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SSE Releases "Guidelines for Development and Innovation of Fund Products"
August 8, 2012--With a view to implementing the requirement of Chairman Guo Shuqing for promoting fund management companies to accelerate the transition to modern wealth management institutions and supporting them to develop fund products meeting risk return demands of different investors in a market-oriented and customer-centered approach, the Shanghai Securities Exchange (SSE) has recently published and implemented the "SSE Guidelines for Development and Innovation of Fund Products" after having solicited opinions from fund companies for several times.
The guidelines will ease a restriction on the development of only one ETF product for one index.
The Guidelines defines basic requirements and procedures for fund companies developing SSE-listed regular and innovative products to encourage and support them in product development and business innovation.
iShares loses Asia sales head
August 8, 2012--Sandra Lee, BlackRock's head of sales for iShares ifor Asia ex-Japan, has left the company "to pursue other opportunities and interests", according to a BlackRock representative.
“We will provide an update on the role in due course,” according to the official, declining provide additional details when asked about Ms Lee’s replacement or how the role will be transitioned.
TSE ETF/ETN Monthly Report for Jul 2012 view the ETF/ETN Monthly Report for Jul 2012 DB-Equity Research-Asia-Pac-ETF Market Weekly Review: ETP market recorded $2.4bn inflows in July
ETP Monthly Flows
Turnover Review
Asset Under Management Review Tokyo Exchange Glitch Halts Derivatives Trading Trading halts have periodically hit most of the world's major exchanges, highlighting the complexity and importance of the computer systems used to run them. On Monday, trading in Spanish equities was disrupted for more than four hours as a technical glitch hit the systems of stock-market operator Bolsas y Mercados Espanoles SA, BME.MC +0.34%though it didn't appear to have caused significant losses for market participants. read more China to launch domestic bond ETFs -paper Two Thematic Indices: SZSE Consumer 50 and SZSE Health Care 50 are Issued by SZSE Today According to the complication plan, the sampling scope for Consumer Thematic Index includes the listing companies in consumer discretionary industry and consumer staples industry; the sampling scope for Health Care thematic Index includes listing companies in medicine and health care industry and drug retail sub-industry. 50 A-share listing companies with strong representativeness and good liquidity are chosen respectively from related thematic markets for the sample stocks of SZSE Consumer 50 Index and SZSE Health Care 50 Index. In the process of calculation, the weight of every single sample stock will not exceed 10%. India pledges clarity in tax laws as it seeks growth
There are fears that the law may deter foreign investors from entering India and hurt the country's growth. Opportunities in China as requirements relaxed Govt to decide this month on ETF for share sale
August 7, 2012--Agricultural ETFs have significantly expanded their trading value over the last month.
In line with a worldwide increase in trading agricultural products in July, corresponding ETFs' trading value has increased alongside.
Of particular importance here are the “ETFS Corn ETF (1696)”, the “ETFS Soybean ETF (1697)”, both issued by ETF Securities, as well as the “iPath® S&P GSCI® Grain Index Total Return JDR (2026)” issued by Barclays.
The top scorer in terms of 30 days volatility, the “ETFS Natural Gas (1689)” has also soared in trading value and reaches no. 11 in the ranking.
August 7, 2012--Market Review
Last week, all the markets in the Asia-Pacific region were in positive territory except Japan. In all, Japan (Nikkei 225) slid by 0.13%, Korea (KOSPI2) was up by 1.07%, China (CSI 300) climbed 0.20%, Hong Kong (HSI) advanced by 2.03%, Singapore (FSSTI) gained 1.76%, and Australia (S&P/ASX 200) increased by 0.28% over the previous week.
New ETP launches
There was no new listing during last week in the Asia-Pacific region.
Asia-Pacific ETP market recorded monthly cash inflows of $2.4bn for the month of July, taking the YTD cash flows to +$20.8bn or 27.7% of last year’s end AUM. Prior to that, Asia-Pacific region recorded monthly flows of $1.1bn, $13.3bn and $4.4bn for April, May and June respectively. Equities had the lion’s share in the monthly cash flows contributing $2.1bn, with fixed income and commodities registering $220m and $27m respectively.
Within Equity products, Emerging Country ETFs emerged as the single largest recipient of monthly cash flows totaling $1.6bn. ETFs offering exposure to country indices attracted robust inflows; China, Korea and Taiwan received $1.1bn, $256m and $205m respectively.
Asia-Pacific ETP turnover totaled $7.3bn for last week, 10.9% up from the previous week’s total. South Korea comes to be on top of the turnover ranking with $3.8bn, followed by China ($1.3bn), Hong Kong ($1.3bn), Japan ($0.5bn), and Australia ($0.2bn). Among Equity ETFs, Emerging Country, Leveraged Strategy, Asia Pac Developed Country, and Short Strategy ETFs recorded total turnover of $2.9bn, $1.7bn, $1.1bn and $1.1bn respectively. Under the Commodity asset class, turnover in Gold ETPs totaled $60m.
Last week, Asia-Pacific ETP AUM ended at $111.7bn. On a year to date basis, Asia-Pacific ETP assets are up by $20.2bn or 22% above last year’s closing.
July 7, 2012--The Tokyo Stock Exchange temporarily suspended all derivatives trading soon after trading opened on Tuesday because of an unidentified system problem, the second significant trading glitch on the exchange this year.
Normal trading resumed after a 93-minute halt, and officials were still looking into the cause after the market closed.
August 7, 2012--China is preparing to launch exchange-traded funds (ETF) tied to the domestic bond market, the Shanghai Securities News reported on Tuesday, underscoring Beijing's efforts to open up its investment market.
Guotai Asset Management Co Ltd and Bosera Asset Management Co will likely be among the first firms to launch such funds, the paper said. Bosera has already received preliminary approval from the Shanghai Stock Exchange to begin preparatory work.
August 6, 2012--Shenzhen Stock Exchange and Shenzhen Securities Information Co., Ltd. jointly declared on August 6, 2012 to issue two thematic indices: SZSE Consumer 50 Index (Code: 399646, Abbreviation: SZSE Consumer 50) and SZSE Health Care 50 Index (Code: 399647, Abbreviation: SZSE Health Care 50).
Both indices take December 31, 2004 as the base date, and 1000 points as base point.
August 6, 2012--India's new finance minister, Palaniappan Chidambaram, has pledged to clarify tax laws and take measures to boost investment in the Indian economy.
In its latest budget, the government had proposed laws which would allow retrospective taxation, a move that was widely criticised.
August 5, 2012--The China Securities Regulatory Commission has lowered the entry threshold for Beijing's qualified foreign institutional investor scheme and broadened the investment scope.
The new "administrative rules on onshore investment of qualified foreign institutional investors" were introduced to help further open up China’s capital markets, according to the CSRC.
August 5, 2012--The finance ministry is expected to take a final decision by this month-end on exchange traded fund (ETF) for selling shares of state-owned firms as part of steps to meet the disinvestment target of Rs. 30,000 crore this fiscal.
"ETF in-principle has been talked about," a top finance related stories
Chidambaram may revive divestment
ministry official told PTI. “There has been firming up certain views on this. It is expected to be finalised during the month.”
