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Vanguard expands ETF range, cuts fees
May 16, 2011--Vanguard has added three exchange-traded funds (ETFs) to its existing offering of four ETF products, and has also significantly decreased the management fees on its two existing Australian ETFs.
The new products include a high-yield ETF based on the FTSE ASFA Australian high dividend yield index, which contains a basket of around 60 stocks, with an annual fee of 25 basis points.
The firm also announced a large cap ETF based on the MSCI Australian large cap index which covers the top 70 per cent market capitalisation of the Australian share market
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Source: Money Management
Nikkei 225 hits lowest level in a month
May 16, 2011--Tokyo's Nikkei 225 fell to its lowest level in a month on Monday, after Goldman Sachs cut its recommendation on Japanese stocks from "market weight" to "underweight".
The move chimed with a sustained bout of risk aversion as investors continued to assess the potential impact on utility stocks and banks of the government’s plans to tap the sectors to support compensation costs faced by Tokyo Electric Power after the Fukushima nuclear crisis.
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Source: FT.com
TSE to Begin Calculating and Publishing "TOPIX Risk Control Index"
May 16, 2011--The Tokyo Stock Exchange begins calculating and publishing the TOPIX Risk Control Index to satisfy the market demands of tracking the return of a strategy that applies dynamic exposure to an underlying index in an attempt to control the level of volatility.
The TOPIX Risk Control Index consists of 5% volatility, 10% volatility and 15% volatility.
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Source: TSE
SSE to Introduce Cross-border ETFs This Year
Debut of Hong Kong share ETFs is drawing near as regulators, bourses and industry representatives from China's mainland and Hong Kong gathered in Hong Kong on May 13 for a seminar on cross-border products cooperation and development.
Cross-border ETFs may adopt "T+2" settlement.
May 15, 2011--Both capital markets in China's mainland and Hong Kong are facing hard-won development opportunities, and both the Shanghai Stock Exchange (SSE) and Hong Kong Exchanges & Clearing Ltd. (HKEx) bear the tasks and missions of better serving China's economic growth according to the newly released "12th Five-year" Plan.
Moreover, the progression of RMB globalization is rejuvenating the two capital markets. Under this circumstance, the above two bourses must join hands to share the development opportunities, SSE President Zhang Yujun said.
"We have reached a consensus on the cross-listing of index products, and expect more cross-listed products including ETFs and closer cooperation in the future." Zhang added.
As to the regulations on dual listing of ETFs, Secretary K C Chan for Financial Services and the Treasury Bureau said that relevant regulations had been basically in place after the 6th and 7th supplementary agreements on CEPA were signed between China's mainland and Hong Kong. HKEx Chairman Ronald Arculli pointed out that thanks to the current high demand for ETFs and index products on the Asian market, the SSE and HKEx may make closer cooperation in ETFs, especially cross-listing of index products, in the days to come.
In terms of the launch timetable, SSE Vice President Liu Xiaodong said that cross-border ETFs are just a few months away. Director Zhao Xiaoping of the SSE Products Development Department unveiled that ETF would make its debut before the end of 2011 as no obstacle is seen at present. Considering the "T+2" settlement adopted for HK ETFs, the first cross-border ETFs will follow suit.
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Source:Shanghai Securities News
Mongolia: Financial System Stability Assessment-IMF Country Report
May 13, 2011-EXECUTIVE SUMMARY
Financial stability has been re-established but it is still delicate.
Mongolia is currently enjoying a vigorous economic recovery. The 2009 Stand-by Arrangement has been successful in restoring economic and financial stability. Economic
growth is expected to surpass 10 percent this year and the extreme pressures that the financial
system faced during 2008-09 have eased. The authorities are making progress in
restructuring the banking sector. Two state-owned banks were placed under conservatorship and will eventually be sold to strategic investors.
Nevertheless, challenges remain. The banking system is heavily exposed to credit and market risks and the quality of bank capital is weak. Further efforts are needed to strengthen
supervision and regulation—in particular, stricter enforcement of prudential rules, regular stress testing, developing a crisis management plan and conducting consolidated supervision would help enhance the resilience of the banking sector.
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Source: IMF
HKEx: Growth Of ETFs, Other Index Products Discussed At Conference
HKEx Chairman Ronald Arculli-Opening Remarks
May 13, 2011--Good morning.
It's great to see so many people here this morning, and I would especially like to warmly welcome our friends from the Mainland to Hong Kong. I hope you get to enjoy some delicious Cantonese food and shopping during your stay!
We are always very pleased to work together with the Shanghai Stock Exchange. As many of you are aware, our two exchanges signed the Closer Cooperation Agreement in January 2009 to further solidify our working relationship as we strive towards the common goals of mutual prosperity and the greater development of China’s economy.
Since the signing of the agreement, the management of HKEx and the Shanghai Stock Exchange have been meeting on a regular basis. We met in January this year to discuss several cooperation opportunities and one of these was a joint conference on product development. Last March we had a joint conference in Shanghai, and now it is our turn to be the host.
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Source: HKEx
Singapore Fund Industry Assets Grew 13 pct to S$1.4 trln
May 12, 2011--Assets managed by Singapore-based fund managers grew 13 percent to S$1.4 trillion ($1.13 trillion) last year, showing the Southeast Asian city-state continues to keep pace with Hong Kong as a key Asian financial centre.
"Assets under management by fund managers in Singapore have reached a new high of S$1.4 trillion," permanent secretary for finance Peter Ong said at an industry conference on Thursday.
Source: Reuters
Herman Chen appointed as Head of Lyxor ETF distribution for the Asia Pacific region
May 12, 2011--Lyxor Asset Management, a wholly owned subsidiary of Société Générale, announced the appointment of Herman Chen as Head of Lyxor ETF distribution for the Asia Pacific region, based in Hong Kong.
Herman Chen will further promote the Lyxor ETF brand to its institutional client base with a particular focus on sovereign wealth funds. He will also work towards strengthening our ETF franchise awareness in the various regional retail markets.
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Source: Lyxor
China lifts Japanese bond holdings
May 12, 2011-China bought the most Japanese long-term bonds and notes since at least 2005 in March, sparking speculation that the country may be diversifying its foreign exchange reserves into the yen.
The latest figures from Japan’s finance ministry show net inflows from mainland China into Japanese bonds with maturities of over a year reached Y234.5bn ($2.9bn) in March. It marks the sixth straight month of net purchases, although the previous months’ buying was much smaller.
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Source: FT.com
Nomura's NEXT FUNDS Thai Stock SET50 Exchange Traded Fund Lists on Tokyo Stock Exchange
Mat 12, 2011--Nomura Asset Management Co., Ltd., Japan's largest asset manager and a wholly owned subsidiary of Nomura
Holdings, Inc., today listed its NEXT FUNDS Thai Stock SET50 Exchange
Traded Fund (ticker: 1559) on the Tokyo Stock Exchange, marking the first listing of a Thai-stock ETF in Japan.
The ETF is designed to track the SET50 Index, a widely recognized Thai stock
price index calculated by the Stock Exchange of Thailand, and directly holds a portfolio composed of Thai stocks (including depositary receipts).
A listing ceremony was held today at the Tokyo Stock Exchange attended by Mr. Toshihiro Iwasaki, Deputy President of Nomura Asset Management; H.E. Virasakdi Futrakul, Ambassador of the Kingdom of Thailand to Japan; Mr. Veerathai Santiprabhob, Executive Vice President and Chief Strategy Officer of SET; and Mr. Atsushi Saito, President & CEO of TSE.
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Source: Nomura
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