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Korea-Australia treaty hailed as key to passport
February 17, 2014--John Brogden sees the ARFP scheme as harmonising regulation in Asia.
The pending free trade agreement between Australia and Korea is being hailed as a vital step if the proposed Asia Region Funds Passport (ARFP) is to succeed. Yesterday...
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Source: Asian Investor
R*Shares Nifty ETF & R*Shares CNX 100 Fund listing on BSE
Reliance Mutual Fund announces listing of units of R*Shares Nifty ETF & R*Shares CNX 100 Fund on BSE, with effect from February 17, 2014.
February 15, 2014--Reliance Mutual Fund has announced that with effect from February 17, 2014, has decided to list R*Shares Nifty ETF
(an open ended index exchange traded fund & Rajiv Gandhi Equity Savings Scheme (RGESS) qualified scheme) & R*Shares CNX 100 Fund (an open ended index exchange traded fund) on the Capital Market Segment of BSE.
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Source: Money Control
1.3b yuan loss looms for investors in wealth products
February 13, 2014--Two investment products worth nearly 1.3 billion yuan (HK$1.66 billion) that were distributed by China Construction Bank (0939) and Ping An Insurance (2318) are on the verge of default.
The first -a high-yield product that saw 289 million yuan raised from clients of China Construction Bank-was created by Jilin Province Trust and backed by a loan to coal firm Shanxi Lianmeng Energy.
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Source: The Standard
NRI Conducts Nippon Individual Savings Account (NISA) Usage Survey,Findings Project 8.65mn NISA Holders/Applicants by Year-End
February 13, 2014-Nomura Research Institute, Ltd, (NRI) a leading provider of consulting services and system solutions, conducted a Nippon Individual Savings Account (NISA)*1 Usage Survey in early February 2014, showcasing NISAs smooth start from the January 2014 launch.
As of January 1, 2014, 4.75 million NISAs had been opened, according to the National Tax Agency (NTA). Public awareness of NISAs is growing, according to a series of surveys conducted by NRI over the past year. Based on its latest survey data, NRI estimates that 8.65 million NISAs will be opened by the end of 2014.
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Source: NRI
ETF/ETN Monthly Report for Jan 2014
February 13, 2014--Average daily trading value surges past last month's record high!
In January, the ETF/ETN market reached a new record high in ADV of about JPY 146 billion. Monthly trading value was at about JPY 2.77 trillion, staying close to last month's high.
NEXT FUNDS Nikkei 225 Leveraged Index Exchange Traded Fund (1570) accounted for the majority of the trading value. TOPIX Bull 2x ETF (1568) also saw growing activity.
The market welcomed two new ETFs tracking the JPX-Nikkei Index 400 on January 28 (Tue.). NEXT FUNDS JPX-Nikkei Index 400 Exchange Traded Fund (1591) and Listed Index Fund JPX-Nikkei 400 (1592) both got off to a smooth start. The former ranked 18th in monthly trading value despite being traded for only four days while the latter came in at 25th in the rankings (the table in the attachment only includes the top 20 issues).
view the TSE ETF/ETN Monthly Report for Jan 2014
Source: TSE
Indicative NAV published for new ETFs through the FLEX standard service
February 13, 2014--Beginning on March 17, 2014, Tokyo Stock Exchange, Inc. (TSE) will publish the real-time Indicative Net Asset Value (Indicative NAV) per share through the FLEX standard service for six Exchange Traded Funds (ETFs)and one Exchange Traded Note (ETNs)
Code: 1591
ETF: NEXT FUNDS JPX-Nikkei Index 400 Exchange Traded Fund
Fund Administrator : NOMURA ASSET MANAGEMENT
Code: 1592
ETF : Listed Index Fund JPX-Nikkei Index 400
Fund Administrator: Nikko Asset Management Co.,Ltd.
Code: 1593 ETF: MAXIS JPX Nikkei Index 400 ETF
Fund Administrator :Mitsubishi UFJ Asset Management Co.,Ltd.
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Source: TSE
Worried Fed seeks to curb Wall Street banks commodity trade
February 12, 2014--China Securities Regulatory Commission (CSRC) has been speeding up the approval process for mutual funds. The regulatory watchdog granted a total of 45 new fund products in January, an increase of 50% from 30 in the same period a year earlier.
Around 62.2% of the approved products in January were hybrid funds, sector ETFs, and money market funds. This contrasts starkly to the first half of last year when more than 80% of the approved funds were fixed income products.
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Source: Asia Asset
China set to be the catalyst to end emerging market rout
February 12, 2014--The "systemic risk" and concerns in China may be overplayed and the country may be the "catalyst" to help end the current rout in emerging markets, according to Wells Fargo Asset Management.
Anthony Cragg, MD and senior portfolio manager, told IPA market sentiment on the world's second-largest economy to shift from being "too negative" towards a "more accurate" reflection of the country's current conditions, adding the "systemic risk" has been overplayed.
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Source: I&PA
IMF Executive Board Concludes 2013 Article IV Consultation with Australia
February 12, 2014--On February 10, 2014, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation1 with Australia.
The Australian economy has performed well relative to many other advanced economies since the global financial crisis. However, a transition phase has now been reached as the terms of trade driven mining investment boom of the past decade has peaked and the economy is moving to the production and export phase.
Mining-related investment which accounted for almost half of GDP growth in the past couple of years is expected to drop sharply in the near term, and a recovery in non-mining investment will be needed to underpin demand and return the economy’s growth rate to trend.
Annual growth has slowed to 2¼ percent in the third quarter of 2013, below the trend growth of around 3 percent. In addition to the slowdown of investment in new mining projects, non-mining investment has been weighed down by excess capacity and an overvalued exchange rate. Consumption growth has been modest and the household savings rate has remained above 10 percent. On the plus side mining exports are growing as new capacity comes on stream and in recent months housing market activity has begun to pick up with building approvals, transactions, and prices increasing. Nevertheless labor market conditions have remained soft and the unemployment rate has risen. Inflation remains anchored in the Reserve Bank of Australia’s (RBA) target range.
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Source: IMF
DB-Synthetic Equity & Index Strategy- Asia-Pac Weekly ETF Market Review-Inflows across Asia despite bearish market
February 12, 2014--Data in this report is as of 7 February 2014.
Market Review
Last week, all the major markets in the Asia-Pacific region remained in negative territory except China. Compared to the week before, from north to south:
Japan (Nikkei 225) -3.03%
South Korea (KOSPI2) -0.94%
China (CSI 300) +0.46%
Hong Kong (HSI) -1.81%
Singapore (FSSTI) -0.47%
Australia (S&P/ASX 200) -0.45%
New Product Launch Review
Asia-Pacific ETP market registered one new product launch during last week. Mitsubishi UFJ Asset Management listed one equity ETF (1593 JP) on the Tokyo Stock Exchange (TSE) tracking the JPX-Nikkei 400 Index. This index selects TSE listed companies based on profitability and engagement with corporate governance. In the previous week, Nomura Asset Management and Nikko Asset Management each have launched one equity ETF tracking the same index.
ETP Weekly Flows -Japan focused ETFs witness strong inflows
Last week, Asia-Pacific ETP market recorded strong inflows of +$3.9bn vs. +$2.3bn for the previous week, setting the YTD weekly flows average at +$1.3bn (+$7.2bn YTD in total flows). Developed markets equity ETFs registered weekly inflows of +$2.6bn, primarily contributed by Japan focused ETFs with +$2.5bn inflows. Further, leveraged long strategy and South Korea focused ETFs recorded positive flows of +$0.9bn and +$0.3bn respectively over the last week.
Winners and losers: At ETP level, Daiwa ETF - Nikkei 225 (1320 JP), Nomura Nikkei 225 ETF (1321 JP) and Next Funds Nikkei 225 Leveraged Index ETF (1570 JP) were the largest flows receivers of the week collecting +$1.2bn, +$554mn and +$451mn respectively. Over the same period, biggest outflows were experienced by Samsung KODEX Inverse ETF (114800 KS) recording -$32mn of outflows.
Turnover Review-Floor activity up by 2.7%
Asia-Pacific ETP turnover totaled $12.9bn for the last week, 2.7% up from the previous week’s total. Stock exchanges in Japan remained on the top of the turnover ranking with $7.4bn turnover, followed by South Korea ($3.5bn), Hong Kong ($1.1bn) and China ($0.3bn). Among equity ETFs, leveraged long strategy, emerging country, Asia-Pac developed country and short strategy ETFs had total turnover of $6.5bn, $2.5bn, $2.3bn and $0.8bn respectively. Within fixed income asset class, money market ETFs recorded turnover of $0.2bn over the last week.
Assets under Management Review- Assets increased by $1.3bn
Last week, Asia-Pacific ETP AUM added $1.3bn and ended the week at $163.9bn. On a year-to-date basis, Asia-Pacific ETP market is down by $3.6bn or 2.1% below last year's closing.
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Source: Deutsche Bank-Synthetic Equity & Index Strategy- Asia
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