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DB Index Research -- Weekly ETF Reports - Asia-Pacific
February 11, 2010--Market Overview
There are 202 equity based ETFs in the Asia Pacific region with 267 listings across 12 countries and 15 exchanges. Japan has the largest market share by AUM accounting for 38.47% of the whole market, whilst China has the largest market share by turnover with 44.95%.
There were no new listings in the last week.
Turnover
Monthly average daily turnover rose 2.1% in the last week. Turnover for the previous week was USD 1093m. The largest ETF by turnover was the China 50 ETF issued by China Asset Management with USD 300m accounting for 27.4% of total turnover.
Assets Under Management
AUM declined 1.6% in the previous week. AUM as of Feb 8th were USD 58.5bn. The largest ETF by AUM is the TOPIX ETF managed by Nomura Asset Management with AUM of USD 6.1bn.
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Source: Aram Flores and Shan Lan -DB Index Research
Rakuten Securities launches db x-trackers ETFs to Japanese retail investors
February 11, 2010--Rakuten Securities has launched and commenced the marketing of six listed Chinese exchange-traded funds structured and developed by Deutsche Bank under its db x-trackers series to Japanese retail investors.
Rakuten Securities has provided US and Chinese equity products since 1999 and 2003 respectively, and has continued to expand its product line-up.
Among the international ETFs RSI has marketed since May 2007, it has continued to expand its product line-up of index funds tracking developed markets indices, such as the Dow 30 and S&P 500, to also include ETFs tracking emerging markets and commodities.
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Source: ETF Express
Shanghai Stock Exchange Plans To Introduce Over 10 ETFs In 2010
February 10, 2010--"The Shanghai Stock Exchange (SSE) has defined year 2010 as 'the year for business innovation on China's capital market', and its main task of innovation is to promote the exchange-traded funds (ETFs)," said President Zhang Yujun of the SSE at the recent SSE Seminar on ETF Innovation. According to Zhang, the SSE will introduce more than 10 ETFs this year, among which the SSE Mid-cap ETF will be one of the most important products to be promoted by the SSE.
The SSE hopes that the participants at the meeting, including banks, securities dealers, insurance companies and other parties, will vigorously develop their ETF business. Zhang made an all-round analysis on the history of rapid development of overseas ETFs as well as the great prospect for their development in China. "ETF was born 17 years ago, but it has now become one of the fastest-growing products on the mature markets globally," said Zhang. The market capitalization of ETFs, valued at US$0.8 billion in 1993 when it came into being, outnumbered US$1 trillion at the end of 2009. New York Stock Exchange boasts over 1,000 listed ETFs while the Standard & Poor's 500 ETF enjoys the largest market capitalization of more than US$100 billion.
Zhang believes that from the global trend, there is ample room for development of ETF business on China's market. He said that the ETF business had developed quickly in recent years as the SSE had done a lot of work on promotion of ETFs. In 2009, the number of ETFs was 5, adding 2 to the previous 3 products. This year, the SSE will issue more ETFs. By the end of 2009, the total market capitalization of the 5 ETFs on the SSE had reached RMB44 billion.
Source: China On-line
ETF Landscape: Asia Pacific Industry Review Year End 2009
February 10, 2010--This report is a review of the Exchange Traded Funds (ETFs) and Exchange Traded Products (ETPs) in the Asia Pacific region through 2009. Data is split and shown as Asia Pacific (ex-Japan) with Japan data shown separately. This report also includes a review of all ETFs listed in Asia Pacific and a comparison to the local mutual fund flows and Index performance comparisons.
At the end of December 2009 there were 197 ETFs in Asia Pacific, with 278 listings, assets under management of US$63.15 Bn from 48 providers on 15 exchanges.
In Asia Pacific (ex-Japan), there were 129 ETFs, assets of US$38.52 Bn, with 207 listings from 44 providers on 13 exchanges at the end of December 2009. Asia Pacific (ex-Japan) ETF AUM has increased by 62.1%, while the MSCI AC Asia Pacific ex-Japan Index is up 68.4% YTD in US dollar terms. State Street Global Advisors is the largest provider in terms of assets with US$9.72 Bn in 13 ETFs and 25.2% market share, followed by iShares with US$7.84 Bn in 13 ETFs and 20.3% market share, and Hang Seng Investment Management in third with US$5.29 Bn in three ETFs and 13.7% market share at the end of 2009.
In Japan, there were 68 ETFs, assets of US$24.63 Bn, with 71 listings from six providers on two exchanges at the end of December 2009. Japanese ETF AUM has fallen by 10.2% while the MSCI Japan Index is up 5.41% YTD in US dollar terms. Nomura Asset Management is the largest provider in terms of assets with US$13.37 Bn in 30 ETFs and 54.3% market share, followed by Nikko Asset Management with US$5.74 Bn in 10 ETFs and 23.3% market share, and Daiwa Asset Management in third with US$4.93 Bn in 22 ETFs and 20.0% market share at the end of 2009.
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>Source: ETF Research and Implementation Strategy Team, Blackrock
China’s CIC gives breakdown of US equity stakes
Fbruary 8, 2010--China Investment Corp, the country’s $300 billion sovereign wealth fund, has made its biggest US equity bets in natural resources and financial stocks. A filing with the US Securities and Exchange Commission detailed equity holdings in US listed companies and funds worth $9.63 billion at the end of 2009.
About a quarter of the investments is in exchange-traded funds, giving CIC exposure to markets in Europe, Asia and emerging markets at a low cost.
The filing, made last Friday, is not exhaustive. It does not include investments entrusted to outside fund managers or CIC’s stake in private equity house Blackstone.
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Source: The Malaysian Insider
Exchange traded funds doing well
February 8, 2010--INVESTORS have been piling into exchange traded funds (ETFs) over the past year, with daily trading volumes surging on the back of the market rally. The Singapore Exchange (SGX) reported that ETF turnover grew by 56 per cent from the year before to $4.6 billion last year.
There were also 20 new ETFs started last year, bringing the total to 49.
ETFs are listed on the SGX and track the performance of an index, or provide access to various asset classes such as commodities or bonds.
Russia picks four banks to manage its debt issue read more Shanghai Exchange accelerates Int'l board read more
Bursa Malaysia Posts 70% Increased Net Profit Of RM177.6 Million For 2009; Capital Gain From Equity Stake Disposal To CME Group The operational profit of the Group, excluding gain on disposal of 25% equity interest in Bursa Malaysia Derivatives, was RM101.6 million representing a 3% decrease from 2008.
Bursa Malaysia’s Chief Executive Officer, Dato’ Yusli Mohamed Yusoff said, “We had a challenging year in 2009, and exercised prudent financial and operational management measures across the Group to ensure that we delivered on shareholders’ value. Signs of global market recovery emerging from the second quarter onwards until the end of the year saw better trading activity and a resurgence of local investor participation in our market.”
Against this backdrop, Bursa Malaysia registered velocity of 34%, same as the year before. The securities market maintained its trading levels with a marginal decline of 5% in daily average trading value to RM1.22 billion compared to the previous year’s RM1.28 billion. Securities market trading revenue remained comparable at these levels with a slight increase by 2% to RM139.1 million due to higher effective clearing fees. Market capitalisation for the year stood at RM999 billion, a 50% increase from the previous year.
"Despite the economic sentiment spilling from the previous year, we still saw companies raise funds from the capital market, which demonstrated confidence in our market’s comparable valuations," said Dato’ Yusli.
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DB Index Research -- Weekly ETF Reports -- Asia-Pacific
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Source: Asia One Business
February 5, 2010--Russia’s finance ministry announced Friday its pick of four investment banks to manage its upcoming sovereign eurobond issue, which could raise up to $17.8 billion and will mark the country’s return to the debt market after ten years of surpluses.
Barclays Capital, Citibank, Credit Suisse and VTB Capital have been selected to jointly organize Russia’s eurobond issue, the ministry said in a statement. Deputy Finance Minister Dmitry Pankin was quoted by the state-run news agency RIA Novosti as saying that other banks could be tapped to arrange the next issue.
Source: Today's Zaman
February 4, 2010--The Shanghai Stock Exchange (SSE) has accelerated the preparation work of launching the international board and the development of global exchange-traded funds (ETFs), the Securities Times reported Friday.
Red chip companies, which are based in the Chinese mainland but incorporated internationally and listed on the Hong Kong Stock Exchange, would play a main role in the bourse's international board, which allows overseas-listed companies to sell shares denominated in the Chinese currency, the paper said citing a source close to this issue.
Source: China Daily
February 4, 2010--Bursa Malaysia Berhad (Bursa Malaysia) today reported a healthy net profit of RM177.6 million for the financial year ended 31 December 2009, an increase of 70% compared to the net profit of RM104.4 million in 2008.
This was mainly due to the RM76 million gain on the disposal of 25% equity interest in Bursa Malaysia Derivatives Berhad (Bursa Malaysia Derivatives) to CME Group Strategic Investments LLC following the completion of the Share Purchase Agreement on 30 November 2009.
Source: Bursa Malaysia
February 3, 2010--Highlights
Market Overview
There are 202 equity based ETFs in the Asia Pacific region with 267 listings across 12 countries and 15 exchanges. Japan has the largest market share by AUM accounting for 41.05% of the whole market, whilst China has the largest market share by turnover with 45.65%.
There was one new listing in the last week. China International Capital Corp. listed one new ETF in Hong Kong Stock Exchange.
Turnover
Monthly average daily turnover rose 6.7% in the last week. Turnover for the previous week was USD 1070m. The largest ETF by turnover was the China 50 ETF issued by China Asset Management with USD 303m accounting for 28.3% of total turnover.
AUM declined 2.3% in the previous week. AUM as of Feb 1st were USD 59.4bn. The largest ETF by AUM is the TOPIX ETF managed by Nomura Asset Management with AUM of USD 6.2bn.
Source: Aram Flores and Shan Lan -DB Index Research
