Since the assets under management in the global ETF industry are highly concentrated on different levels (domicile, promoter, classification) it is not surprising that the assets under management are also highly concentrated on the custodial level. The high concentration of the assets under custody might raise concerns about the competition between the different custodians. With regard to this, I would agree that a high concentration of assets at a single company in the ETF ecosystem/value chain should raise the attention of market observers and authorities since such a situation can cause some market and/or systemic risk.   Chart 1: ETF

Despite the deteriorating situation with regard to the COVID-19 pandemic in some parts of Europe, March 2021 was another positive month for the European fund industry since the promoters of mutual funds (+€24.1 bn) and ETFs (+€16.6 bn) enjoyed inflows. The overall flow pattern in Europe has further normalized, as investors in Europe continued to be in risk-on mode in March. In more detail, investors bought further into risky assets as long-term funds (€39.9 bn) and money market products (€0.8 bn) enjoyed estimated net inflows. Equity funds (+€36.5 bn) were by far the best-selling asset type overall for March. The

European investors switched to a risk-off mode in March due to the global outbreak of the coronavirus and a possible recession caused by the lockdowns in a high number of countries around the world. As a result, investors faced an increased volatility on the global equity markets. Long-term mutual funds posted overall net outflows for the month. Commodity funds (+€2.2 bn) were the only asset type with net inflows for March. Conversely, bond funds (-€134.9 bn) faced the highest outflows overall, bettered by equity funds (-€48.9 bn), mixed-assets funds (-€38.7 bn), alternative UCITS funds (-€27.7 bn), real estate funds (-€1.5

On March 26, 2020, BNY Mellon announced that Nick Clay, one of the UK’s best known equity income fund managers will be leaving the organisation. He is leaving with a number of his team to join a competitor. Mr. Clay currently runs the £5.2 billion (as at March 26, 2020) BNY Mellon Global Income Fund. In this podcast, Ilga Haubelt, recently appointed Head of Equity Income at Newton and Jon Bell, co-fund manager of the BNY Mellon Global Income Fund, outline how they intend to mitigate the potential impact of these departures. Running Order Run Time Topic 00:40 Ilga, you

In this podcast, Shamik Dhar, Chief Economist at BNY Mellon IM outlines the potential broad economic implications of the developing Coronavirus crisis. Within the context of this unfolding “human tragedy”, Shamik considers the buy- and sell-side effects of this shock, outlines the efficacy of policy responses and assesses the potential impact the crisis might have on long-established economic theories and relationships.   Running Order Run Time Topic 00:20 How do you go about interpreting this complex human crisis in economic terms? 02:19 How do economic shocks such as this manifest themselves over different periods of time? 05:20 What are your

In this podcast, Shamik Dhar, Chief Economist at BNY Mellon IM provides a summary of the macroeconomic issues he considers most material in 2018 and discusses how this is formulating his views as we move into 2019. Shamik also outlines some of the key issues and risks investors might consider in the New Year. Running Order Run Time Topic 00:20 What is your economic assessment of 2018 so far? 00:50 What do you see as the potential materially influential economic factors for 2019? 01:55 Where are we in the economic cycle? Are we “late cycle”? 02:50 Where do investment opportunities

The thirteenth annual Lipper Alpha Expert Forum was held in London on November 8, 2018 and maintained its reputation as one of the European mutual fund industry’s premier thought-leadership events. We welcomed some of the preeminent fund industry executives in Europe to share their views on key developments and challenges facing the industry today. Once again we partnered with the Chartered Institute of Securities and Investment–the leading professional investment body in the U.K.–as our co-hosts, and a full house in the Thomson Reuters Auditorium ensured a lively debate. Future directions for fund groups Lipper’s Jake Moeller moderated the morning’s first panel

European Fund-Flow Trends, July 2017 July was the seventh consecutive month showing a positive picture for long-term mutual funds. European fund promoters enjoyed net inflows into equity funds (+€19.1 bn), followed by bond funds (+€17.1 bn), mixed-asset funds (+€10.3 bn), alternative UCITS funds (+€5.3 bn), and commodity funds (+€0.3 bn) as well as real estate funds (+€0.1 bn). Meanwhile, “other” funds (-€1.3 bn) faced net outflows. These fund flows added up to overall net inflows of €51.1 bn into long-term investment funds for July. ETFs contributed €7.8 bn to these flows. Money Market Products In line with long-term products money

Simon Derrick, Head of Market Strategy at BNY Mellon, talks with Jake Moeller, Head of Lipper UK & Ireland Research – Refinitiv in London on November 3, 2016. 2016 has been a roller coaster year for investors with commodities led trauma in Q1 followed by uncertainty and volatility. Throw a “Brexit” outcome for the UK and Europe and a US Presidential election into the mix and there is much to digest as we move towards the New Year. In this podcast, Simon Derrick discusses: Key events of 2016 and macro impacts “Brexit” and the re-appointment of Mark Carney Central bank policy