Lyxor completes of integration of Commerzbank’s asset management business

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Lyxor completes integration of Commerzbank’s asset management business

Lyxor has completed the integration of Commerzbank’s asset management business which includes €16 billion of assets under management and the ComStage suite of ETFs. The combined entity offers one of Europe’s largest ETF ranges, with over 300 products. Lionel Paquin, CEO of Lyxor Asset Management, said, “With a platform founded on ETF expertise and innovation, active asset management and a deep understanding of the German retail market, I am convinced that together we will be even better placed and better equipped to support our clients as their needs evolve”.

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Latest news

Guinness Atkinson smart transportation ETF

Guinness Atkinson debuts with smart transport ETF

Guinness Atkinson Asset Management has become the latest entrant to the ETF industry with the launch of an actively managed thematic strategy targeting companies shaping the future of transportation. Introduced under the firm’s newly formed ‘SmartETFs’ platform, the SmartETFs Smart Transportation & Technology ETF (MOTO US) seeks long-term capital appreciation by investing in firms that are involved in the delivery of products or services relating to autonomous and electric vehicles. The fund has listed on NYSE Arca.

Hany Rashwan, CEO of Amun

Amun expands crypto offering with Tezos ETP

Amun, a Switzerland-based issuer of exchange-traded products linked to crypto assets, has announced the launch of the Amun Tezos ETP (AXTZ SW) on SIX Swiss Exchange. The ETP provides exposure to the performance of Tezos while also earning investors a passive income. Hany Rashwan, CEO of Amun, commented, “For the first time, institutions, as well as retail investors, can invest in the public blockchain, the Tezos network with a Proof of Stake concept and consensus mechanism via our ETP”.

SSGA introduces euro hedging for EM local currency bond ETF

SSGA introduces euro hedging for EM local currency bond ETF

State Street Global Advisors has introduced a currency-hedged share class for its SPDR Bloomberg Barclays Emerging Markets Local Bond UCITS ETF, offering exposure to local currency emerging markets debt while mitigating the effect of foreign exchange movements for euro-referenced investors. The new share class hedges international currency exposures relative to the euro on a monthly basis using one-month forward rates. It has listed on Xetra (SPFD GY) and Borsa Italiana (EMDE IM) and comes with an expense ratio of 0.60%.

WisdomTree launches actively managed mortgage bond ETF

WisdomTree launches actively managed mortgage bond ETF

WisdomTree has launched a new actively managed ETF providing exposure to the mortgage-backed sector. The WisdomTree Mortgage Plus Bond Fund (MTGP US) has listed on NYSE Arca and is sub-advised by Voya Investment Management. The ETF primarily targets agency-backed MBS but may also seek opportunities in other sectors of the securitized debt market. Rick Harper, Head of Fixed Income and Currency at WisdomTree, commented, “We believe MTGP may be a compelling strategic option for investors seeking a generally more stable source of income”.

Fixed Income

BNP Paribas builds out ESG euro credit ETF range

BNP Paribas builds out suite of socially responsible euro credit ETFs

BNP Paribas Asset Management has listed a pair of ETFs on Euronext Paris providing exposure to euro-denominated corporate bonds from issuers with low carbon footprints and favourable ESG characteristics. The BNP Paribas Easy € Corp Bond SRI Fossil Free 1-3Y UCITS ETF (SRIC3 FP) provides exposure to bonds with remaining maturities of one to three years, while the BNP Paribas Easy € Corp Bond SRI Fossil Free 3-5Y UCITS ETF (SRIC5 FP) covers the three-to-five-year maturity segment. The funds come to market with assets of €240m and €54m respectively.

BlackRock introduces USD-hedged share class for China CNY bond ETF

Van Eck launches "dim sum" bond ETF

BlackRock has introduced a new share class for the iShares China CNY Bond UCITS ETF providing currency-hedged exposure to renminbi-denominated government and policy bank bonds issued in China. The new share class, which hedges exchange rate risk between renminbi and the US dollar, trades on Euronext Amsterdam under the ticker CYBU NA.

Alternatives / Multi-Asset

BNP Paribas unveils sustainable real estate ETF

BNP Paribas unveils sustainable real estate ETF

BNP Paribas Asset Management has unveiled the world’s first sustainable real estate ETF, the BNP Paribas Easy FTSE EPRA/NAREIT Developed Europe ex UK Green UCITS ETF, providing exposure to the most environmentally friendly REITS listed in developed mainland Europe. The fund has listed on Euronext Paris (GREAL FP) and Xetra (EEPG GY) and debuts with assets of €138m. Isabelle Bourcier, Head of Quantitative & Index at BNP Paribas Asset Management, commented, “We are building on our strong track record in this asset class by offering clients a new efficient exposure to listed real estate assets with sustainable considerations.”

Goldman Sachs cross lists ETFs on SIX Swiss Exchange

Goldman Sachs lists ETFs on SIX Swiss Exchange

Goldman Sachs Asset Management has cross-listed its European domiciled ETFs onto SIX Swiss Exchange. They include two equity funds and one fixed income fund. Pascal Mischler, Head of Goldman Sachs Asset Management’s Client Business in Switzerland, commented, “This is a significant addition to our Swiss product offering and we are tremendously excited to enter the fast-growing European ETF market.”

Commodities

Gold ETF inflows strong in October

Gold ETF inflows strong in October

Global gold-backed ETFs (including ETPs) recorded $1.9 billion of net inflows in October, swelling their collective holdings by 44.4 tonnes to a new record high of 2,900t, according to World Gold Council.

SSGA lists SPDR Gold MiniShares ETF in Japan

Rory Tobin, Head of the Global SPDR ETF Business at SSGA

State Street Global Advisors (SSGA) has cross-listed the SPDR Gold MiniShares (GLDMSM JP) on Tokyo Stock Exchange. The fund, which was first launched on NYSE Arca in June 2018, provides physically-backed exposure to gold. Rory Tobin, Head of the Global SPDR ETF Business at SSGA, commented, “The SPDR Gold MiniShares ETF offers a cost-effective, efficient, and highly liquid solution for investors seeking to access the risk-adjusted returns that physically-backed gold products can bring to a portfolio.”

Equities

The state of global investing

Dimitras Melas MSCI

By Dimitris Melas, Managing Director and Global Head of Core Equity Research, MSCI.

Over the last few decades, increasing global economic and financial integration promoted economic development and enabled investors to seek opportunities and spread risks across national borders.

Defiance launches thematic ETF on food technology

Paul Dellaquila, President of Defiance ETFs

Defiance ETFs, a provider of thematic ETFs targeting disruptive trends, has launched a new fund providing exposure to firms that are leaders in food-related technology. The Defiance Next Gen Food and Agriculture ETF (DIET US) has listed on NYSE Arca and comes with an expense ratio of 0.30%. Paul Dellaquila, President of Defiance ETFs, commented, “One of the most important challenges facing the world right now is finding ways to massively increase global food supply in a way that also manages environmental impacts and meets the needs of an increasingly health-conscious consumer.”

What to make of the stock market’s climb to a new all-time high

Matthew J Bartolini, Head of SPDR Americas Research

By Matthew J. Bartolini, Head of SPDR Americas Research, State Street Global Advisors.

The S&P 500 Index touched a new all-time high at the end of October, its fifteenth of the year. These 15 new all-time highs appear to be a lot, but they pale in comparison to the 63 new highs the market touched in 2017 when it was gripped with reflation euphoria following the 2016 election.

ETF and Index News

Non-transparent active ETFs get regulatory nod

David Mann, Head of Capital Markets, Global Exchange-Trade Funds, at Franklin Templeton Investments

By David Mann, Head of Capital Markets, Global Exchange-Traded Funds, at Franklin Templeton Investments.

The menu of types and styles of exchange-traded funds available to investors keeps growing. The Securities and Exchange Commission just approved four proposals for a new type of exchange-traded fund: non-transparent, active ETFs.

SEC grants preliminary approval for semi-transparent active ETFs

SEC grants preliminary approval for semi-transparent active ETFs

The U.S. Securities and Exchange Commission has granted preliminary exemptive relief to asset managers T. Rowe Price, Fidelity and Natixis and turnkey ETF provider Blue Tractor to offer semi-transparent exchange-traded funds. The relief paves the way for the firms to issue ETFs that employ an actively managed investment approach without being subject to a daily portfolio transparency condition.

CI Financial acquires WisdomTree’s Canadian ETF business

Kurt MacAlpine, CEO of CI Financial

Toronto-headquartered CI Financial has agreed to acquire WisdomTree Asset Management Canada, the Canadian ETF business of WisdomTree Investments. The transaction will see CI Financial add 14 WisdomTree ETFs collectively housing approximately C$960 million to its ETF family. Kurt MacAlpine, CEO of CI Financial, commented, “As Canadians increasingly adopt the ETF structure, the addition of WisdomTree’s Canadian operations will expand our line-up of mandates and increase the scale of our ETF business”.