green data (LEED & Energy Star ratings) from USGBC. The USGBC is a leading non-profit organization known for its development of LEED, a global green building certification program, and its large diverse member community.
Source: FTSE
Summit on The Global Agenda 2012 Ends With Call for World Leaders to Take a Global View
The World Economic Forum's fifth Summit on the Global Agenda ends with a call for world leaders to take a long-term global perspective and not to be too focused on internal problems
Regional leaders agreed to improve communications and links with the UN, and contribute to shaping a development agenda for after the Millennium Development Goals target of 2015
November 14, 2012--The World Economic Forum's fifth Summit on the Global Agenda ended today with a call for world leaders to take a long-term global perspective and not be too focused on domestic problems.
“2013 will be a very crucial year, with many rupture points,” warned Klaus Schwab, Founder and Executive Chairman, World Economic Forum, in the closing session. Relaying the concerns of Summit participants, he added: “I appeal to the world’s leadership, particularly in those countries with new leaders in place or where the current leaders have been reconfirmed, to devote sufficient time and positive energy to look after our global issues and not just to be absorbed with internal problems. Let’s make 2013 a year of true global cooperation.”
More than 1,000 thought leaders and experts on the most significant global challenges – members of the Forum’s 88 Global Agenda Councils – participated in this year’s Summit, up from 700 in Abu Dhabi last year. Among them were more than 260 business leaders, nearly 100 more than in 2011, and 253 women, more than double the number at the fourth Summit. That more than 120 of this year’s participants have been to all five past Summits underscored the commitment of the members of the Global Agenda Councils to contributing to the shaping of solutions to the most critical global issues.
Source: WEF (World Economic Forum)
World Economic Forum-Shifting Priorities for World's Biggest Brainstormers, Survey Reveals
Members of Global Agenda Councils identify major new causes for concern in latest annual survey
Most significant new global trend is fear of eurozone break-up
The annual Survey on the Global Agenda attracted more than 850 responses from members of the Forum’s Network of Global Agenda Councils
November 13, 2012--Members of the World Economic Forum's Network of Global Agenda Councils have revealed in a survey that the issues which concern them most in 2012 have changed markedly in the past 12 months.
According to the annual Survey on the Global Agenda, released today at the Network’s annual meeting in Dubai, members saw the crumbling eurozone as the most significant trend of 2012. Two other trends, a lack of global leadership and global interdependency, which had been regarded as low priority in 2011, have also risen steeply to prominence.
The prospect of a break-up of the Eurozone only featured at 28th place in 2011’s Survey. Last year’s top trend, the public debt crisis, falls to 10th place. Such a shift in priorities among the 850 Council members surveyed suggests that experts now contemplate a considerable political as well as financial fall-out from the crisis, as eurozone countries continue to struggle to keep public debt levels in check.
view the Global Agenda Survey 2012
Source: WEF (World Economic Forum)
WEF-The Geopolitical Outlook: Future Shocks
China's economic rise will shake up the global geopolitical order in the coming decades, leading to competition with the US and China
Hurricane Sandy has shown how unprepared we are for extreme weather, which could lead to tensions over resources
Food security will be a key issue in the coming years and it could prompt increased protectionism and nationalism
November 13, 2012- China's economic rise will shake up the geopolitical order, but political outlook dictates whether that is seen as a risk or a challenge, panellists said on the second day of the Summit on the Global Agenda in Dubai.
Other geopolitical shocks, such as events in the Middle East, climate change and associated food security issues also featured highly in this televised debate, but China’s ascendancy dominated the session.
China’s growing economic role has led to open competition with the United States, with President Barack Obama recently referring for the first time to China as a US "adversary", Ian Bremmer, President, Eurasia Group, USA, said. “There is a risk that the rise of China upsets the apple cart.”
Source: WEF (world Economic Forum)
