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Small MFs shy away from gold ETFs
November 25, 2010--Despite the increasing popularity of Gold ETFs (exchange traded funds), small fund houses continue to shun this asset class. They fear they might not be able to reach a critical mark in this segment.
In the current financial year, gold ETFs have emerged as a distinct asset class, witnessing continuously increasing sales and net inflows, at a time when equity funds and debt funds have had ups and downs in inflows.
Data from the Association of Mutual Funds in India show that in 2010-11 till date, gold ETFs have seen net inflows rise by close to four times, to Rs 1,169 crore (Rs 11.69 billion), compared with Rs 312 crore (Rs 3.12 billion) during the same period last year.
Yet, of the 930 mutual fund schemes available, the number of gold ETFs is merely nine.
HKEx Website to Carry Exchange Rates for Calculation of Stamp Duty and Other Trading-related Fees on RMB and USD Transactions in HKEx’s Securities Market
November 25, 2010--Hong Kong Exchanges and Clearing Limited (HKEx) will publish information about the exchange rates for Hong Kong dollars (HKD) against renminbi (RMB)* and US dollars (USD) on its website commencing from 29 November 2010 for calculation of stamp duty and other trading-related fees, including transaction levy, investor compensation levy (currently exempted) and trading fee, on transactions in the respective currencies in its securities market.
Under Hong Kong’s Stamp Duty Ordinance, when stamp duty has to be “calculated in respect of any instrument by reference to a sum of money expressed in a currency other than Hong Kong dollars, there shall, for the purpose of such calculation, be substituted for that sum of money its equivalent expressed in Hong Kong dollars at the rate of exchange prevailing on the date of the instrument” and the prevailing rate will be “as determined by the Monetary Authority.”
Hong Kong’s Inland Revenue Department has advised HKEx that the exchange rates for HKD against RMB and USD for stamp duty calculation will be made available to HKEx by 11 am or earlier on each trading day. For easy reference by market participants, the exchange rates will be published on the HKEx website. To help simplify the operations of HKEx and its Participants, the same exchange rates will be used to calculate other trading-related fees for transactions in RMB and USD concluded on the same trading day.
The HKEx website will carry HKD exchange rates against currencies other than RMB and USD if necessary.
*HKEx’s trading system and other market systems use the currency code CNY for renminbi.
Malaysian stock exchange to launch ESG index
Bursa Malaysia launches programme to promote ESG integration
November 24, 2010--The Malaysian Stock Exchange, the Bursa Malaysia, is planning to launch an environmental, social and governance (ESG) index to attract socially responsible investment (SRI) funds.
“It is our aim to be able to construct an Environment, Social and Governance (ESG) Index in the near future. This index will be a catalyst for driving more SRI funds to our market,” said exchange chairman Tun Mohamed Dzaiddin Haji Abdullah.
He was speaking at the launch of the exchange’s inaugural Business Sustainability Programme, which seeks to promote the integration of sustainable practices at listed firms.
Investment bank Woodward Partners becomes an NZX Sponsor
November 24, 2010--From the NZX website – Investment bank Woodward Partners becomes an NZX Sponsor
Woodward Partners is already working with listed companies and we are excited to be doing more with the NZX moving forward.
The NZX release:
NZX today announced that New Zealand investment bank Woodward Partners has been accredited as an NZX Sponsor.
An NZX Sponsor is an organisation that has been accredited by NZX as suitable for assisting a company to list securities on any of the NZX securities markets. NZX Sponsors can bring a new issue of securities to the market but they cannot distribute the new issue to investors. NZX Sponsors are generally banks, broker firms, accounting firms or law firms who are able to expand their client offerings by becoming an NZX Sponsor.
“Sponsor firms are a vital conduit to enable New Zealand businesses to access public capital to support their growth. Woodward Partners has a unique combination of onshore and offshore experience that will be a valuable addition to New Zealand’s capital markets,” said NZX Head of Markets Fiona Mackenzie.
“Woodward Partners is a new firm, but an experienced team. We’re heartened that in our first year of operation we’re already working with listed firms and we expect to bring new issues to the market in the next 12 months,” said Woodward Partners’ partner Mark Clare.
Woodward Partners provide advice and analysis to listed companies, private companies, government entities and entrepreneurs. The firm was founded in 2009 by Mark Clare, Nick Lewis and Mark Donnell, and has extensive experience advising companies in New Zealand as well as internationally.
China cracks down on speculators to cool prices
November 24, 2010--China’s government is widening its anti-inflation campaign, Wednesday ordering a crackdown on speculators it accuses of illegally pushing up commodity prices.
The order comes as Beijing enforces measures announced last week to cool food prices that soared more than 10 percent in October. Analysts expect Beijing to hike interest rates in coming months to rein in inflation even as Washington and other major developed economies try to shore up lackluster growth.
DB Global Equity Index & ETF Research: Asia Pacific ETP Market Weekly Review
November 23, 2010--Market Overview
There are 242 equity based ETFs in the Asia Pacific region with 336 listings across 12 countries and 15 exchanges. Japan has the largest market share by AUM accounting for 39.38% of the whole market, whilst China has the largest market share by turnover with 40.49%.
There was one new listing on the previous week. UTI Asset Management launched a new Commodity fund listed on the India Stock Exchange. The objective of this new product is to track the performance of Gold.
Turnover
Monthly average daily turnover declined 2.5% in the last week. Turnover for the previous week was USD 1,619m. The largest ETF by turnover was the iShares Asia Trust - iShares FTSE/Xinhua A50 China Tracker issued by BlackRock with USD 313m accounting for 19.3% of total turnover.
Assets Under Management
AUM declined 1.1% in the previous week. AUM as of Nov 19th was USD 75.6bn. The largest ETF by AUM is the TOPIX ETF managed by Nomura Asset Management with AUM of USD 8.8bn.
To request a copy of the report
BOCI-Prudential Continues to Pioneer in Cross-border ETF
Thai Investors Gain Access to China’s Bourses for the First Time
via a Hong Kong-Thailand Cross-Border ETF
November 22, 2010--BOCI-Prudential Asset Management Limited
(“BOCI-Prudential” or the “Company”), a leading asset management firm in Hong
Kong, is pleased to announce that it has cooperated with Krung Thai Asset
Management PCL (“KTAM”) in launching an exchange-traded fund (“ETF”), namely,
“W.I.S.E. KTAM CSI 300 China Tracker” (“W.I.S.E. KTAM CSI 300” or the “Fund”,
stock code: CHINA), that is listed on the Stock Exchange of Thailand (“SET”).
W.I.S.E. KTAM CSI 300 is a feeder fund mainly investing in “W.I.S.E. - CSI 300 China Tracker®” (“W.I.S.E. CSI 300”; stock code: 02827.HK).
The Fund is the first feeder ETF in Thailand approved by the Securities and Exchange Commission of Thailand (“Thailand SEC”) that invests in an overseas ETF, W.I.S.E. CSI 300, being a sub-fund of BOCI-Prudential’s W.I.S.E. ETF series.
KTAM launched the country’s first ETF to track China’s A-shares market. W.I.S.E. KTAM CSI 300 has been listed on the SET today.
W.I.S.E. KTAM CSI 300, or “CHINA Fund” as it is generally referred to by Thai investors, will invest, on average, at least 80% of its net asset value in W.I.S.E. CSI 300. W.I.S.E. CSI 300 seeks to track the broad-based CSI 300 Index compiled by China Securities Index Company Limited in Mainland China. The CSI 300 Index measures the financial performance of companies across all major industries in Mainland China and is a common benchmark used by major investors at home and abroad.
Mr. MAK Tat Cheung, CEO of BOCI-Prudential, said “The cross-border ETF launched and listed on the Stock Exchange of Thailand, along with the cross-border ETF listed in Taiwan last year, has not only reaffirmed our role as a regional ETF pioneer, but also proven our promptness in responding to the market’s need. We will continue to bring innovative products to the market and look for partnership opportunity in the region.”.
Dr. TANG Hing Sing, Managing Director and Head of Quantitative Strategy Business Unit of BOCI-Prudential, added “We are delighted to have W.I.S.E. CSI 300 being the first China ETF approved for investment by the feeder fund listed on the Stock Exchange of Thailand. We believe the unprecedented event will facilitate the ETF development of the already burgeoning Thailand market and this landmark development will meet the investment and diversification needs of Thailand investors.”
“The listing of China A-shares ETF, W.I.S.E. KTAM CSI 300, on the Stock Exchange of Thailand is a major step that will provide opportunity to invest in the fund that tracks China’s largest 300 companies”, said Mr. Somchai Boonnamsiri, KTAM’s Chief Executive Officer. “We are pleased to be part of this milestone listing in the Stock Exchange of Thailand. This allows the ETF issuer to introduce their financial products
to investors in another country while local investors gain access to the foreign ETF with proven track record. It is the first step to expand the availability of ETFs in Thai market and investors should benefit from the diversified product market” Mr. Somchai
added.
SRI asset growth in Australia and US outstrips mainstream market
November 19, 2010--The rate of asset growth into SRI-related strategies is outstripping the broad market growth of mainstream investment funds, according to two new surveys looking at Australia and the US. In Australia, the 2010 Benchmark report by the Responsible Investment Association Australasia (RIAA), which covers the financial year to June 30, 2010, said managed responsible investment portfolios rose by 10% from AU $14.02bn to AU $15.41bn, beating growth in the broader market of managed portfolios which rose 9% in the same period.
The RIAA report said that a broader ‘core’ responsible investment market measurement (a combination of specialised managed funds, community finance, green loans, RI charity investments and financial adviser portfolios) had risen 13% from AU $16.15bn to AU $18.19bn. Over half all funds under management in Australia are now signed to the United Nations backed Principles for Responsible Investment (PRI). The RIAA report said there had been a rise in Australian PRI signatories of 29% during 2009, with 112 Australian signatories running assets of US $591bn now representing 14% of the PRI global signatory base. Significantly, the RIAA report said Australian RI funds had outperformed average mainstream funds over one,
Gold ETFs glitter; October collections double to 13.99 tonnes
November 19, 2010--Holdings under gold Exchange Traded Funds (ETFs) saw a surge in October as collections almost doubled to 13.99 tonnes on a year-on-year basis, according to commodity analysts. Gold collections under gold ETFs in October 2009 amounted to 7-8 tonnes.
“This is the first time that gold collection numbers have doubled on a year-on-year basis,” said Mr Vibhu Ratandhara, Assistant Vice-President, Bonanza Commodity Brokers.
“They are a safe haven investment and are also preferred for reasons of portfolio diversification,” said Mr Ratandhara.
Thai bourse lists first ETF based on Chinese securities on November 22
November 19, 2010--The Stock Exchange of Thailand (SET) will list W.I.S.E-KTAM CSI 300 China Tracker, or ETF CHINA, an open-ended fund managed by Krung Thai Asset Management PCL.
It is Thailand’s fourth ETF and the first with foreign securities as its underlying. The fund will list in Unit Trust Sector on November 22, using “CHINA” as its trading symbol. This new product aims at increasing investment alternatives to Thai investors. We are confident that it will receive great attention from both institutional and retail investors, revealed SET President Charamporn Jotikasthira
