Only gold profits from Fed decision Energy: Events on the oil market continue to be characterized by high levels of volatility, oil prices once again repeatedly fluctuating by $1-1.5 during the course of trading yesterday. It is virtually impossible to identify any clear trend at the moment, though in our opinion the bullish factors are likely to predominate in the medium term. In recent days, we have made frequent reference to an imminent tightening of non-OPEC supply, which should help restore the balance on the oil market as early as next year. The outlook on the demand side has also brightened considerably of late, however. The already strong demand from China should even derive further positive impetus from the stimulus measures implemented by the government and central bank. We also believe that the latest fall in car registrations in China, which gave rise to negative sentiment recently, was due above all to psychological factors and will soon be reversed. China reported today that real estate prices in major cities in August rose again for the most part (sharply in some cases). In addition, the Chinese stock markets appear to be stabilizing. The impact of the interest rate decision taken by the US Fed on sentiment among oil investors should not be underestimated either, nor should the way international financial markets and foreign exchange markets have reacted to it. The fact that the US Fed has expressed explicit concern about a strong US dollar should limit the greenback’s upside potential. A weaker US dollar is frequently accompanied by a rising oil price.
Precious metals: The gold price climbed to a two-week high of a good $1,130 per troy ounce yesterday evening on the back of a depreciating US dollar. As we had anticipated, the US Federal Reserve chose not to raise interest rates yet yesterday. The latest turmoil in the emerging markets, the increased volatility on the financial markets and the low rate of inflation in the US were doubtless what prompted the Fed to leave interest rates unchanged.
Furthermore, Fed Chair Yellen emphasized the negative impact of the strong US dollar on inflation, and also gave no clear indication that a rate hike might be imminent. Nonetheless, she did make reference to the fact that a majority of FOMC members expect interest rate hikes to begin before the year is out. Our economists believe that these are more likely to start in December than in October because a whole series of additional economic data – labour market reports in particular – will then be available to enable a better appraisal of the situation. Until such time as a first rate hike is made, we expect the gold price to continue trending sideways within a relatively narrow trading band, as it has done in recent weeks.
Meanwhile, physical gold demand in India is clearly weak: according to trading sources, the discount on gold prices there as compared with world market prices in London already amounted to as much as $10 per troy ounce this week, which is surprising given that the festival season is just around the corner.
Det betyder att det går att handla andelar i denna ETF genom de flesta svenska banker och Internetmäklare, till exempel Nordnet, SAVR, DEGIRO och Avanza.
Amundi S&P Global Health Care ESG UCITSETF DR EUR (D) (WELG ETF) med ISIN IE000JKS50V3, strävar efter att spåra S&P Developed Ex-Korea LargeMidCap Sustainability Enhanced Health Care-index. Det S&P-utvecklade ex-Korea LargeMidCap Sustainability Enhanced Health Care-indexet spårar stora och medelstora företag från hälso- och sjukvårdssektorn. Aktierna som ingår filtreras enligt ESG-kriterier (miljö, social och bolagsstyrning).
Den börshandlade fondens TER (total cost ratio) uppgår till 0,18 % p.a. Amundi S&P Global Health Care ESG UCITSETF DR EUR (D) är den billigaste ETF som följer S&P Developed Ex-Korea LargeMidCap Sustainability Enhanced Health Care-index. ETFen replikerar det underliggande indexets prestanda genom fullständig replikering (köper alla indexbeståndsdelar). Utdelningarna i ETFen delas ut till investerarna (Årligen).
Amundi S&P Global Health Care ESG UCITSETF DR EUR (D) är en mycket liten ETF med 17 miljoner euro förvaltade tillgångar. ETFen lanserades den 20 september 2022 och har sin hemvist i Irland.
Investeringsmål
AMUNDI S&P GLOBAL HEALTH CARE ESG UCITSETF DR – EUR (D) försöker replikera, så nära som möjligt, resultatet av S&P Developed Ex-Korea LargeMidCap Sustainability Enhanced Health Care Index (Netto Total Return Index). Denna ETF har exponering mot stora och medelstora företag i utvecklade länder. Den innehåller uteslutningskriterier för tobak, kontroversiella vapen, civila och militära handeldvapen, termiskt kol, olja och gas (inkl. Arctic Oil & Gas), oljesand, skiffergas. Den är också utformad för att välja ut och omvikta företag för att tillsammans förbättra hållbarhet och ESG-profiler, uppfylla miljömål och minska koldioxidavtrycket.
Det betyder att det går att handla andelar i denna ETF genom de flesta svenska banker och Internetmäklare, till exempel DEGIRO, Nordnet, Aktieinvest och Avanza.
Amundi Global Corporate Bond UCITSETF investerar globalt i företagsobligationer med fast ränta, denominerade i lokal valuta och har en investment grade-rating. De måste ha en återstående löptid på minst ett år.
Andelsklassen är valutasäkrad mot amerikanska dollar och delar ut avkastningen.
Produktutbudet inom Deutsche Börses ETF- och ETP-segment omfattar för närvarande totalt 2 405 ETFer, 198 ETCer och 256 ETNer. Med detta urval och en genomsnittlig månatlig handelsvolym på mer än 21 miljarder euro är Xetra den ledande handelsplatsen för ETFer och ETPer i Europa.