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NEWSLETTER | 07 Jul 2023

Our latest podcast, in association with TrussEdge, was published this week, with Stephen Carson of A&L Goodbody, Ben Slavin from BNY Mellon and Athanasios Psarofagis from Bloomberg talking about the development that has appeared on both sides of the pond, concerning ETFs as a share class within multi asset funds. Our speakers explained the new developments in both the US and Europe and hazarded opinions on what this might mean for the industry.

Seeking enlightenment? Listen to the podcast here.

This week was recovery week for me, as I returned from IMPower FundForum’s Monte Carlo event, having just previously been in Canada, hosting our inaugural ETF Express Canadian awards. The special report for the Canadian awards will be published in the coming week and I managed to comment on IMPower FundForum’s outing this year in a story published from the venue. ETFs are set to dominate was a clear message from conversations held around the event, and not just from proponents of the industry.

The Index Industry Association’s annual global asset manager survey was published this week and revealed widening factors driving a maturing ESG landscape. "Our survey seeks to help index providers better understand the needs of the asset management community and provide benchmarks and indexes that better meet their needs," says IIA CEO Rick Redding. "Our survey results affirm that asset managers continue to prioritise ESG criteria in making investment decisions and demonstrate the managers’ desire for more, and more accurate, ESG data."

Also in the news this week was the FCA’s proposals for a UK consolidated tape, in what the body describes as "a series of measures to help strengthen the UK’s leading position as a global and vibrant financial centre".

Jim Goldie, Head of EMEA ETF Capital Markets at Invesco, comments that it should include ETFs alongside equities. Goldie says: "It is important that the UK consolidated tape is as near real-time as possible and includes ETFs alongside equities in one tape, similar to the EU consolidated tape. It is also important that it includes venue attribution, unlike the EU consolidated tape."

Beverly Chandler, Managing Editor

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The Index Industry Association (IIA) has released its ESG Global Survey of Assert Managers. IIA partnered with Opinium Research to survey 300 CIOs, CFOs, and portfolio managers from the UK, US, Germany, and France.

ETFs as a share class

The latest development which spans Europe and the US is ETFs as a share class. Listen to Stephen Carson, partner, A&L Goodbody; Ben Slavin, Global Head of ETFs, Asset Servicing at BNY Mellon and Athanasios Psarofagis, ETF Analyst, Bloomberg Intelligence, discuss the technicalities of this from both side of the pond.

The IMPower Fund Forum conference in Monte Carlo, the largest fund management event in Europe, saw ETF Express managing editor, Beverly Chandler, speaking and hosting on a series of ETF panels. Traditionally the conference of choice for the fund industry generally, it was interesting to see that ETFs are seeing greater adoption and a higher profile in meetings and sessions here.