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DB-Synthetic Equity & Index Strategy-Asia-Pac Monthly ETF Market Review-Mixed flow trend across the region
May 12, 2014--Data in this report is as of 30 April 2014
Global Summary
As of the end of April 2014, global ETP assets approached $2.36 trillion (+4.1%
YTD) with Asia-Pacific ETPs assets holding above $170bn. Overall strong
inflows received by the global ETP industry tripling previous month’s inflows to +$33bn in April. US domiciled ETPs experienced the largest inflows (+$19.5bn) followed by ETPs in Europe (+$8.8bn) and Asia-Pac ETPs (+$4.7bn). Globally, equities lead the tally with the inflows of +$26.6bn.
Monthly Trends-Asia Pacific
Market Review
Last month, Asia-Pacific region had mixed markets. Compared to the month
before, from north to south:
Japan (Nikkei 225) -3.53%
Korea (KOSPI2) -1.08%
China (CSI 300) +0.58%
Hong Kong (HSI) -0.08%
Singapore (FSSTI) +2.39%
Australia (S&P/ASX 200) +1.75%
ETP flows: Japan and China ETFs witness traction
Asia-Pacific ETPs market reversed the previous month’s trend with strong
monthly inflows of +$4.7bn (-$1.5bn in March), setting YTD cash flows at
+$10.8bn. This was primarily contributed by Equity ETFs with +$4.6bn in new
money.
Within equity, developed market benchmarked ETFs led the tally receiving inflows of +$4.4bn, mainly driven by one Japan focused ETF (Daiwa ETF – Topix - 1305 JP) with +$3.7bn worth of new creations. Emerging market (EM) ETFs closed the month with little but positive flows in contrast to the -$1.7bn of outflows in March. Most activities were seen among China and Taiwan focused ETFs recording +$547mn of inflows and -$363mn of outflows respectively over the last month. On a sub-segment level, theme based and financial sector ETFs registered notable inflows of over +$500mn and +$400mn respectively, while leveraged long strategy ETFs saw outflows of close to -$1bn.
Winners and losers: At ETP level, largest inflows were received by Daiwa ETF-Topix (1305 JP), GS CPSE BeES (CPSEBE IN) and CSOP FTSE China A50 ETF (82822 HK) collecting +$3.7bn, +$556mn and +$461mn respectively. Largest redemptions were experienced by Samsung KODEX Leverage ETF (122630 KS), Taiwan Top50 Tracker Fund (0050 TT) and Tracker Fund of Hong Kong (2800 HK) with outflows of -$959mn, -$361mn and -$277mn respectively
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Source: Deutsche Bank-Synthetic Equity & Index Strategy- Asia
BetaShares launches new ETF
May 9, 2014--Exchange Trade Fund (ETF) specialist BetaShares has launched a new investment fund on the Australian Securities Exchange (ASX).
It said the BetaShares Geared Australian Equity Fund (hedge fund) would trade under the ASX Code "GEAR" and provide investors with a simple way to obtain a cost-effective geared exposure to the returns of the Australian share market.
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Source: Moneymanagement.com
STOXX Introduces Chinese Version Of STOXX Name
May 8, 2014--STOXX Limited, the market-moving provider of innovative, tradable and global index concepts, today unveiled the Chinese version of its name at an official ceremony in Shanghai-"STOXX 势 拓". It will be used across Greater China to represent STOXX's brand and innovative index concepts.
The Chinese name of STOXX is represented by the characters "Shi Tuo" (势 拓). Shi symbolizes force, power, momentum and Tuo embodies the spirit of an explorer, pioneer,innovator. These attributes embody the spirit of STOXX and the company's mission.
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Source: Stoxx
Australia's ETF industry reaches record assets of $11 billion
May 8, 2014--According to the latest ASX Funds Monthly Update, Australia's exchange traded funds (ETF) industry has surged to a record level in April 2014 to $11.13 billion, an almost 50% increase from 12 months ago.
Year-to-date, over $1 billion has flowed into ETFs quoted on the ASX, with April attracting record inflows of $331 million, an increase from $265 million in March/
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Source: Adviservoice.com
Economic Development a Triumph of Working People in East Asia Pacific
New Report Urges Countries to Adopt Social Protection Policies to Cover More Workers
May 8, 2014--As rapid economic development has pushed the percentage of people working in most East Asian countries to among the highest in the world, policy makers should enact labor regulations and social protection policies to benefit all workers, including those in the large informal economy, according to a new World Bank report, East Asia Pacific at Work: Employment, Enterprise and Well-Being.
In the last 20 years, East Asia Pacific saw rising productivity amid a brisk structural transformation, with large movements of people into cities and higher output in agriculture, manufacturing and services. Countries that were poor a generation ago successfully integrated into the global value chain, taking advantage of low labor costs. In most countries in the region, the share of the population working or seeking work, including women, is higher than other countries with similar income level.
view the report-East Asia Pacific at Work: Employment, Enterprise and Well-Being
view the infographic-Infographic: East Asia Pacific At Work
Source: World Bank
Weak renminbi fails to deter strong appetite for dim sum bonds
May 7, 2014--The offshore renminbi bond market has long been a simple beast.
When the Chinese currency rose, such credit would perform well. When the renminbi fell, the bonds-known better as "dim sum bonds"-would falter, and new issuance would evaporate.
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Source: FT.com
Dynamic markets in Southeast Asia need good policies for sustained competitiveness and shared growth,says OECD
May 6, 2014--The Southeast Asia region,with more than half-a-billion people,is among the fastest-growing regions in the world but levels of growth and prosperity within the region remain uneven. Good policies need to be implemented in the region to maintain strong growth and make it more inclusive,boosting productivity,reducing poverty,and avoid falling into the "middle income trap".
The OECD Southeast Asia Regional Programme,launched today at the 2014 OECD Ministerial Council,aims to support the region in achieving these objectives. Building on two decades of engagement with the region,the Programme will provide a strengthened platform for sharing good policy practices among policy makers in Southeast Asia and OECD countries,informing and supporting reform processes, both at national and regional level.
Source: OECD
IMF Working paper-China's Monetary Policy and Interest Rate Liberalization: Lessons from International Experiences
May 1, 2014--Summary: China has been moving to a more market oriented financial system, which has implications for the monetary policy environment. The paper investigates the stability of the money demand function (MDF) in light of progress in financial sector reforms that, for example, have resulted in significant financial innovation (so-called shadow banking) and more liberalized interest rates.
The analysis of international experience suggests that rapid development of the financial system often leads to structural shifts in the MDF. For example, financial innovation and liberalization alter the sensitivity of money balances to income and the interest rate. For China, we find that the stable long-run relationship between money demand, output, and interest rates that existed between 2002 and 2008 disappears after 2008. This coincides with the period of rapid financial innovation, especially the growth in off-balance sheet and nonbank financial intermediation. The results suggest that usefulness of M2 as an intermediate monetary target has declined with financial innovation and reform. A result that underscores the importance of moving toward increased reliance on more price-based targets such as interest rates.
China mulls 'mega' FTA
May 1, 2014--Skyline of the Lujiazui Financial District with the Oriental Pearl TV Tower, the Shanghai World Financial Center, the Shanghai Tower under construction and other skyscrapers and high-rise buildings in Pudong, Shanghai, China, Dec 21, 2013.
China has proposed studying the feasibility of a mega free-trade agreement in the Asia-Pacific region as the many flourishing FTAs in the area could burden businesses with different standards, a senior official said on Wednesday.
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Source: China Daily
EURO STOXX 50 index licensed to Mirae Asset Global Investments to underlie exchange-traded fund
April 30, 2014--STOXX Limited, the market-moving provider of innovative, tradable and global index concepts, today announced that the EURO STOXX 50 Index has been licensed to Mirae Asset Global Investments, a leading Korean asset management specialist, to serve as the basis for an exchange-traded fund (ETF). The ETF will be listed on Korea Exchange(KRX) today.
It is the first time that the EURO STOXX 50 Index has been licensed to underlie an ETF in Korea. There are currently 21 ETFs on the index available, globally.
"Licensing the EURO STOXX 50 Index for the first time for an ETF listed in Korea is a big step for STOXX, and also underlines our dedication to grow in the Asian markets," said Hartmut Graf, chief executive officer, STOXX Limited. "The EURO STOXX 50 Index remains Europe's most favoured and well-known blue chip equity index. Its liquidity, transparency and rules based methodology makes the index an ideal tool to participate in the performance of the Eurozone equity markets."
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Source: Stoxx
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