| |  | | NEWSLETTER | 6 Mar 2020 |
 | | FCA under repeated assault and markets continue to experience volatility
The week brings another call over the effectiveness of the UK’s financial services’ regulators, with PIMFA publishing its white paper entitled, ‘Is the FCA fit for purpose?’. The paper comes after the publication last week of the True and Fair Campaign’s report criticising the FCA and specifically questioning FCA CEO Andrew Bailey’s fitness to be the next governor of the Bank of England.
Last Friday’s news was that the Treasury Select Committee is to scrutinise Andrew Bailey’s suitability for that role.
That day also saw the end of a tumultuous week for financial markets, with losses across the board and the US’s Fed forced into making its first ‘emergency’ cut in rates since the financial crisis.
ETF Logic reports that ETFs experienced massive trading volumes at USD414 billion during the week which made up close to 43 per cent of all equity trading. Equity ETFs experienced massive outflows as investors looked to exit the markets during the panic, the firm writes.
An extraordinary fact from ETF Logic records that SPY lost over USD10.7 billion over the week. And all in a very orderly way. Much of the criticism and scepticism of ETFs has been that they will cause systemic collapse in the markets in the event of a huge sell-off but all seems to have been calm, if a little busy, over the last week of February.
Slightly more gentle news comes this week from the Cass Business School, specifically Professor Andrew Clare, chair in Asset Management, whose study reveals that boutique fund managers outperform their larger counterparts.
Finally, please vote in the Wealth Adviser European Awards 2020. Everything you need to know is here…
Enjoy!
Beverly Chandler
Managing Editor, Wealth Adviser
Companies in this issue
Cass Business School
BlackRock
ETFLogic
Franklin Templeton
KraneShares
PIMFA
True and Fair Campaign
UBS Asset Management
WisdomTree
| | | | Is the FCA fit for purpose? asks PIMFA White Paper | | Thu | 5 Mar 2020, 12:49 | | PIMFA, the trade association for the investment services and financial advice industry, has published a paper on the future of supervision entitled 'FCA Supervision – fit for purpose?' |
| | | | Study finds European boutiques outperform their larger peers | | Thu | 5 Mar 2020, 12:49 | | Fresh academic research from Professor Andrew Clare, Chair in Asset Management at Cass Business School, reveals that specialist, boutique asset managers in Europe outperform their larger counterparts – significantly so in the case of European Mid/Small Cap and Global Emerging Market funds. |
| | | | Markets face falls equivalent to 2008 levels | | Thu | 5 Mar 2020, 12:49 | | A tumultuous week for financial markets has seen the rapid spread of the coronavirus have a severe effect, with analysts predicting that if the outbreak turns into a full-blown global pandemic, it could be as bad as during the financial crisis, when global GDP fell by 0.5 per cent. |
| | | | | | | | Global ETF launches 27.02-05.03 | | Thu | 5 Mar 2020, 12:49 | | There’s a bit of a green tint to this week’s new ETF launches with the expansion of BlackRock’s ESG range with the addition of three new funds offering ESG-focused alternatives to existing ETFs, plus a new WisdomTree fund offering investors access the opportunity to invest in companies from the battery and energy storage solutions (BESS) sector. Elsewhere, UBS Asset Management has debuted a new China A shares ETF, while The Royal Mint Physical Gold Securities ETC has listed on Xetra… |
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