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The Shortlist for Exchange Traded Fund
December 23, 2013--In a last-ditch attempt to salvage its plans to raise billions of dollars by selling stakes in state-run companies, India has shortlisted the shares of Coal India Ltd., Oil and Natural Gas Corp. and nine other companies for a new exchange-traded fund which will invest only in public-sector companies.
Among the other big government companies that may become part of the fund are Indian Oil Ltd., Power Grid Corp., Power Finance Corp. and Rural Electrification Corp., said a finance ministry official who asked not to be named.
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Source: Wall Street Journal
UK funds close in on China access deal to rival Hong Kong
December 22, 2013--Hopes of a lasting boost to Hong Kong's asset management industry from a deal to sell funds into China have been dealt a blow by growing speculation that the UK and other markets will quickly benefit from similar agreements.
Hong Kong and Chinese regulators are due to sign an agreement in coming weeks to give funds domiciled on both sides of the border "mutual recognition" in each other's markets, according to people following the talks.
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Source: FT.com
PSU exchange-traded fund to be launched by February
December 20, 2013-- Central Public Sector Enterprises (CPSE) Exchange-Traded Fund is likely to hit the market in February.
According to Finance Ministry officials, the Department of Disinvestment has identified 11 listed public sector enterprises, including blue chips, such as Coal India, ONGC, Indian Oil, Power Grid, Rural Electrification Corporation and Power Finance Corporation.
These firms have been selected on the basis of their five-year dividend record. Now, an Empowered Group of Ministers will finalise the composition of the proposed fund. It will also take a call on the timing, the official added. Goldman Sachs will manage the ETF.
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Source: Business Line
China ETFs lead new launches in 2013
December 20, 2013--Exchange traded funds linked to the Chinese stock exchange were among the hottest new product launches of 2013, in a remarkable repeat of the previous year.
Observers could certainly be forgiven for feeling a sense of "déjàvu all over again" as new ETFs tracking the performance of the CSI 300 index (the 300 largest issuers on the Shanghai and Shenzhen bourses) attracted billions of dollars in inflows, just as the 2012 vintage of launches did.
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Source: FT.com
Da Cheng gets the nod to launch first A-share RQFII balanced fund
December 19. 2013--Da Cheng International Asset Management has received the green light from Hong Kong's Securities Futures Commission (SFC) to launch the first RQFII balanced fund, the Da Cheng China Balanced Fund.
The approval follows China Securities Regulatory Commission (CSRC) lifting the restrictions that stipulated the first batch of RQFII funds must have 20:80 asset allocations in Mainland equities and fixed income in March this year. Under the new initiative, RQFII funds can now access a wide array of assets including IPOs, convertible bonds, interbank bonds, as well as index futures. The Da Cheng fund is scheduled to launch in early 2014.
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Source: Asia Asset
Da Cheng gets the nod to launch first A-share RQFII balanced fund
December 19, 2013--Da Cheng International Asset Management has received the green light from Hong Kong's Securities Futures Commission (SFC) to launch the first RQFII balanced fund, the Da Cheng China Balanced Fund.
The approval follows China Securities Regulatory Commission (CSRC) lifting the restrictions that stipulated the first batch of RQFII funds must have 20:80 asset allocations in Mainland equities and fixed income in March this year. Under the new initiative, RQFII funds can now access a wide array of assets including IPOs, convertible bonds, interbank bonds, as well as index futures. The Da Cheng fund is scheduled to launch in early 2014.
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Source: Asian Asset
Optimism among large companies highest in two years
December 18, 2013--BUSINESS confidence among some of China's largest companies stood at the highest since October 2011 this month with optimism boosted by the newly announced reform agenda, a private report showed.
The monthly measure of China's business sentiment rose to 58.4 in December from 53.3 in November, fueled by a large jump in the number of firms that said the current business conditions were better than a month earlier, Market News International (MNI),, a unit of Deutsche Boerse Group, said in a report today.
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Source: Shanghai Daily.
E Fund vice GM Chen Zhimin resigns
December 18, 2013--Chinese asset manager E Fund Management announced on Tuesday (December 17) that its general manager (GM) and chief investment officer Chen Zhimin had relinquished his position, effective December 16.
Mr. Chen was one of the founders of E Fund Management when the company was established in 2001. Since then, he has held a number of senior positions in the investment department and the institutional wealth management department.
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Source: Asia Asset
Lack of commission-free debate in Asia 'a surprise'
December 18, 2013--Private bankers are not expecting commission-or retrocession-free rules in Asia soon.
Fee-for-advice is possible within a decade, but firms may need to package it with additional services.
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Source: Asian Investor
Motilal Oswal looks to export ETFs to Japan
December 17, 2013--The Indian firm is working on cross-listing exchange-traded funds on Asian exchanges outside its home market and expanding distribution
via distribution platforms.
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Source: Asian Investor
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