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Performance And Costs Of Retail Investment Products In The Eu
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Book Synopsis Performance and Costs of Retail Investment Products in the EU by :
Download or read book Performance and Costs of Retail Investment Products in the EU written by and published by . This book was released on 2022 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The ESMA Annual Statistical Report 2022 provides an update on the performance and costs of EU retail investment products for 2020, which have been substantially affected by the COVID-19 pandemic. This update and our indicators for cost and performance between 2011 and 2020 cover Undertakings for Collective Investment in Transferable Securities (UCITS), Alternative Investment Funds (AIFs), and Structured Retail Products (SRPs). Compared with the 2021 edition, this report is enhanced by a more in-depth analysis on cross-border funds, additional analysis on UCITS following environmental, social and governance (ESG) strategies, analysis on the performance of retail AIFs and the study of performance and costs of SRPs based on Packaged Retail Investment and Insurance Products' Key Information Documents (PRIIPs KID). Improvements in the data continue, but significant data issues persist.
Book Synopsis Costs and Performance of EU Retail Investment Products 2023 by :
Download or read book Costs and Performance of EU Retail Investment Products 2023 written by and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Our 2023 ESMA Statistical Report on Costs and Performance of EU Retail Investment Products provides an overview of key developments up to end-2021, a year characterised by economic recovery, increasing financial market valuations and mounting inflationary pressures. Since then, investment markets have undergone a pronounced downturn, mainly associated with the Russian war against Ukraine, the related turmoil affecting the energy market and the sharp change in monetary conditions. These recent developments, occurred after the reporting period of the current costs and performance report, cannot be reflected in the report. They are covered, however, in our semi-annual publications on Trends, Risks and Vulnerabilities (TRV) and our ad-hoc Risk Updates. Building on our past cost and performance reports, this year's analysis covers Undertakings for Collective Investment in Transferable Securities (UCITS), Retail Alternative Investment Funds (Retail AIFs), and Structured Retail Products (SRPs). Compared with the 2022 edition, we provide a more in-depth analysis on the effects of growing inflation on investment, the UCITS following environmental, social and governance (ESG) strategies, the performance of retail AIFs and the performance and costs of SRPs based on Packaged Retail Investment and Insurance Products' Key Information Documents (PRIIPs KIDs). Improvements in data availability continue, but significant data issues persist.
Book Synopsis Performance and Costs of Retail Investment Products in the EU by :
Download or read book Performance and Costs of Retail Investment Products in the EU written by and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2020 ESMA Annual Statistical Report on the Performance and Costs of Retail Investment Products in the EU provides a comprehensive overview of the EU retail investment products in the period from 2009 to 2018. Undertakings for Collective Investment in Transferable Securities (UCITS) represent the largest investment fund sector in the EU, with more than EUR 9tn assets. Our sample covers two thirds of the market with more than EUR 6tn assets, of which above EUR 4tn are held by retail investors. Alternative investment funds (AIFs) follow with EUR 5.8tn, of which around EUR 1tn are held by retail investors (Retail AIFs). Structured Retail Products (SRPs) are the smallest market, with 6 million contracts and a value of EUR 400bn outstanding. Compared to the 2019 edition, we have further enhanced the report by enlarging the scope of the UCITS analysis. In particular, we provide an improved methodology, an analysis of performance and costs based on risk categorisation and an analysis of management fees. For retail AIFs, there is a preliminary analysis of gross performances. Despite progresses in data coverage and quality, challenges, including cross-EU heterogeneity in cost treatment, unavailability of cost data for AIFs and SRPs and limitations on data comparison across EU Member States, remained. No harmonised regulatory data are available for UCITS and SRPs.
Book Synopsis Performance and Costs of Retail Investment Products in the EU by :
Download or read book Performance and Costs of Retail Investment Products in the EU written by and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first edition of the ESMA ASR series on cost and past performance of retail investment products in the EU. In the EU around 30,000 undertakings for collective investment in transferable securities (UCITS) investment funds are distributed, around 10,000 alternative investment funds sold to retail investors (retail AIFs) and around five million structured retail products (SRPs). UCITS hold 76% of overall share in terms of retail market size compared to 15% and 9% for retail AIFs and SRPs. This report provides a comprehensive overview of the EU markets and, for UCITS, a country-by-country analysis covering the period from 2008 to 2017. As a first edition it also identifies a series of data issues impacting the scope and content of our current analysis. Those include the unavailability of important cost data elements such as a part of distribution costs, transaction costs, performance fees, a lack of data granularity as well as the heterogeneity of data availability and content across Member States. Moreover, no distinction is made between the risk levels of products. We highlight that significant challenges remain, especially in the context of country-by-country analysis. This first edition focuses on UCITS - the most transparent market in terms of cost and performance disclosure. Here we undertake, subject to the limitations highlighted above, a full performance and cost analysis. For retail AIFs and SRPs the report focuses on providing an overview of the respective markets.
Book Synopsis Distribution Systems of Retail Investment Products Across the European Union by :
Download or read book Distribution Systems of Retail Investment Products Across the European Union written by and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The general objective of the Study is to provide facts and figures on the current features and functioning of European markets for retail investment products, analysing specifically: - The supply of retail investment products through various distribution channels; - The access to financial advice by retail investors and related risks and benefits; - The impact of on-line distribution on the retail investment offering, notably on the breadth and terms of the offer, and on investor protection; and - The risks and benefits of new distribution models developed by FinTech companies. The Study covers 15 Member States chosen based on market size, date of integration into the European Union (EU), and the variety of specific policy frameworks in place: Belgium, Czech Republic, Denmark, Estonia, France, Germany, Italy, Luxembourg, the Netherlands, Poland, Portugal, Romania, Spain, Sweden and the United Kingdom (UK). The Study covers different types of investment advice: independent advice (e.g. through an Independent Financial Advisor (IFA) in a country with a ban on inducements), non-independent advice (e.g. through an advisor of a bank or insurer) as well as robo-advice (i.e. through an automated web-based platform). Investment products in scope of the Study are investment funds, listed bonds and equities, life insurance products with investment components and pension products. The tender requirements were posing specific methodological challenges as this study had to cover different types of investments products that fall under different regulations. We were not able to identify a suitable existing methodology which would set a common framework for all types of products and related regulations across the countries in scope. As a result, we needed to develop a methodology specifically for this project that would allow for a coherent study of the distribution of different types of investment products to retail investors. A major element of the methodology was the application of two data collection methods that explicitly mimicked the behavior of a financially less sophisticated retail investor seeking for information and advice on investment products. As part of this methodology, we searched for information on investment products on the webpages of the largest distributors in each country in scope of the study and we conducted over 500 mystery shops at banks, insurance companies, independent financial advisors (IFAs) and robo-advisors across 10 out of 15 Member States in scope. Through this, we were able to collect information on the types of products actively proposed to retail investors and to assess how general suitability of the proposed investment products was established. The data collection for this project has been performed over the course of 2017, before the entry into force of several regulatory changes that are likely to impact the market.
Book Synopsis EU Equity Retail Funds by : Michal Mešťan
Download or read book EU Equity Retail Funds written by Michal Mešťan and published by . This book was released on 2019 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: This research paper is part of BETTER FINANCE's annual #FundResearch project, an umbrella research activity aimed at providing qualitative and quantitative assessments of the EU market for retail investment funds, focusing on Undertakings for Collective Investment in Transferable Securities (UCITS) and Alternative Investment Funds (AIFs). This paper compares mutual fund returns with their market index (benchmark) and analyses the relationship between the main factors impacting fund performance and the ability to deliver returns higher than the market.
Book Synopsis Cost and Past Performance Report 2021 by :
Download or read book Cost and Past Performance Report 2021 written by and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In line with the European Commission's Request1 to the European Supervisory Authorities (ESAs) to periodically report on the cost and past performance of retail investment products, this report provides an analysis of costs - for the year 2019 - and past performance - for the period 2015-2019. The products within scope for this iteration of the report by European Insurance and Occupational Pensions Authority (EIOPA) are: Insurance-based Investments Products (IBIPs) and Personal Pension Products (PPPs). The report covers the European Union (EU) markets until 2019 and excludes UK, being most of the analysis based on ad-hoc data collection developed after the UK Brexit final decision.
Book Synopsis EU Securities and Financial Markets Regulation by : Niamh Moloney
Download or read book EU Securities and Financial Markets Regulation written by Niamh Moloney and published by Oxford University Press. This book was released on 2023-03-29 with total page 993 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the decade or so since the global financial crisis rocked EU financial markets and led to wide-ranging reforms, EU securities and financial markets regulation has continued to evolve. The legislative framework has been refined and administrative rulemaking has expanded. Alongside, the Capital Markets Union agenda has developed, the UK has left the EU, and ESMA has emerged as a decisive influence on EU financial markets governance. All these developments, as well as the Covid-19 pandemic, have shaped the regulatory landscape and how supervision is organized. EU Securities and Financial Markets Regulation provides a comprehensive, critical, and contextual account of the intricate rulebook that governs EU financial markets and its supporting institutional arrangements. It is framed by an assessment of how the regime has evolved over the decade or so since the global financial crisis and considers, among other matters, the post-crisis reforms to key legislative measures, the massive expansion of administrative rulemaking and of soft law, the Capital Markets Union agenda, the development of supervisory convergence as the means for organizing pan-EU supervision, and ESMA's role in EU financial markets governance. Its coverage extends from capital-raising and the Prospectus Regulation to financial market intermediation and the MiFID II/MiFIR and IFD/IFR regimes, to the new regulatory regimes adopted since the global financial crisis (including for benchmarks and their administrators), to retail market regulation and the PRIIPs Regulation, and on to the EU's third country regime and the implications of the UK's departure from the EU. This is the fourth edition of the highly successful and authoritative monograph first published as EC Securities Regulation. Heavily revised from the third edition to reflect developments since the global financial crisis, it adopts the in-depth contextual and analytical approach of earlier editions and so considers the market, political, institutional, and international context of the regulatory and supervisory regime.
Book Synopsis Study on Options for Development of Online Tools and Services Supporting Retail Investors in Investment Decisions by :
Download or read book Study on Options for Development of Online Tools and Services Supporting Retail Investors in Investment Decisions written by and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Capital Market Union aimed at invigorating the participation of retail investors in the financing of the economy together with other policy objectives. However, EU citizens still face difficulties when planning to invest in financial products (e.g. investment fund, life insurance or private pension product), that meet their life needs and expectations. Despite all efforts and documentation, gathering independent and comparable information on product features is still perceived as a challenge for most investors. From the entire universe of potential aids to investing, the one most efficient would be to focus on the ways to provide a practical solution to increase transparency and comparability of retail financial products, that could be accelerated with the creation of an investor products hub (i.e. a database), containing complete, correct and independent information about all managed financial products available across EU capital markets. To be most efficient, that investor product hub should rely on existing information and recycle it where and if possible. At a high-level, the database would be operated by a single public body and accessible for free by retail investors as well as financial professionals and academics, the latter for research purposes. This report proposes a description of existing product disclosure platforms, it further describes high level technical and functional requirements for the creation of the hub, including a high level implementation roadmap as well as regulatory amendments that should be envisaged to facilitate the development of the tool. If feasible, the scope and depth of coverage of this retail investor products hub represent challenges both in terms of creation and maintenance. Nevertheless, it has the potential to materially increase retail investors' level of information on financial products available to them whilst limiting legal and regulatory hurdles.
Book Synopsis The Packaged Retail and Insurance-Based Investment Products (Amendment) (EU Exit) Regulations 2019 by : GREAT BRITAIN.
Download or read book The Packaged Retail and Insurance-Based Investment Products (Amendment) (EU Exit) Regulations 2019 written by GREAT BRITAIN. and published by . This book was released on 2019-01-15 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: Enabling power: European Union (Withdrawal) Act 2018, s. 8 (1), sch. 7, para. 21 (b). Issued: 15.01.2019. Sifted: -. Made: -. Laid: -. Coming into force: In accord. with reg. 1 (2). Effect: S.I. 2017/1127 amended. Territorial extent & classification: E/W/S/NI. EC note: These regs amend: Regulation (EU) no .1286/2014; Commission Delegated Regulation (EU) 2016/1904. For approval by resolution of each House of Parliament
Book Synopsis The European Capital Markets Union by : Andreas Dombret
Download or read book The European Capital Markets Union written by Andreas Dombret and published by Walter de Gruyter GmbH & Co KG. This book was released on 2015-07-31 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt: In March 2015, the Institute for Law and Finance in Frankfurt am Main held a full-day symposium which brought together leading representatives of the public and private sectors to deliver the first high level response to the questions posed by the Commission’s Green Paper on Building a Capital Markets Union. These responses are collected in this volume.
Book Synopsis Playing the Market by : Kieran Heinemann
Download or read book Playing the Market written by Kieran Heinemann and published by Oxford University Press. This book was released on 2021 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: Nowhere in Europe are people more likely to enjoy a regular flutter in stocks and shares than in Britain. Whether we consider the millions of online stockbroking accounts or the billions spent on spread betting - it is a national pastime in today's Britain to play the markets. How did this distinctively British obsession with investment and speculation come about? Playing the Market tells this story by exploring the history of financial capitalism in Britain during the twentieth century from below. It explains how and why everyday British people increasingly invested, speculated, and gambled in stocks and shares from the outbreak of World War I, over the postwar decades and the Thatcher years, up until the premiership of Tony Blair. The study accounts for a momentous shift in attitudes towards stock market investment that occurred throughout the twentieth century. In the interwar period, traditional moral and cultural constraints about the stock market, which were still powerful in the Victorian period, gradually began to collapse in public and private life. In the following decades, financial securities lost their stigma of being either immoral or suitable only for the upper classes. Promising higher than average returns and a similar thrill of risk and reward as gambling in horses or the football pools, the stock market became a popular pastime for millions of Britons - even in the postwar decades, when Britain had nationalized industries and politicians of both parties indulged in staunchly anti-finance rhetoric. With the expansion of popular investment after both world wars, Britain developed a stock market culture that was unique across Europe and gave rise to a market populist sentiment that eventually proved fertile soil for the arrival of Thatcherism.
Book Synopsis The Cambridge Handbook of Investor Protection by : Arthur B. Laby
Download or read book The Cambridge Handbook of Investor Protection written by Arthur B. Laby and published by Cambridge University Press. This book was released on 2022-10-27 with total page 687 pages. Available in PDF, EPUB and Kindle. Book excerpt: The topic of investor protection has occupied investors, businesses, regulators, academics, and courts since the 1930s. The topic exploded in importance after the 2008 financial crisis and the Bernard Madoff Ponzi scheme of the same year. Investor protection scholarship now seeks to respond to developments such as the institutionalization of the markets, the democratization of finance, and the enhanced role of market professionals and other gatekeepers. Additionally, although the philosophy of full disclosure remains the guiding principle behind the securities laws, recent research has questioned the merits of a disclosure-based regime. In light of these trends, regulators try to strike the right balance between imposing a strict investor protection regime, on the one hand, and giving businesses the freedom to innovate new projects, market new services, and reduce costs, on the other. The Cambridge Handbook of Investor Protection brings together leading scholars to inform this debate and fill a gap left by these developments.
Book Synopsis Insurance Distribution Directive by : Pierpaolo Marano
Download or read book Insurance Distribution Directive written by Pierpaolo Marano and published by Springer Nature. This book was released on 2021 with total page 439 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access volume of the AIDA Europe Research Series on Insurance Law and Regulation offers the first comprehensive legal and regulatory analysis of the Insurance Distribution Directive (IDD). The IDD came into force on 1 October 2018 and regulates the distribution of insurance products in the EU. The book examines the main changes accompanying the IDD and analyses its impact on insurance distributors, i.e., insurance intermediaries and insurance undertakings, as well as the market. Drawing on interrelations between the rules of the Directive and other fields that are relevant to the distribution of insurance products, it explores various topics related to the interpretation of the IDD - e.g. the harmonization achieved under it; its role as a benchmark for national legislators; and its interplay with other regulations and sciences - while also providing an empirical analysis of the standardised pre-contractual information document. Accordingly, the book offers a wealth of valuable insights for academics, regulators, practitioners and students who are interested in issues concerning insurance distribution.--
Book Synopsis Constraints and Opportunities in Shaping the Future: New Approaches to Economics and Policy Making by : Luminita Chivu
Download or read book Constraints and Opportunities in Shaping the Future: New Approaches to Economics and Policy Making written by Luminita Chivu and published by Springer Nature. This book was released on with total page 525 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Rethinking Asset Management by : Mirzha de Manuel Aramendía
Download or read book Rethinking Asset Management written by Mirzha de Manuel Aramendía and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Alternative Investment Fund Managers Directive (AIFMD), adopted in 2011, aims to reshape the asset management industry in Europe. Despite often being depicted as the "hedge-fund directive," the AIFMD embodies in substance the basic Europe. The directive paves the ground for investment funds and investment mandates to grow in size and importance as Europe reduces its historical reliance on banks. This report provides a comprehensive assessment of the future of the investment management industry in Europe after the subprime crisis and the subsequent regulatory response. It considers in four separate chapters - Selected issues of financial stability related to investment funds - Product structuring and the use of derivatives in mutual funds - Distribution; investor choice; and investor protection, including disclosure and investment advice; and the contribution of asset management to economic growth, including long-term and responsible investing
Book Synopsis EU Banking and Financial Regulation by : Jean-Baptiste Poulle
Download or read book EU Banking and Financial Regulation written by Jean-Baptiste Poulle and published by Edward Elgar Publishing. This book was released on 2024-03-14 with total page 761 pages. Available in PDF, EPUB and Kindle. Book excerpt: EU Banking and Financial Regulation presents a comprehensive and systematic overview of the major directives and regulations which currently govern the EUÕs banking and finance industries. Offering a depiction of the main EU rules, this timely book not only addresses the various banking and financial legislations relating to EU supervisors, banks and financial markets, but also considers more peripheral issues such as anti-money laundering, whilst referring to important case law.
