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BNY Mellon considers extending clearing operations to Asia
October 18, 2013--BNY Mellon, the global custodian bank, is considering extending its clearing operations to Asia as it looks for opportunities created by upheaval in global derivatives markets.
Sanjay Kannambadi, chief executive of BNY Mellon Clearing, said a proposal at the US-based bank to begin clearing for customers from an Asian entity was "under consideration".
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Source: FT.com
SSgA launches ETF portfolio for advisers
October 17, 2013--State Street Global Advisors (SSGA) has launched six exchange traded fund (ETF) model portfolios that advisers will be able to access through OneVue's unified managed account.
The funds include five risk-based models that range from high growth to conservative, as well as an asset allocation model that incorporates a cash-plus approach with a focus on capital preservation when there is volatility.
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Source: Financialstandard.com
Praemium to host 5 more BetaShares ETFs
October 16, 2013--The Praemium SMA platform has agreed to include five more BetaShares exchange traded funds that focus on domestic equities strategies, currencies and commodities.
The new inclusions take to 10 the number of BetaShares ETFs the Praemium SMA will host. The platform also hosts ETFs from ETF Portfolio Solutions, iShares, AltaVista and the State Street SPDR series.
The $1 billion platform now boasts more than 100 model portfolios offered by almost 30 investment managers.
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Source: Financial Standard Online
China securities regulator calls for more retail investor protection
October 16, 2013--China should implement more policies to protect retail stock investors to ensure the healthy development of the country's capital market, the head of the securities regulator said on Wednesday.
Retail investors with less than 500,000 yuan ($81,900) of investment account for about 60 percent of the total market transaction value, but they suffer from inadequate information disclosure by listed companies as well as illegal behavior by some of them, Xiao Gang, the chairman of the China Securities Regulatory Commission (CSRC), wrote in the official People's Daily.
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Source: Reuters
Van Eck Global's Subsidiary Launches Four ETFs in Australia; Targets Resources, Banks, and REITs
October 16, 2013--Van Eck Global announced today that its subsidiary Market Vectors Australia has launched four new locally registered exchange-traded funds (ETFs) on the Australian Securities Exchange (ASX).
The four new Australian sector ETFs are the Market Vectors Australian Banks ETF, the Market Vectors Australian Resources ETF, the Market Vectors Australian Emerging Resources ETF, and the Market Vectors Australian Property ETF. These ETFs seek to track indices developed by Market Vectors Index Solutions (MVIS).
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Source: Van Eck Global
India: The Current Downturn Presents an Opportunity to Push Ahead With Reforms to Accelerate Growth, Says World Bank
Expects GDP to expand 4.7% in 2014 and 6.2% in 2015; pace of poverty reduction faster, especially in low income states
October 16, 2013--Recent global market turmoil is unlikely to have major adverse effects on India and instead provides an opportunity to regain growth momentum through further progress on reforms, says the latest India Development Update of the World Bank.
According to the Update, a twice yearly report on the Indian economy and its prospects, global investors have focused more intensely on large emerging economies with greater current account and fiscal deficits as they withdrew funds from emerging markets in anticipation of an early end to the US Federal Reserve's quantitative easing program. In this risk-averse environment, India's large twin deficits and slowing growth momentum added to investors' fears.
"Recovering the higher rates of growth in India is critical to achieving the global goal of ending extreme poverty by 2030,” said Martin Rama, chief economist for the South Asia Region at the World Bank. "While the reform momentum has accelerated in the last few months, the current situation offers an opportunity to further strengthen the business environment and enhance fiscal space.”
The report expects real GDP to expand by 4.7% this fiscal year (FY2014) before accelerating to 6.2% in FY2015. Although output growth in the first quarter of the current fiscal year fell to 4.4%, growth is expected to rebound strongly in the second half of FY2014 with core inflation trending down, a bumper crop expected in agriculture (where a 5% increase in area sown is expected to raise agricultural growth to 3.4% from 1.9% a year ago), and exports likely to benefit substantially from the rupee's depreciation. Growth is expected to improve further in the medium term as strengthening exports support a recovery in industrial activity and new investment projects come on stream.
view the World Bank India Development Update: October2013
Source: IMF
DB-Synthetic Equity & Index Strategy-Asia-Pac Weekly ETF Market Review-Japan focused ETFs continue to attract inflows
October 15, 2013--Data in this report is as of 11 October 2013.
Market Review
Last week, all the major markets in the Asia-Pacific region advanced on the hope of U.S. government would break the deal deadlock to raise the borrowing cap and prevent a default. Compared to the week before, from north to south:
Japan (Nikkei 225) +2.71%
South Korea (KOSPI2) +1.75%
China (CSI 300) +2.47%
Hong Kong (HSI) +0.34%
Singapore (FSSTI) +1.33%
Australia (S&P/ASX 200) +0.44%
New Product Launch Review
Last week, one new product was launched in the Asia-Pacific ETP market. Mirae Asset MAPS Global Investments listed one sector ETF (182480 KS) on the Korea Stock Exchange tracking MSCI US REIT Index. This is the second ETF in Asia which is providing exposure to US real estate sector. Previously, Korea Investment Trust listed one ETF (181480 KS) in Aug’13 tracking Dow Jones US Real Estate Index.
ETP Weekly Flows-Japan ETFs see +$284mn of inflows
Last week, Asia-Pacific ETP market recorded outflows of -$43mn vs. +$563mn of inflows for the previous week, setting the YTD weekly flows average at +$326mn (+$13.4bn YTD in total flows). On a country level, ETFs benchmarked to Japan and Hong Kong were the largest movers of the week. Japan focused ETFs collected +$284mn of inflows while Hong Kong focused ETFs experienced outflows of -$213mn.
Winners and losers: At ETP level, Daiwa Topix ETF (1305 JP), Maxis Nikkei 225 ETF (1346 JP) and Nomura Nikkei 225 ETF (1321 JP) were the largest cash flow receiver of the week collecting +$293mn, +$230mn and +$154mn respectively. Over the same period, biggest outflows were experienced by Daiwa Nikkei 225 ETF (1320 JP) and Tracker Fund of Hong Kong (2800 HK) recording -$737mn and -$221mn of outflows respectively.
Turnover Review -Floor activity up by 7.1%
Asia-Pacific ETP turnover totaled $10.1bn for the last week, 7.1% up from the previous week’s total. Japan took the lead in the turnover ranking with $3.4bn turnover, followed by South Korea ($3.1bn), China ($2bn) and Hong Kong ($1.3bn). Among equity ETFs, Emerging country, leveraged long, Asia-Pacific developed country and short ETFs had total turnover of $3.6bn, $3.2bn, $1.5bn and $0.8bn respectively. Within fixed income asset class, turnover in sovereign and money market ETFs totaled $234mn and $224mn respectively.
Assets under Management Review - Assets increased by $2.2bn
Last week, Asia-Pacific ETP AUM increased by $2.2bn and ended the week at $165.5bn. On a year-to-date basis, Asia-Pacific ETP market is up by $29.5bn or 21.7% above last year's closing.
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Source:Deutsche Bank-Synthetic Equity & Index Strategy-Asia
ESMA unable to recognize equivalence of Hong Kong's clearing
October 14, 2013--Because the laws implementing Hong Kong's over-the-counter clearing scheme haven't been adopted, Hong Kong is falling behind other Asian markets in gaining equivalency recognition from the European Securities and Markets Authority.
"While it is unclear when the primary legislation in Hong Kong will be passed, ...
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Source: Smartbrief
Index Tracker For The Masses
October 14, 2013--Recently, the SPDR Straits Times Index Exchange Traded Fund (SGX: ES3), or STI ETF, that tracks the Straits Times Index (SGX: ^STI), was reclassified as an Excluded Investment Product (EIP).
Previously, the STI ETF was classified as a Specified Investment Product (SIP) and investors looking to invest in the ETF had to undertake Customer Knowledge Assessment with their brokers to show that he or she has the relevant knowledge or experience to invest in such shares.
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Source: The Motley Fool
Demand for SGX FTSE China A50 Index Futures continues to grow fast
October 11, 2013--The liquidity and volume in the SGX FTSE China A50 Index Futures continued to grow fast, the Singapore Exchange said Friday.
The contract achieved an average daily volume of 88,729 contracts and an open interest level of 202,547 contracts in September.
Denominated in U.S. dollar, the SGX A50 Futures are the only offshore futures tracking the China A-shares market.
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Source: Shanghai Daily
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