Invesco has cross-listed the Invesco NASDAQ Biotech UCITS ETF and Invesco KWB NASDAQ Fintech UCITS ETF on Deutsche Börse Xetra. The funds provide exposure to US-listed stocks from firms operating in the high-growth sectors of biotechnology and financial technology.

Franklin Templeton is set to launch two actively managed fixed income ETFs in Europe. The funds, which will initially list on the Deutsche Börse and LSE, are the Franklin Liberty Euro Short Maturity UCITS ETF and the Franklin Liberty USD Investment Grade Corporate Bond UCITS ETF. David Zahn, head of European fixed income at Franklin Templeton Investments, said, “As active managers, we have the flexibility to pursue investment opportunities that are beyond the fund’s benchmark index to help identify the most attractive securities to invest in.”

Tabula Investment Management is preparing to make its debut with the launch of a range of fixed income ETFs in Europe. The firm’s first ETFs will provide exposure to credit default swap (CDS) indices from IHS Markit. Michael John (‘MJ’) Lytle, CEO of Tabula, commented, “Passive strategies account for only 5% of fixed income fund assets, compared to 30% for equities. We expect this gap to close, but how quickly will depend on how compelling the available funds are.” 

Invesco has completed its acquisition of Guggenheim Investments’ ETF division. The deal follows the company’s recent acquisition of ETF provider Source, and makes Invesco the fourth largest ETF provider globally with ETF AUM over $215bn. Dan Draper, global head of ETFs at Invesco, commented, “We’re excited to add Guggenheim Investments’ complementary ETF business to our existing robust range of factor, smart beta, fixed income and equal weight ETFs.”

The Japanese market has come a long way since the so-called ‘lost decade,’ a period of severe economic stagnation for the country, following the Nikkei 225 index’s plunge from its all-time high of 38,957 in the winter of 1989. Investors seeking to benefit from the country’s ongoing turnaround have a multitude of interesting ETFs to choose from.

Zurich-based index provider STOXX has celebrated the twentieth anniversary of the launch of the bellwether EURO STOXX 50 Index. The index, which preceded the introduction of the euro by 10 months, is considered the de factor performance benchmark for blue-chip euro zone stocks. It is also one of the most widely tracked indices, with around $40 billion in ETF assets referenced to it.

BlackRock has listed a distributing share class on the London Stock Exchange for its recently launched iShares Nasdaq US Biotechnology UCITS ETF. The distributing share class has the ticker BTEE LN and will appeal to investors seeking regular income from the sector.

Invesco has announced that it is moving to a unified global brand. The company will now be referred to as Invesco everywhere it does business with the brands affected by the change being Perpetual, Trimark and Invesco’s ETF business PowerShares. Marty Flanagan, president and CEO of Invesco, said, “Although we are moving to a unified brand, we will preserve the time-tested and distinctive investment perspectives, processes and approaches of our many investment teams across the globe.”

“Bitcoin, and cryptocurrencies more generally, are not a substitute for gold”, concludes the World Gold Council in its latest investment update. While the assertion might not come as a huge surprise, the organisation makes some valid points.

By Nicola Mai, portfolio manager, sovereign credit analyst at PIMCO.
While things look good over the cyclical horizon, investors shouldn’t be complacent about the long-term outlook, as the region is still far from resolving its existential challenges.