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DB-Synthetic Equity & Index Strategy-Europe Monthly ETF Market Review-Developed Markets Continue to Attract New Money
December 9, 2013--Data in this report is as of 29 November 2013
Global Summary
Global ETP assets rose by $36.4bn last month (+21.1% YTD) and closed the month at an all time high $2.2 trillion. ETP assets across all the regions are at their highest level with 23.5%,11.7% and 23.5% YTD growth for US,Europe and Asia respectively.
Global ETP industry continues to attract positive monthly flows recording +$16.4bn of inflows in November. US domiciled ETPs remain major contributor receiving +$12.9bn of positive flows,followed by Europe with +$3.6bn flows. Fund flows were flat in Asia region with -$64mn of outflows. Globally,equities saw inflows of +$17.6bn,followed by fixed income (+$0.4bn) while commodities witnessed outflows of -$1.8bn.
European cash flow summary
Europe: Equity ETFs continue to collect healthy inflows,fixed income ETFs also had some inflows
European domiciled ETPs received healthy cash flows in November recording +€.2.6bn of inflows,keeping broadly the same trend as was in October (+€.2.8bn). Equity ETFs had the lion’s share in total flows registering +€.2.4bn of inflows followed by fixed income ETFs (+€.0.6bn),while commodity ETPs experienced outflows of -€.0.2bn.
Similar to previous month,all the segments within equity recorded positive flows for the last month. Developed markets (DM) ETFs recorded +€.1bn of inflows in November (+€.1bn in Oct’13). Among other segments,sector,strategy and style brought +€.0.3bn,+€.0.3bn and +€.0.2bn of monthly inflows respectively.
Fixed income ETFs observed inflows of +€.0.6bn in November,lower than the previous month (+€.1bn in Oct’13),taking YTD total to +€.7.5bn. ETFs benchmarked to sovereign and corporate bond indices were the largest cash flows receivers of the month recording +€.0.7bn and +€.0.2bn of cash inflows. Money market ETFs saw outflows of -€.0.3bn over the same period.
Commodity ETPs have been experiencing outflows since January this year and last month again recorded outflows of -€.0.2bn (-€.8.5bn YTD). Commodity ETPs outflows were largely driven by gold products in the region with -€.0.2bn of withdrawals (-€.8bn YTD). Gold ETPs saw monthly outflows for the entire year so far.
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Source: Deutsche Bank-Synthetic Equity & Index Strategy-Europe Monthly ETF Market Review
New fees of the Moscow Exchange's equity market to come into effect
December 9, 2013--Moscow Exchange is introducing new fees for its equity market from 16 December.
In the new fees ETFs are considered a specific category of securities. Fees for trades in ETFs are similar to those charged for trades in mutual funds.
A unified total fee of 0.01% of a trade size will be applied to all dark pool trades regardless of the fee schedule selected by a trading member. A cap of RUB1,500 for the total fee charged for dark pool trades will be abolished due to the end of the grace period.
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Source: Moscow Exchange
Grace period for trades in foreign securities
December 9, 2013--Moscow Exchange announces an introduction of a grace period for trades in shares of foreign issuers and depositary receipts representing them beginning 16 December. The grace period will be in effect through 30 June 2014.
Within the grace period transactions in foreign securities and DRs representing them will cost only 50% of prices prescribed in fee schedules selected by trading members (0.00325%-0.005%).
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Source: Moscow Exchange
South East Europe on Slow Road to Recovery, according to World Bank
December 9, 2013--The countries of the South East Europe (SEE6)[1] region exited from recession in the first half of 2013, led by improved export performance, according to the latest World Bank South East Europe Regular Economic Report (SEE RER). The report was launched from Tirana across the region in a series of events chaired by World Bank Country Director for South East Europe Ellen Goldstein.
Average growth of real income of the six countries rebounded from negative 0.7 percent in 2012 to 1.8 percent (year-on-year) in the first half of 2013, supported by nascent recovery in the Eurozone. In addition, favorable weather conditions supported a strong contribution of agricultural output to economic growth and helped weaken inflationary pressures.
view the South East Europe Regular Economic Report-Slow Road to Recovery
Source: World Bank
Component Changes made to STOXX Balkan 50 Equal Weight
December 6, 2013--STOXX Limited, a leading provider of innovative, tradable and global index concepts, today announced component changes in the STOXX Balkan 50 Equal-Weight Index due to an extraordinary review of the index.
These changes become effective with the open of markets on December 23, 2013.
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Source: STOXX
FTSE launches innovative UK Digital Services Index Series
Creates broader,more representative index of digital service companies
Reflects growing importance of sector to UK businesses
Over 10 industry sectors included ranging from retailers,to leisure,to software
Indices calculated for FTSE All-Share, FTSE AIM and a composite of both
December 6, 2013--FTSE Group ("FTSE"), the global index provider, is pleased to announce the launch of the UK Digital Services Index Series, which will act as a benchmark of UK companies operating in the digital sector.
Indices will be calculated based on the FTSE All-Share and the FTSE AIM benchmarks, as well as a composite index of both FTSE All-Share and FTSE AIM constituents. A company is eligible for the index if it derives more than 50% of its revenues from either digital or online services,or if it is considered to be engaged in providing services that are integral and critical for the functioning of digital services.
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Source: FTSE Global Markets
Deutsche switches ETF tactics in Europe
December 6, 2013--Deutsche Asset and Wealth Management has announced major changes to its exchange traded funds operations with a radical shift to its business model.
As the largest provider of derivative-linked ETFs in Europe, DeAWM has vociferously argued that so-called "synthetic" products are a cheaper, more efficient option for investors than rival physical ETFs that buy the constituents of a benchmark index.
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Source: FT.com
Deutsche Bank swaps ETFs to physical
December 6, 2013--Deutsche Bank is switching 18 of its most popular exchange-traded funds from swap-based to physical structures, in response to client demand.
The ETFs making the switch track indices including the FTSE All Share, Euro Stoxx 50, French CAC 40 and German Dax. Deutsche Bank launched a platform for physical ETFs a year ago. The changes will take place in the first half of next year.
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Source: Financial News
Notice to Shareholders of the Sub-Funds- db x-trackers ETFs
December 6, 2013--Important notice to shareholders of the sub-funds Notice to Shareholders of the Sub-Funds-db x-trackers ETFs
db x-trackers EURO STOXX 50(R) UCITS ETF (DR) (LU0846194776)
db x-trackers DAX(R) UCITS ETF (DR) (LU0838782315)
(the "Sub-Funds")
The board of directors of the Company hereby informs the shareholders of the Sub-Funds (the "Shareholders") that it has resolved to change the name of the Sub-Funds, effective as of 6 December 2013, so as to read as follows:
Current Name: db x-trackers DAX(R) UCITS ETF (DR)
New Name: db x-trackers DAX(R) UCITS ETF (DR)- Income
Current Name : db x-trackers EURO STOXX 50(R) UCITS ETF (DR)
New Name: db x-trackers EURO STOXX 50 (R) UCITS ETF (DR)-Income
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Source: db x-trackers
MNI Russia Consumer Report-November 2013
December 5, 2013-- MNI Russia Consumer Indicator falls to 94.8 in November from 99.4 in October. Confidence Hits Record Low.
view the MNI Russia Consumer Report-November 2013
Source: MNI Indicators Deutsche Börse Group
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