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Euro area investment fund statistics: second quarter of 2022
August 17, 2022-In second quarter of 2022, outstanding amount of shares/units issued by investment funds other than money market funds fell to €14,823 billion, down €1,022 billion on previous quarter
Net redemptions in quarter amounted to €77 billion, with €1,064 billion in gross issues and €1,141 billion in gross redemptions
Outstanding amount of shares/units issued by money market funds rose to €1,363 billion, up €22 billion on previous quarter
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Source: ECB
ETFs and CCP clearing: On the right track
August 16, 2022--The global exchange traded fund (ETF) market has seen extraordinary growth since its inception almost 30 years ago, with the range of ETF products growing increasingly diverse and complex. In Europe, a high rate of settlement failures and general inefficiency in the market has meant there has been a drive to bring more ETF trades through central clearing, providing greater risk mitigation and operational efficiency.
But is enough being done to facilitate that switch? Chris Lemmon reports.
On 22 January 1993, State Street Global Advisors issued the first ever exchange traded fund (ETF)- the SPDR S&P 500, which tracked the performance of the popular US index. Following a relatively low-key start to life on the markets-opening with just $6.53 million in assets- the fund has seen tremendous growth in the last 10 years, topping $450 billion in assets under management in January this year.
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Source: thetradenews.com
HSBC launches biodiversity ETF
August 12, 2022--Uses three filters to screen top 500 companies
HSBC Asset Management has launched a biodiversity ETF that uses three filters to identify companies with strong biodiversity credentials.
The HSBC World ESG Biodiversity Screened Equity UCITS ETF comprises 500 companies by applying three exclusionary biodiversity filters: the Socially Responsible Investment filter, negative ESG screening using Sustainalytics to remove the worst 25% of companies, and the Iceberg Data Lab (IDL) Corporate Biodiversity Footprint.
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Source: esgclarity.com
Active funds can beat passive if fees are low enough, study shows
August 11, 2022--Retail investors miss out on outperformance enjoyed by institutional investors due to higher costs
Different fee levels mean fund share classes that are accessible to institutional investors have outperformed passives, but retail investors' share classes have underperformed, a group of four Dutch researchers has found.
The research paper, Fund Selection: Sense and Sensibility, is the result of analysis of the performance of Luxembourg and Ireland-based Ucits equity and fixed-income funds between 2008 and 2020.
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Source: ft.com
ESMA publishes latest edition of its Newsletter
August 3, 2022--The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, has today published its latest edition of its Spotlight on Markets Newsletter.
Your one-stop-shop in the world of EU financial markets features in July an article on the development of key retail risk indicators (RRIs) for the EU single market. The identified RRIs highlight risks around inexperienced investors, use of digital tools by younger investors and spikes in overall trading during periods of market stress.
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Source: ESMA
UK official holdings of international reserves: July 2022
July 3, 2022--This release details movements in the international reserves of gold and assets held by the UK government.
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Source: gov.uk
IMF Staff Country Report-Italy: Selected Issues
August 1, 2022--PRODUCTIVITY IN ITALY: SCOPE FOR IMPROVEMENT1
This paper investigates the role of structural characteristics on Italy's labor productivity at the regional and sectoral levels. Productivity-enhancing structural factors are found be highly correlated, indicating that reforms are complementary and reinforcing. As a result, a concerted, multi-faceted reform program, as envisaged in the National Recovery and Resilience Plan, would likely be most effective at raising productivity.
Improving structural characteristics beyond Italy's national frontier will be crucial to lift productivity towards the level of peer EU countries.
Two Decades of Weak Productivity: Regional and Sectoral Dimensions1.
Italy's productivity has been stagnant in recent decades. Real value added per worker declined by nearly 5 percent, while total factor productivity fell by 13½ percent during 2000-19. Together with the shrinking working-age population, potential growth has been low, and the economy has slowed markedly.
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Source: IMF.org
Euro zone's inflation at record 8.9% in July, highest since 1997
July 30, 2022--Euro zone's inflation at record 8.9% in July, highest since 1997
Annual inflation in the eurozone's 19 countries rose to 8.9 per cent in July, an increase from 8.6 per cent in June
Consumer prices jumped 8.9% in July; economists estimated 8.7%
Latest all-time high coincides with growing recession fears
Euro-zone inflation climbed to another all-time high, supporting calls for the European Central Bank to follow up its first interest-rate hike since 2011 with another big
Inflation in the European countries using the euro currency shot up to another record in July, pushed by higher energy prices driven partly by Russia's war in Ukraine, but the economy still managed some meager growth.
Annual inflation in the eurozone's 19 countries rose to 8.9 per cent in July, an increase from 8.6 per cent in June, according to the latest numbers published Friday by the European Union statistics agency.
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Source: business-standard.com
ESAs issue report on the extent of voluntary disclosure of principal adverse impact under the Sustainable Finance Disclosure Regulation
July 28, 2022--July 28, 2022-The Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA- ESAs) published the first annual report on the extent of voluntary disclosure of principal adverse impact under the Sustainable Finance Disclosure Regulation (SFDR)-Article 18 of Regulation (EU) 2019/2088.
Based on a survey of National Competent Authorities (NCAs), the ESAs have developed a preliminary, indicative and non-exhaustive overview of good examples of best practices, and less good examples of voluntary disclosures.
Highlights:
the extent of compliance with voluntary disclosures varies significantly across respondents, but, overall, the first disclosures since the application of the SFDR are not very detailed-this is expected to change for the disclosures made for the 2022 reporting period once the SFDR Delegated Regulation applies;
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Source: ESMA
ETC Group launches BTCetc on Cboe Europe
July 28, 2022--ETC Group has its digital asset-backed securities listed on European exchanges including XETRA, Euronext, SIX, AQUIS UK and Wiener Börse.
Digital asset-backed securities provider ETC Group announced it will list its physically-backed BTCetc ETC Group Physical Bitcoin (ticker BTCE) on Cboe Europe.
Trading on regulated markets, investors can buy and sell the BTCE in the same way they would when trading conventional shares through their online broker platform or bank and with identical regulatory protections in place.
The underlying collateral is securely stored in institutional-grade custody, and investors do not require a digital wallet or related technical knowledge, the firm stated.
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Source: financefeeds.com
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