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FOFA changes will boost ETF investment
August 21, 2013--Exchange-traded funds are expected to be one of the beneficiaries of the FoFA (Future of Financial Advice) reforms, which became mandatory on July 1.
The reforms are focused on improving the quality of financial advice and enhancing retail investor protection. ETFs are expected to be used more by advisers to address these requirements. Alta Vista Research head of sales and corporate development, Michael Turner, says as a product, ETFs have the flexibility of direct shares and the strength of a managed fund.
"They’re liquid, low cost and offer immediate and ongoing investment and portfolio benefits,” he says.
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Source: Financial Review
DB-Synthetic Equity & Index Strategy-Asia-Pac Weekly ETF Positive equity markets and inflows help AUM expansion
August 20, 2013--Data in this report is as of 16 August 2013.
Market Review
Last week, all the major markets in the Asia-Pacific region remained in positive territory except Singapore. Compared to the week before, from north to south:
Japan (Nikkei 225) +0.26%
South Korea (KOSPI2) +2.51%
China (CSI 300) +0.79%
Hong Kong (HSI) +3.26%
Singapore (FSSTI) -1%
Australia (S&P/ASX 200) +1.16%
New Product Launch Review
Last week, one new product was launched in the Asia-Pacific ETP market. Penghua Fund Management listed one equity ETF (159927 CH) on Shenzhen Stock Exchange tracking CSI 300 Index. In 2013, this is the seventh ETF listed in Asia-Pacific region which provides exposure to CSI 300 index. Among the 52 new launches this year, CSI 300 is the most tracked index depicting increasing investors’ interest towards Chinese equity markets.
ETP Weekly Cash Flows-Mild weekly inflows
Last week, Asia-Pacific ETP market recorded cash inflows of +$0.5bn vs. +$0.9bn of inflows for the previous week, setting the YTD weekly flows average at +$0.4bn (+$13bn YTD in total cash flows). Developed markets equity ETFs collected largest weekly cash inflows of +$250mn over the last week. On a country level, ETFs benchmarked to Japan and China received +$309mn and +$119mn of cash inflow respectively while Taiwan experienced weekly outflows of -$105mn.
At ETP level, Maxis Nikkei 225 ETF (1346 JP) and newly listed Penghua CSI 300 Index ETF (159927 CH) were the largest cash flow receiver of the week collecting +$409mn and +$218mn respectively. Over the same period, biggest outflows were experienced by Daiwa Topix ETF (1305 JP) recording -$121mn of outflows.
Turnover Review-Floor activity down by -4.1%
Asia-Pacific ETP turnover totaled $11.7bn for the last week, -4.1% down from the previous week’s total. China took the lead in the turnover ranking with $4bn turnover, followed by Japan ($2.9bn), Korea ($2.3bn) and Hong Kong ($2.1bn). Among equity ETFs, Emerging country, leveraged long, Asia-Pacific developed country and short ETFs had total turnover of $5.6bn, $2.6bn, $1.5bn and $0.8bn respectively. Within the commodity asset class, turnover in gold ETPs totaled $119mn.
Assets under Management Review – Assets added $1.4bn
Last week, Asia-Pacific ETP AUM increased by $1.4bn, and ended the week at $156.6bn. On a year-to-date basis, Asia-Pacific ETP market is up by $20.6bn or 15.1% above last year’s closing.
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Source: Deutsche Bank-Synthetic Equity & Index Strategy-Asia
Australian ETF industry soars to reach $8 billion
August 19, 2013--The Australian exchange traded fund (ETF) industry has swelled to a record high, breaching the $8 billion mark for the first time, according to data from ETF provider BetaShares.
The total market capitalisation of the low cost index products traded on the Australian Securities Exchange (ASX) reached a total of $8.25 billion in July. Market movement was attributable for 8.1% or $618 million of the growth while a further $162 million came from capital inflows.
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Source: Financial Standard
China companies face 'credit deterioration'
August 19, 2013--China's economic slowdown and indebtedness will cause the creditworthiness of the country's biggest companies to deteriorate in the coming year, Standard & Poor's has warned in a report.
The credit rating agency has examined the balance sheets of 151 major Chinese companies - three-quarters of which are state-owned enterprises – and noted that the recent investment boom has left the corporate sector with "a large debt hangover".
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Source: FT.com
China broker probed for huge trade error
August 19, 2013--China's market regulator is investigating a domestic brokerage for a multi billion dollar trading glitch that briefly sent the benchmark stock index up more than 5% on Friday, it said.
The China Securities Regulatory Commission (CSRC) said late on Sunday that a "design defect" in the proprietary trading system of Everbright Securities caused the dramatic gain.
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Source: FIN24
State drives ETF growth in India-
August 19, 2013--Growth in the exchange-traded fund industry in India is likely to accelerate on the back of government plans to launch an ETF and introduce regulatory changes.
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Source: Financial News
Australian ETF industry passes AUD8bn milestone
August 19, 2013--The Australian exchange-traded fund industry has passed the AUD8bn mark for the first time, according to figures released by ETF provider BetaShares.
The total value of ETFs trading on the Australian Securities Exchange (ASX) rose to AUD8.25bn in July, the 10th consecutive...
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Source: Silobreaker.com
India goes back two decades as RBI imposes capital curbs to stabilise rupee
August 15, 2013--he Reserve Bank of India imposed partial capital controls on companies and individuals to stabilise the rupee, but the steps are likely to be perceived as turning the clock back on two decades of liberalisation.
Overseas direct investment (ODI) by Indian companies has been cut three-fourths, 100% from 400%, making it more difficult for local corporates to buy overseas assets.
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Source: The Economic Times
Revival of equity listings boosts HKEx profit
August 15, 2013--Increased trading volumes and income from the London Metal Exchange helped Hong Kong's stock market operator record a 10 per cent rise in second-quarter profits.
Hong Kong Exchanges and Clearing, the world’s second-largest exchange operator by market value, on Thursday reported profits attributable to shareholders of HK$1.2bn (US$150m) in the three months to June 30.
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Source: FT.com
Morningstar Publishes Guide about Investing in Chinese Equity Exchange-Traded Funds
August 15, 2013--Morningstar Asia Limited,, a subsidiary of independent investment research firm Morningstar, Inc. (MORN), has published a "Guide to Investing in Chinese Equities via ETFs," outlining the opportunities and risks investors face when accessing Chinese equities through exchange-traded funds (ETFs).
Authored by Morningstar's global ETF experts, the guide presents a comprehensive overview of global ETFs that offer exposure to Chinese equities, the nuances of investing in Chinese stocks, and the importance of an ETF's underlying exposure and relevant fundamentals. Key considerations for investors include:
view the Morningstar's Guide to Investing in Chinese Equities via ETFs report
Source: Yahoo News
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