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DB Global Equity Index & ETF Research: Asia Pacific ETP Market Weekly Review
November 23, 2010--Market Overview
There are 242 equity based ETFs in the Asia Pacific region with 336 listings across 12 countries and 15 exchanges. Japan has the largest market share by AUM accounting for 39.38% of the whole market, whilst China has the largest market share by turnover with 40.49%.
There was one new listing on the previous week. UTI Asset Management launched a new Commodity fund listed on the India Stock Exchange. The objective of this new product is to track the performance of Gold.
Turnover
Monthly average daily turnover declined 2.5% in the last week. Turnover for the previous week was USD 1,619m. The largest ETF by turnover was the iShares Asia Trust - iShares FTSE/Xinhua A50 China Tracker issued by BlackRock with USD 313m accounting for 19.3% of total turnover.
Assets Under Management
AUM declined 1.1% in the previous week. AUM as of Nov 19th was USD 75.6bn. The largest ETF by AUM is the TOPIX ETF managed by Nomura Asset Management with AUM of USD 8.8bn.
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Source: DB Global Equity Index & ETF Research
BOCI-Prudential Continues to Pioneer in Cross-border ETF
Thai Investors Gain Access to China’s Bourses for the First Time
via a Hong Kong-Thailand Cross-Border ETF
November 22, 2010--BOCI-Prudential Asset Management Limited
(“BOCI-Prudential” or the “Company”), a leading asset management firm in Hong
Kong, is pleased to announce that it has cooperated with Krung Thai Asset
Management PCL (“KTAM”) in launching an exchange-traded fund (“ETF”), namely,
“W.I.S.E. KTAM CSI 300 China Tracker” (“W.I.S.E. KTAM CSI 300” or the “Fund”,
stock code: CHINA), that is listed on the Stock Exchange of Thailand (“SET”).
W.I.S.E. KTAM CSI 300 is a feeder fund mainly investing in “W.I.S.E. - CSI 300 China Tracker®” (“W.I.S.E. CSI 300”; stock code: 02827.HK).
The Fund is the first feeder ETF in Thailand approved by the Securities and Exchange Commission of Thailand (“Thailand SEC”) that invests in an overseas ETF, W.I.S.E. CSI 300, being a sub-fund of BOCI-Prudential’s W.I.S.E. ETF series.
KTAM launched the country’s first ETF to track China’s A-shares market. W.I.S.E. KTAM CSI 300 has been listed on the SET today.
W.I.S.E. KTAM CSI 300, or “CHINA Fund” as it is generally referred to by Thai investors, will invest, on average, at least 80% of its net asset value in W.I.S.E. CSI 300. W.I.S.E. CSI 300 seeks to track the broad-based CSI 300 Index compiled by China Securities Index Company Limited in Mainland China. The CSI 300 Index measures the financial performance of companies across all major industries in Mainland China and is a common benchmark used by major investors at home and abroad.
Mr. MAK Tat Cheung, CEO of BOCI-Prudential, said “The cross-border ETF launched and listed on the Stock Exchange of Thailand, along with the cross-border ETF listed in Taiwan last year, has not only reaffirmed our role as a regional ETF pioneer, but also proven our promptness in responding to the market’s need. We will continue to bring innovative products to the market and look for partnership opportunity in the region.”.
Dr. TANG Hing Sing, Managing Director and Head of Quantitative Strategy Business Unit of BOCI-Prudential, added “We are delighted to have W.I.S.E. CSI 300 being the first China ETF approved for investment by the feeder fund listed on the Stock Exchange of Thailand. We believe the unprecedented event will facilitate the ETF development of the already burgeoning Thailand market and this landmark development will meet the investment and diversification needs of Thailand investors.”
“The listing of China A-shares ETF, W.I.S.E. KTAM CSI 300, on the Stock Exchange of Thailand is a major step that will provide opportunity to invest in the fund that tracks China’s largest 300 companies”, said Mr. Somchai Boonnamsiri, KTAM’s Chief Executive Officer. “We are pleased to be part of this milestone listing in the Stock Exchange of Thailand. This allows the ETF issuer to introduce their financial products
to investors in another country while local investors gain access to the foreign ETF with proven track record. It is the first step to expand the availability of ETFs in Thai market and investors should benefit from the diversified product market” Mr. Somchai
added.
Source: BOCI-Prudential Asset Management Ltd
SRI asset growth in Australia and US outstrips mainstream market
November 19, 2010--The rate of asset growth into SRI-related strategies is outstripping the broad market growth of mainstream investment funds, according to two new surveys looking at Australia and the US. In Australia, the 2010 Benchmark report by the Responsible Investment Association Australasia (RIAA), which covers the financial year to June 30, 2010, said managed responsible investment portfolios rose by 10% from AU $14.02bn to AU $15.41bn, beating growth in the broader market of managed portfolios which rose 9% in the same period.
The RIAA report said that a broader ‘core’ responsible investment market measurement (a combination of specialised managed funds, community finance, green loans, RI charity investments and financial adviser portfolios) had risen 13% from AU $16.15bn to AU $18.19bn. Over half all funds under management in Australia are now signed to the United Nations backed Principles for Responsible Investment (PRI). The RIAA report said there had been a rise in Australian PRI signatories of 29% during 2009, with 112 Australian signatories running assets of US $591bn now representing 14% of the PRI global signatory base. Significantly, the RIAA report said Australian RI funds had outperformed average mainstream funds over one,
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Source: Responsible Investor
Gold ETFs glitter; October collections double to 13.99 tonnes
November 19, 2010--Holdings under gold Exchange Traded Funds (ETFs) saw a surge in October as collections almost doubled to 13.99 tonnes on a year-on-year basis, according to commodity analysts. Gold collections under gold ETFs in October 2009 amounted to 7-8 tonnes.
“This is the first time that gold collection numbers have doubled on a year-on-year basis,” said Mr Vibhu Ratandhara, Assistant Vice-President, Bonanza Commodity Brokers.
“They are a safe haven investment and are also preferred for reasons of portfolio diversification,” said Mr Ratandhara.
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Source: The Hindu Business Line
Thai bourse lists first ETF based on Chinese securities on November 22
November 19, 2010--The Stock Exchange of Thailand (SET) will list W.I.S.E-KTAM CSI 300 China Tracker, or ETF CHINA, an open-ended fund managed by Krung Thai Asset Management PCL.
It is Thailand’s fourth ETF and the first with foreign securities as its underlying. The fund will list in Unit Trust Sector on November 22, using “CHINA” as its trading symbol. This new product aims at increasing investment alternatives to Thai investors. We are confident that it will receive great attention from both institutional and retail investors, revealed SET President Charamporn Jotikasthira
Source: RYT9.com
SGX Euro Stoxx to start trading from Dec 6
November 19, 2010--Singapore Exchange (SGX) announced on Friday that the SGX Euro Stoxx 50 Index futures and options on futures will start trading on its derivatives market from December 6.
SGX said the debut of the US-dollar denominated products mark the first time these products are available in Asia.
Senior Vice President of Derivatives at SGX, Janice Kan, said the launch will allow investors to respond to developments occurring outside of European trading hours but affecting European equity markets.
She added that this would bring a more international flavour to SGX's suite of equity index derivatives.
Source: Channel News Asia
China makes moves to curb inflation
November 19, 2010--Beijing and Hong Kong have unveiled a raft of measures to curb rising prices as both governments struggle to curb inflationary pressures and real estate speculation in their fast-growing economies.
The Chinese central bank on Friday raised capital reserve requirements for its banks for the fifth time this year to “appropriately control” credit and liquidity.
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Source: FT.com
Zhou: SSE to Promote Indexation Investment by Three Stages
November 18, 2010--The indexation investment on the Shanghai Stock Exchange (SSE) in future will adopt a three-step strategy, namely introducing cross-variety ETFs while boosting cross-market and cross-border ETFs, and in order to achieve that, the SSE has signed the agreements on index authorization with nine international index companies and five exchanges, SSE Vice President Zhou Qinye said on November 15.
Zhou noted in his speech at the "4th Index and Indexation Investment Forum" on the same day that the SSE has always attached importance to index and indexation investment. Although the SSE has some traditional indices, such as SSE Composite Index and SSE 30 Index, unfortunately, they are not suitable for investment. In 2002, the SSE released SSE 180 Index, followed by SSE 50 Index. In recent years, the SSE transferred all its index-related maintenance and management to China Securities Index Co., Ltd. (CSI). So far, the number of indices headed with "SSE" has reached nearly 80. Meanwhile, the indexation investment on the SSE has seen a remarkable progress. By the end of last year, there had been five ETFs traded on the SSE. This year, another seven are introduced. These twelve ETFs boast an asset size up to RMB50 billion.
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Source: Shanghai Securities News
Shanghai Stock Exchange: ETFs To Bloom On A-Stock Market
Actively-managed ETFs, inverse ETFs and leveraged ETFs will be the goal of innovation in future.
November 18, 2010--China Securities Index Co., Ltd. (CSI) held the 4th Index and Indexation Investment Forum in Shanghai on November 15, where experts made in-depth discussion on the topic of "indexation investment in the backdrop of financial innovation" and agreed that the indexation investment in China is facing a great development opportunity, with actively-managed ETFs, inverse ETFs, leveraged ETFs and long/short strategic ETFs being the main goal of ETF innovation in future.
Delivering keynote speeches at the forum were Tong Daochi, Director of International Cooperation Department of the China Securities Regulatory Commission, Fang Xinghai, Director of the Shanghai Financial Service Office, Zhou Qinye, Vice President of the Shanghai Stock Exchange, and Zhou Jiannan, Assistant to President of the Shenzhen Stock Exchange.
The past two years witnessed the unprecedented development and innovation of index products, particularly ETF products, on the capital market in China's mainland. The year of 2009 was nicknamed "The Year of Index Fund" as the number of index products introduced to the public went beyond the total in the past seven years. Among the 29 index products, four were ETFs. The upsurge of indexation investment is gaining momentum this year. By November 12, 10 out of 38 issued index products had been ETFs, indicating a dramatic rise in proportion.
Besides, the types of index products are diversified as thematic index funds, strategic index funds, thematic ETFs, strategic ETFs and other new products vie to make their debuts. By the end of October, there had been 79 index products (including 53 index funds) as well as 15 ETFs and 11 feeder funds, boasting net asset values of about RMB240 billion and RMB80 billion, respectively. The number of index products had accounted for about 12% of that of all mutual funds, with the net asset values accounting for about 13% of that of the total.
Financial system innovation provides a favorable environment for further development of indexation investment. Strategic indices based on quantitative strategy and derivatives are prevalent, while actively-managed ETFs, inverse ETFs, leveraged ETFs and long/short strategic ETFs are becoming the main goals of ETF innovation in the days to come. The introduction of ETF options and warrants and other derivatives in future will in turn boost the growth of ETFs.
Source: Shanghai Securities News
IMF Working paper-Emerging Asia’s Impact on Australian Growth: Some Insights From GEM
November 18, 2010--Summary: Over the last decade, GDP growth in emerging Asia was roughly twice as fast as average world growth. The IMF’s Global Economy Model (GEM) is used to estimate the impact that emerging Asia’s growth differential has had on Australia. The simulation analysis, which replicates some key features from the last decade, suggests that roughly 25 percent of Australia's growth over the last decade has been from emerging Asia’s growth differential over that period.
Looking ahead, the analysis suggests that should emerging Asia continue to grow in a similar fashion, Australia’s growth dividend could almost double. On the other hand, if growth in emerging Asia remained strong, but became more balanced across the tradable and nontradable goods sectors then Australia’s growth dividend would be slightly lower than the estimate for the last decade.
view working paper-Emerging Asia’s Impact on Australian Growth: Some Insights From GEM
Source: IMF
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