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Betashares Australian ETF Review: End of 2022 Review & Month of December 2022
January 18, 2023--End of 2022 Review: A port in the storm in 2022
In a highly turbulent year in financial markets, the ETF industry continued to take in new money from investors, even as asset values declined, making it one of the few bright spots in a very hard year for the broader asset management industry.
Exchanged Traded Funds Market cap
Australian Exchange Traded Funds Market Cap(ASX + CBOE): $133.7B
Market cap growth (decline) for year: -2%, -$3.2B
Comment: In total the Australian ETF industry received $13.5B of net inflows, in a year where the unlisted funds industry sustained net outflows of -$26.8B, marking the worst year on record for Australian managed funds1. The ETF industry's positive net flows were, however, not enough to combat the asset value declines caused by falling share and bond markets, and, as a result the industry itself fell in value by 2%.
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Source: betashares.com.au
Asia's Productivity Needs a Boost That Digitalization Can Provide
January 9, 2022--Amid slowing global growth, promoting technological adoption and closing digital divides can help the region boost aggregate productivity and economic output
Asia's strong economic rebound from the pandemic is losing steam as tightening financial conditions, reduced export demand, and China’s sharp and uncharacteristic slowdown dim the outlook.
More broadly, deep economic scars from the pandemic and the lackluster productivity growth that preceded it are weighing on the region’s longer-term growth prospects. But despite these challenges, we see a promising path for boosting Asia’s productivity that runs through a landscape in which it has a history of leadership: digitalization.
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Source: IMF.org
Accelerating Innovation and Digitalization in Asia to Boost Productivity
January 9, 2023-Abstract
COVID-19 hit on the back of weakening productivity growth in many advanced and emerging Asian countries, a trend that could be exacerbated by the pandemic. Interestingly, productivity growth in the region was slowing even amid increased innovation effort, as proxied by spending on research and development (R&D) and number of patents. A key element underpinning this disconnect is the growing dispersion in productivity growth, innovation effort, and digitalization across and within sectors.
Asia has risen to become an innovation powerhouse, contributing to more than half of world patents. The rise of Asia as an innovation hub has been driven by a few frontier countries that have experienced a sharp increase in digital and computer-related patents, supported by solid R&D spending and a large share of researchers in the labor force. Within countries, R&D has become more concentrated in a smaller share of firms in frontier Asia. Empirical evidence using firm-level data highlight that the high concentration in R&D is associated with large dispersion in productivity. External exposure to competition and innovation, including through trade, supports innovation and help close productivity gaps for firms closer to the frontier. Non-frontier Asian developing countries have benefited from technology diffusion through a higher share of imported high-technology goods and by granting more patents to non-residents, supported by improvements in human capital and digital infrastructure.
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Source: imf.org
China: Domestic and External Conditions are Leading to a Weakened Economic Outlook
December 20, 2022-Increasing vaccinations among most at risk, and access to effective COVID-19 treatments key for safer reopening
Economic activity in China continues to track the ups and downs of the pandemic-outbreaks and growth slowdowns have been followed by uneven recoveries.
Real GDP growth is projected to reach 2.7 percent this year, before recovering to 4.3 percent in 2023, amid a reopening of the economy, according to Navigating Uncertainty, the latest China Economic Updatereleased today by the World Bank.
"Continued adaptation of China's COVID-19 policy will be crucial, both to mitigate public health risks and to minimize further economic disruption," said Mara Warwick, World Bank Country Director for China, Mongolia and Korea. "Accelerated efforts on public health preparedness, including efforts to increase vaccinations especially among high-risk groups, could enable a safer and less disruptive re-opening."
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Source: worldbank.org
Hong Kong launches first crypto ETFs
December 16, 2022--Fund products part of city's push to overtake rival Singapore as Asia's digital asset hub
Hong Kong launched its first two exchange traded funds for cryptocurrency futures on Friday, following through on a commitment made in October to turn the city into a regional digital asset hub rivalling Singapore.
The ETFs made slight gains on their debut, after raising almost $79mn in initial investment. CSOP Asset Management'’s bitcoin futures and ether futures ETFs raised $58.9mn and $19.7mn, respectively, ahead of their listings, the Hong Kong-based group said in a statement. The ETFs allow investors in the city access to cryptocurrency futures traded on the Chicago Mercantile Exchange.
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Source: ft.com
Indonesia's Economy Sees Rebound in 2022 following Post-Covid Reopening
December 15, 2022--Delivering on Indonesia's Trade Potential Could Boost Long-Term Growth, Economic Transformation
Indonesia is projected to experience strong growth of 5.2 percent in 2022 thanks to the post-COVID-19 reopening of the economy and commodity price rises, with growth expected to be maintained on average at 4.9 percent over the medium term (2023-25), the World Bank said in a report released today.
Indonesia's economic conditions have remained stable amid global shocks, according to the latest edition of the Indonesia Economic Prospects. Although inflation has picked up, reaching 5.7 percent year-on-year in October, and food prices increased by 7.9 percent year-on-year in September, inflation is projected to peak in 2023 at 4.5 percent and is expected to remain at Bank Indonesia’s upper bound target at an average of 3.5 percent over 2024 and 2025.
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Source: worldbank.org
Thailand Economic Monitor: Fiscal Policy for a Resilient and Equitable Future
December 14, 2022--Key Findings
Thailand's economy has shown resilience to recent global shocks, with output surpassing its pre-pandemic level in the third quarter of 2022.
Economic growth accelerated to 4.5% in the third quarter of this year fueled by resurgent private consumption and strong tourism inflows.
Tourism arrivals reached 45% of the pre-pandemic level in September, surpassing those in Indonesia and the Philippines.
Despite higher revenue from tourism, the current account deficit reached 5.7% of GDP in the third quarter of 2022 due to structurally large net oil imports and a cyclical deterioration in the goods trade balance.
Price pressures remained elevated, with headline inflation at 6% registering second highest among major ASEAN economies and have broadened to core inflation.
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Source: worldbank.com
JPMAM launches active sustainable ETFs
December 13, 2022--J.P. Morgan Asset Management has launched two new active sustainable exchange traded funds (ETFs) on the Australian Securities Exchange (ASX), the JPMorgan Climate Change Solutions Active ETF (T3MP) and JPMorgan Sustainable Infrastructure Active ETF (JPSI).
Both funds would take active approach to finding companies that are developing solutions that focus on both climate change and sustainability, the firm said.
T3MP would invest in companies believed to benefit from growing demand for climate change solutions, including companies producing less carbon-intensive energy such as wind or solar power; improving the electric grid; investing in less carbon-intensive forms of agriculture, construction, or transportation; or developing technologies to reduce waste.
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Source: financialnewswire.com.au
Japan's market seen as ready for inverse JGB and Treasury ETFs
December 12, 2022--Tokyo stock exchange official says institutions are keen for more instruments to minimise risk exposure
Inverse Japanese government bond or inverse US Treasury ETFs will be launched "sooner or later" in Japan, because local institutions are on the lookout for more instruments to minimise risk exposure, a Tokyo stock exchange official said.
"That's the one interesting agenda that asset managers are looking at," said Kei Okazaki, head of ETF secondary trading at the Tokyo Stock Exchange, who regularly communicates with about 700 institutional investors every year.
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Source: ft.com
India Better Positioned to Navigate Global Headwinds Than Other Major Emerging Economies: New World Bank Report
December 6, 2022-India's economy has demonstrated resilience despite a challenging external environment, says the World Bank in its latest India Development Update, a World Bank flagship publication. The report titled "Navigating the Storm", finds that while the deteriorating external environment will weigh on India's growth prospects, the economy is relatively well positioned to weather global spillovers compared to most other emerging markets.
Impact of a tightening global monetary policy cycle, slowing global growth and elevated commodity prices will mean that the Indian economy will experience lower growth in 2022-23 financial year compared to 2021-22. Despite these challenges, the update expects India to register a strong GDP growth and remain one of the fasted growing major economies in the world, due to robust domestic demand.
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Source: worldbank.org
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