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Betashares Launches Global Shares ETF and Currency Hedged Version Tracking Solactive GBS Developed Markets ex Australia Large & Mid Cap Index
May 26, 2023--In the face of market volatility, investors often turn to portfolio diversification as a key strategy. One effective approach to manage volatility is to diversify exposure across various developed markets, which generally provide higher exposure to more advanced industries, lower risks of political or economic instability, as well as greater accounting reliability.
In this context, Solactive is pleased to announce that leading Australian fund manager, Betashares, has expanded its engagement with the German index provider by choosing the Solactive GBS Developed Markets ex Australia Large & Mid Cap Index (plus AUD hedged version) as the benchmark for their new ETFs- Betashares Global Shares ETF and Betashares Global Shares Currency Hedged ETF. These products are designed to be suitable as core allocations to global equities in a well-constructed -investment portfolio. The currency hedged version specifically caters to those seeking to minimize the impact of currency fluctuations on investment returns.
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Source: Solactive AG
Betashares Australian ETF Review April 2023: Investor flows push industry to a new high, even as markets decline
May 15, 2023--The strong rise in global sharemarkets together with continued investor flows allowed the Australian ETF industry to once again set a new all-time high in funds under management (FuM).
Exchanged Traded Funds Market cap
Australian Exchange Traded Funds Market Cap(ASX + CBOE): $146.0B-new all time high
ASX CHESS Market Cap: $131.0B1
Market cap increase for month: 2.4%, $3.4B
Market cap growth for last 12 months: 9.4%, $12.5B
Comment: The Australian ETF Industry's FuM grew by 2.0% month-on-month, for a total monthly market cap increase of $2.8B. Industry funds under management ended the month at $142.6B, a new record high.
New money
Net inflows for month: +$0.8B
Comment: The growth this month came primarily from asset value appreciation, although investor flows remained positive, at $0.7B (25% of the monthly growth).
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Source: betashares.com.au
Asia Poised to Drive Global Economic Growth, Boosted by China's Reopening
May 1, 2023--China and India together are forecast to generate about half of global growth this year
70 percent of global growth this year-a much greater share than in recent years.
Asia and the Pacific is a relative bright spot amid the more somber context of the global economy's rocky recovery.
As the Chart of the Week shows, the region will contribute about Our latest Regional Economic Outlook describes the resilience of the world's most dynamic region and important challenges facing its policymakers.
Growth in Asia and the Pacific is forecast to accelerate to 4.6 percent this year from 3.8 percent last year.
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Source: imf.org
Investors weigh up best ETFs to profit from China's reopening
April 24, 2023--Funds listed in Hong Kong, mainland China, US and Europe can offer exposure to economic recovery
When Chinese tech giant Alibaba announced it was splitting into six companies, trading of the KraneShares CSI China Internet ETF shot through the roof.
More than $1bn-worth of stakes in the fund changed hands on hopes that Alibaba’s move signalled a longer-term easing of Beijing's regulatory crackdown on the sector.
But the fund itself only saw inflows of about $25mn that day, reflecting a broader issue for China-focused ETFs this year: even as most investors agree that China's economic recovery still has some steam left, many are hesitant to take the plunge.
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Source: ft.com
IMF Working Paper-Unleashing India's Growth Potential
April 21, 2023--Summary:
This paper analyzes the drivers of India's growth in the past five decades and considers baseline and upside scenarios of India's medium-term potential growth.
Using a production function approach, the paper assesses the impact of the pandemic on the key factors of production and therefore its impact on medium-term growth. Successful implementation of wide-ranging structural reforms could help support productivity and potential growth over the medium term.
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Source: IMF.org
Asia Likely to See Dynamic Economic Growth, but With Policy Challenges
April 13, 2023--Region would contribute about 70 percent to global growth this year-but still faces challenges from inflation, debt, and financial vulnerabilities<>br>Asia and the Pacific remains a dynamic region despite the somber backdrop of what looks to be shaping up as a challenging year for the world economy.
Global growth is poised to decelerate as rising interest rates and Russia's war in Ukraine weigh on activity. Inflation remains stubbornly high, and banking strains in the United States and Europe have injected greater uncertainty into an already complex economic landscape.
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Source: imf.org
Indian Economy Continues to Show Resilience Amid Global Uncertainties
April 4, 2023--India's growth continues to be resilient despite some signs of moderation in growth, says the World Bank in its latest India Development Update, the World Bank India's biannual flagship publication.
The Update notes that although significant challenges remain in the global environment, India was one of the fastest growing economies in the world.
The overall growth remains robust and is estimated to be 6.9 percent for the full year with real GDP growing 7.7 percent year-on-year during the first three quarters of fiscal year 2022/23
There were some signs of moderation in the second half of FY 22/23. Growth was underpinned by strong investment activity bolstered by the government's capex push and buoyant private consumption, particularly among higher income earners. Inflation remained high, averaging around 6.7 percent in FY22/23 but the current-account deficit narrowed in Q3 on the back of strong growth in service exports and easing global commodity prices.
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Source: worldbank.org
South Asia Faces Weakening Growth Amidst Tightening Financial Conditions
April 4, 2023-South Asia's growth prospects have weakened due to tightening financial conditions, with large downside risks in most countries given limited fiscal space and depleting reserves, says the World Bank in its twice-a-year regional update. The report stresses the need to roll back market distortions introduced during the pandemic and address debilitating socioeconomic divides that constrain South Asia's potential.
Released today, the latest South Asia Economic Focus, Expanding Opportunities: Toward Inclusive Growth, projects regional growth to average 5.6 percent in 2023, a slight downward revision from the October 2022 forecast. Growth is expected to remain moderate at 5.9 percent in 2024, following an initial post-pandemic recovery of 8.2 percent in 2021.
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Source: worldbank.org
East Asia and Pacific Regional Growth to Accelerate as China Rebounds
March 31, 2023--Slowing global growth, commodity prices, financial tightening to weigh in 2023
Growth in developing East Asia and the Pacific is forecast to accelerate in 2023 as China's economy reopens, while the pace of growth in most of the economies in the rest of the region is anticipated to ease after a strong rebound last year, a World Bank report said on Thursday.
Economic performance across the region, while robust, could be held back this year by slowing global growth, elevated commodity prices, and tightening financial conditions in response to persistent inflation, according to the World Bank's East Asia and Pacific April 2023 Economic Update.
Growth in developing East Asia and the Pacific is forecast to accelerate to 5.1% in 2023 from 3.5% in 2022, as China's reopening helps the economy rebound to a 5.1% pace from 3% last year. Growth in the region outside China is anticipated to moderate to 4.9% from the robust post-COVID-19 rebound of 5.8% in 2022, as inflation and elevated household debt in some countries weigh on consumption.
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Source: worldbank.org
IMF Staff Country Report-Japan: Selected Issues
March 30, 2023--DRIVERS OF CORPORATE CASH HOLDINGS IN JAPAN
In Japan, corporate savings have risen since 2000 in line with profits. A large share of the additional savings was kept as cash holdings (i.e., cash and short-term investments) rather than used for investment. Building on a rich literature, this paper identifies two additional drivers of corporate cash holdings using financial data of public and private Japanese firms. First, a higher share of intangible capital is associated with more cash holdings.
This indicates the presence of financial frictions as intangible capital is not easily collateralizable. Such financial friction could be alleviated by shifting towards cash flow-based lending that is prevalent in the United States (US). Second, corporate tax cuts are associated with more cash holdings while having no significant effect on investment. Given the significant fiscal cost, the efficiency of corporate tax cuts should be re-evaluated.
A. Introduction
1. In Japan, private savings have shifted from households to the corporate sector. Household net savings, defined as gross savings minus investment, had declined before the pandemic. At the same time, Japanese corporations went from net borrowers to net savers after the asset bubble burst in the 1990s. The rise of corporate savings mainly reflects higher corporate profits while investment has stagnated.
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Source: inf.org
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