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Gold funds shine bright for Indian investors
May 1, 2011-- Indian investors increased their holdings in gold exchange-traded funds (ETFs) as the yellow metal's price soared in the January-March quarter.
The behaviour of Indian as well as European investors was in contrast to those in the US and the UK. Gold ETFs in the US and the UK experienced net redemptions during the period, according to the World Gold Council.
“Redemptions were the highest in the US and London, but most other countries had positive net inflows,” it said in its Investment Digest.
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Source: Business Line
India gold ETF volumes rise 57 pct in Feb, seen jumping
April 29, 2011-- Gold volumes in the Exchange Traded Funds (ETF) in India, the world's largest consumer of bullion, jumped 57 percent on year to 15.077 tonnes in February on rising investor interest in the yellow metal, data from the fund houses showed.
"There has been steady inflow of gold in the fund with increased awareness, and there hasn't been much outflow," said Chirag Mehta, fund manager, Quantum Gold Fund.
Gold on India's Multi Commodity Exchange steadied at 22,257 rupees per 10 grams on Friday, near its previous day's record of 22,349 rupees.
India will celebrate Akshaya Tritiya on May 6 and the wedding season will continue till the end of May. Last year, consumers preferred to buy the yellow metal in electronic form though the festival day fell on a Sunday as exchanges organised a special trading session.
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Source: Reuters
BetaShares U.S. Dollar ETF quadruples in size in a month
BetaShares U.S Dollar ETF (ASX Code: USD) AUM reaches $50 million
USD consistently ranking as one of top three most actively traded ETFs
BetaShares passes $120 million in AUM three months after initial product launch
April 29, 2011--BetaShares Capital Limited (BetaShares) has announced that its US dollar exchange traded fund (ASX Code: USD) has quadrupled in size in the last month
reaching $50 million in assets under management. The strong demand for this product has also resulted in BetaShares reaching another milestone, surpassing $120 million in AUM in just three months post the launch of its initial products.
Listed on 1 February 2011, BetaShares U.S. Dollar ETF tracks the performance of the US dollar (US$) relative to the Australian dollar (A$) using a simple, transparent and highly costeffective
structure backed by US dollars held in a bank account with JP Morgan Chase Bank.
Drew Corbett, Head of Investment Strategy & Distribution at BetaShares said the demand for the U.S. Dollar ETF has exceeded expectations and has consistently ranked as one of the top three most traded ETFs on the Australian Securities Exchange.
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Source: BetaShares
Partial Revision to Listing Regulations to Support Recovery of Corporations and Regions Affected by the Earthquake
April 28, 2011--I. Purpose
The Great East Japan Earthquake and subsequent tsunami along the coast of the Tohoku region caused extensive human and material damage, in addition to significantly affecting corporate activities and performance both in the afflicted regions and the surrounding areas. Widespread infrastructure problems and damaged supply chains have destabilized production, raising concerns of national economic stagnation and a loss of international competitiveness.
Tokyo Stock Exchange (hereinafter "TSE"), as the central market of Japan, is dedicated to supporting the recovery of the affected companies and regions and contributing to the revitalization of the Japanese economy. TSE will implement measures in the listing regulations which will enable flexible handling of companies whose business was impaired by the disaster such as introducing special regulations which take into account the effect of the earthquake. In conjunction with this revision, TSE will also consider the effect of the earthquake in its listing compliance and initial listing operations.
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Source: Tokyo Stock Exchange
Thai Bourse To Trades Silver Futures On June 20 And To Extends Hours In Gold & Silver Futures
April 28, 2011-On June 20, the Thailand Futures Exchange PLC (TFEX), part of The Stock Exchange of Thailand, will begin trading silver futures and extend gold and silver futures trading until 22.30 hours.
“TFEX will complete the joint system test with its members within May and hold seminars from May through July, featuring expert lecturers from overseas and TFEX members, to enhance investors’ knowledge on silver futures trading,” revealed TFEX Managing Director Kesara Manchusree.
Silver futures uses 99.9% pure silver as its underlying asset, which is a standard purity level for trading in the international markets. The contract size is set at 100 troy ounces (approx. 3 kgs.), worth around THB140,000 (approx. USD4,600). The silver futures settlement method will be cash settlement, using the London Silver Fixing Price as the reference price.
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Source: Thaiprnet
Tokyo Stock Exchange: ETF Trading Fees Will Be Donated To The Great East Japan Earthquake - ETF Trading To Aid Recovery
April 28, 2011--Tokyo Stock Exchange Group, Inc. (hereafter "TSE Group") will donate an amount equivalent to the trading fees paid to Tokyo Stock Exchange, Inc. (hereinafter "TSE") for trading in ETFs(*1) and ETNs(*2) in support of recovery from the Great East Japan Earthquake. This decision was made after consideration of measures to allow market participants to contribute to the recovery efforts through the market.
TSE Group has already made a donation to recovery efforts and flexible application of listing rules are currently being implemented for disaster-affected listed companies as well as prospective listed companies. In addition to these independent efforts, as a market operator, TSE Group has examined ways to involve market participants in our contribution to the recovery.
ETFs are simple products with price movement that is easy to understand, have the effect of diversifying an investment portfolio, and can be traded easily with small amounts of funds by a wide variety of investors, from those new to investment to professional investors. Furthermore, thanks to the efforts of many ETF providers, etc., the product lineup on the TSE ETF market reached the landmark of 100 listed issues in the last fiscal year and continues to grow today. TSE decided to donate the amount equivalent to the trading fee from ETF trading during the period from April through September 2011 in our continued efforts to aid recovery. This will enable TSE to do our part in a combined effort together with a broad spectrum of market users including investors. In addition, the trading fees from ETN trading will also be donated after the listing framework and system for ETNs has been established.
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Source: Tokyo Stock Exchange
KOSPI 100-based ETF To Be Listed In The Korea Exchange
April 28, 2011--The Korea Exchange is going to list KYOBO AXA Power K100 ETF on May 3, 2011, which tracks an underlying index of the KOSPI 100. The ETF will be the first ETF based on the KOSPI 100 index that is composed of the top 100 stocks in terms of market capitalization in the KOSPI Market.
The asset under management(AUM) of the new ETF is KRW 191.1billion and its estimated base price is KRW 21,520 per unit.
KYOBO AXA INVESTMENT MANAGERS Co. is the 14th asset management company making inroads into the Korean ETF market.
The KRX has total 28 newly listed ETFs this year, which increases the total listed number of ETFs to 92.
Source: KRX
Asia Remains World’s Most Dynamic Region, Although Pockets of Overheating Pose Risks
April 28, 2011--In Asia both exports and domestic demand are fueling rapid economic growth, the International Monetary Fund (IMF) said today in its latest Regional Economic Outlook (REO) for Asia and the Pacific, which was released in Hong Kong SAR, People’s Republic of China.
Economic growth in the Asia and Pacific region is expected to remain robust this year and next, Mr. Anoop Singh, Director of the IMF’s Asia & Pacific department said, noting that growth is expected to be close to 7 percent in 2011 and 2012, as the region continues to lead the global recovery. The output gap is closing in much of emerging Asia, where growth is expected to reach around 8 percent, led by China and India. For Hong Kong SAR, growth in 2011 is expected to be close to 5.5 percent.
The earthquake-related tragedy in Japan in mid-March caused terrible losses of life and property. The government’s response helped to contain the economic impact, and spillovers to activity in the rest of Asia should be limited. The situation is, however, still uncertain.
view the Regional Economic Outlook: Asia and Pacific
Managing the Next Phase of Growth
report
Source: IMF
Asian currencies expose cracks in dollar peg
April 28, 2011--A milestone of sorts was reached this month when the dollar hit a multiyear low on a trade-weighted basis and set record lows against Asian currencies, led by the Singapore dollar.
The drop in the dollar was especially remarkable because it took place against a backdrop of geopolitical uncertainty, which usually triggers a flight to haven currencies – which in the past would have meant a rush to the dollar. Meanwhile, the currency of the special administrative region of Hong Kong moved not at all.
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Source: FT.com
China’s Economic Outlook Remains Favorable, but Further Macro Policy Normalization is Needed
April 27, 2011--China's economic outlook remains broadly favorable with real GDP growth projected at 9.3 percent in 2011 and 8.7 percent in 2012, but risks on inflation and the property market call for full normalization of the macroeconomic stance to keep growth on track, according to the World Bank's latest China Quarterly Update released today
“Headwind from a normalized macroeconomic stance, inflation, and somewhat slower global growth is likely to be partly offset by solid corporate investment and a still robust labor market,” says Ardo Hansson, Lead Economist for China. “In all, with a broadly neutral contribution of net trade, we now project China’s real GDP growth at 9.3 percent in 2011 and 8.7 percent in 2012.”
The Update, a regular assessment of China’s economy, finds that both fiscal and monetary policy contributed to the tightening of macroeconomic policy after the massive stimulus during the global financial crisis. Consumption growth slowed in early 2011. But overall domestic demand held up well, supported by still strong investment growth. Real estate investment has so far remained robust due to measures to contain housing prices—a policy focus. Reducing inflation is the other policy priority, after inflation rose to 5.4 percent, largely on higher food prices.
view the World Bank China Quarterly Update - April 2011
Source: World Bank
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