Global ETF News Older than One Year
Rachel Lord to Replace Joe Linhares at iShares
August 9, 2013--Joe Linhares, BlackRock Inc.'s (BLK) head of iShares in Europe, the Middle East and Africa, is stepping down from his role and will be replaced by Rachel Lord, Citigroup Inc.'s (C) global head of corporate equity derivatives, Financial News has learned.
Linhares will return to the U.S. to take on an undefined role that will be confirmed in the "autumn," according to an internal memo from David Blumer, head of Emea at BlackRock, and Mark Wiedman, global head of iShares.
Source: Wall Street Journal
Investment cost concerns are more than media angst
August 9, 2013--There is an argument that the long-running debate over investment costs-and particularly fund management costs -is just media fetishism.
Real men don’t spend hours obsessing over fractions of a per cent here and there, the reasoning goes. They concentrate on picking investments that turn in such great performances that any minor variations in cost are insignificant. Only pesky journalists, scrabbling around for sensational headlines to fill blank pages at an un-newsy time of the year, think costs are a big issue....
Source: FT.com
OPEC Monthly Oil Market Report-August 2013
August 9, 2013--Highlights
The OPEC Reference Basket averaged $104.45/b in July, representing a gain of $3.42/b over the previous month. The increase came mainly from Brent-related North African grades, as well as
Middle Eastern crudes.
The Nymex WTI front-month contract gained a hefty $8.90/b in July to average $104.70/b. Positive US economic data coupled with US crude inventory draws attracted speculative flows back into the US crude futures market. Managed money net long positions rose to the highest level since the CFTC began publishing weekly disaggregated data in September 2009.
ICE Brent was supported by supply disruptions, although the upward price trend was partly offset by higher US shale supplies and worries about weaker Chinese demand.
Source: OPEC
FTSE/JSE to license top 40 index to Chinese fund manager
August 8, 2013--The Johannesburg Stock Exchange (JSE) has signed a letter of intent for an index product licence with Chinese fund manager GF Fund Management to create exchange traded funds based on the FTSE/JSE top 40 Index.
The letter, which signifies closer ties between South Africa and China’s financial markets, was signed during the inaugural South Africa China Market Forum held at the JSE today.
The FTSE/JSE top 40 Index, an index within the FTSE/JSE Africa Index Series, consists of the 40 largest companies on the JSE by market capitalisation
Source: FTSE Global Markets
DTCC: White Paper on systemic risk
August 8, 2013--DTCC, the premier post-trade market infrastructure for the global financial services industry, has published a new white paper. Under the title "Beyond the horizon" the paper promotes systemic-risk awareness and mitigation across the global financial industry.
It is meant to inform and elevate the discussion on the rapidly evolving spectrum of systemic risks facing financial markets.
Source: Eurex
ETF Securities Research-PGMs Update-Platinum: In Need of a Catalyst
August 8, 2013--Summary
PGMs have begun the third quarter on a positive note, paring some of the losses sustained in the April precious metal slump. Despite having reached a two-year high vs the gold price, platinum is currently trading at an eleven-year low compared to the palladium price.
While supply-side dynamics are price-supportive for both platinum and palladium, in the near term 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 Research
Barclays announces changes to leveraged finance Europe, Middle East, Africa team: Oien, Moravec
August 7, 2013--Barclays has today announced changes to its leveraged finance EMEA team, according to market sources.
Peder Oien has been named chairman of leveraged finance EMEA. Oien will focus on client coverage and the bank’s capabilities around structuring and execution. In addition, he will continue to be responsible for all high-yield committees as well as working with colleagues on legacy positions.
Source: Leveragedloan.com
August 7, 2013--According to preliminary figures from ETFGI's Global ETF and ETP report, net inflows of US$44.08 billion and strong market performance helped to push global ETF and ETP assets to a record US$2.16 trillion at the end of July 2013.
YTD net inflows into ETFs/ETPs are also at a record level of US$148.53 billion. Net new inflows of US$44.08 billion into global ETFs and ETPs in July were just short of breaking the record set in September 2012.
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 Europe with US$3.51 billion, and developed Asia Pacific equity with US$1.82 billion.
Source: Thomson Reuters
BlackRock ETP Research-Sharp Rebound -highest inflows in 10 months
August 7, 2013--Global ETP flows rebounded to $44.1bn for the month, with investors once again turning to ETPs to execute their investment views. US Equities rallied in July following stronger than expected earnings and qualifying comments on QE3 from the Fed.
July was the strongest month since September 2012 when global flows reached $45.1bn.
2013 YTD flows of $143.3bn are now back ahead of the record pace of $128.3bn set in 2012.
Equity ETPs attracted the largest amount of flows in July with $39.3bn, driven by US exposures with $31.6bn.
Fixed Income flows improved to $6.4bn in July following outflows of ($8.4bn) in June.
Money trickled back into Emerging Markets Equities.
Gold outflows continued in July, building on an exodus that started in January. YTD outflows are now ($30.9bn).
FOR ACCREDITED INVESTORS ONLY IN CANADA AND PROFESSIONAL INVESTORS IN OTHER REGIONS.
Source: BlackRock-ETP Research
China broker GF Securities pays US$36.1m for Natixis trading unit
Chinese firm pays a reported US$40m for firm's London-based commodities trading unit
August 6, 2013--One of China's top securities brokers has bought the London-based commodities trading unit of French bank Natixis, in the latest move by Chinese institutions to expand into natural resources markets.
Western banks that trade raw materials face increased regulatory and political pressure, with some market leaders such as JP Morgan considering selling, spinning off or clinching strategic partnerships for their commodities desks.
Source: South China Morning Post
