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The rising wave of investor/corporate engagement in Japan
July 21, 2010--Ten years have passed since an amendment to the UK Pensions Act became the world’s first regulation to require occupational pension schemes to disclose environmental, social and governance (ESG) considerations within their investment portfolios.
Its 10th anniversary was celebrated earlier this month at the House of Commons with the welcoming of Martin Clarke, executive director of financial risk at The Pensions Protection Fund as the new chair of the UK Sustainable Investment and Finance Association (UKSIF). The event was a testament to the role UKSIF has played in driving the responsible investment (RI) debate and the growing acceptance of RI across the UK investment community. Similar disclosure requirements have subsequently been adopted by countries around the world including Germany, France and Australia in 2001, and most recently Canada in 2008. In response to this growing need, a range of RI products and services have been launched in the market, including the FTSE4Good Index Series. Since the launch of the indices in 2001, FTSE’s RI Unit has entered into dialogue with many companies regarding the FTSE4Good inclusion criteria, in the process developing significant experience of the challenges they face in addressing global ESG issues and meeting investor expectations.
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Source: Responsible Investor
DB Index Research -- Weekly ETF Market Review -- Asia-Pacific
July 20, 2010--Overview
There are 228 equity based ETFs in the Asia Pacific region with 316 listings across 12 countries and 15 exchanges. Japan has the largest market share by AUM accounting for 40.73% of the whole market, whilst China has the largest market share by turnover with 34.37%.
Da Cheng International AMC Ltd. listed its first ever ETF on Hong Kong Stock Exchange which tracks the performance of CSI China Mainland Consumer Index.
Turnover
Monthly average daily turnover remained at about same level in the last week. Turnover for the previous week was USD 782m. The largest ETF by turnover was the iShares Asia Trust - iShares FTSE/Xinhua A50 China Tracker issued by BlackRock with USD 165 m accounting for 21.1% of total turnover.
Assets Under Management
AUM remained at about same level in the previous week. AUM as of July 16th was USD 63.5 bn. The largest ETF by AUM is the iShares Asia Trust - iShares FTSE/Xinhua A50 China Tracker managed by BlackRock with AUM of USD 7.0bn.
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Source: DB Index Research
China cross-border ETFs in final stage -CSRC
July 20, 2010--Two financial firms have launched new products with A shares as the underlying assets to tap Hongkongers' huge appetite for mainland stock investments.
iShares introduced two A-share consumer exchange- traded funds yesterday, offering customers more investing opportunities in the booming mainland consumer market.
Two financial firms have launched new products with A shares as the underlying assets to tap Hongkongers' huge appetite for mainland stock investments.
iShares introduced two A-share consumer exchange- traded funds yesterday, offering customers more investing opportunities in the booming mainland consumer market.
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Source: Reuters
ETFs tap A-share demand
July 20, 2010--Two financial firms have launched new products with A shares as the underlying assets to tap Hongkongers' huge appetite for mainland stock investments.
iShares introduced two A-share consumer exchange- traded funds yesterday, offering customers more investing opportunities in the booming mainland consumer market.
The two ETFs have attracted subscriptions with assets under management of up to US$105 million (HK$819 million), according to iShares, which is managed by New York-based investment firm BlackRock.
Trading of the new products - iShares CSI A-share Consumer Discretionary Index ETF and iShares CSI A-share Consumer Staples Index ETF - will begin on the local bourse today.
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Source; The Standard
Tokyo Stock Exchange Begins Calculation And Publication Of The "TOPIX And TOPIX Core30 Dividend Index"
July 20, 2010--Tokyo Stock Exchange, Inc. (TSE) will begin calculation and publication of the “TOPIX Dividend Index” and “TOPIX Core30 Dividend Index” on July 22, 2010. The indices indicate, in points, the amount of dividends to be obtained if the component stocks of TOPIX or TOPIX Core30 were held during the index calculation period.
Additionally, TSE also plans to list futures whose underlyings are these new indices, as well as the Nikkei
Dividend Index on July 26, 2010.
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Source: Tokyo Stock Exchange (TSE)
India says farms key to matching China
July 20, 2010--Improving India’s rural economy is the key to matching China’s economic growth rate of 10 per cent, Indian financial policymakers said on Tuesday.
Speaking at a meeting on growth strategy over the next four years, K.M. Chandrasekhar, the government’s cabinet secretary, said reaching double-digit growth was “largely contingent” on the farm sector’s achieving 4 per cent growth.
Particular attention, he said, was needed to secure higher productivity in India’s eastern states, Bihar and Jharkhand. Last year, a severe drought led to a contraction in farm output.
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Source: FT.com
China denies IEA claim on energy consumption
July 20, 2010--China on Tuesday dismissed claims that it was the world’s largest energy consumer, calling the latest estimates from the International Energy Agency “not very credible”.
The energy watchdog disclosed on Monday that China had overtaken the US in energy consumption, according to preliminary estimates.
The news – and China’s quick reaction – underlines the sensitivities that surround China’s thirst for energy, particularly as the government struggles to meet ambitious efficiency targets by the year’s end.
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Source: FT.com
Shanghai Applies to China Central Bank to Offer Gold Exchange Certificates
July 16, 2010--The Shanghai Stock Exchange has submitted a proposal to China’s central bank for introduction of a gold exchange certificate developed with the Shanghai Gold Exchange, said Liu Ti, an official with the stock exchange.
The gold exchange certificates, designed for institutional investors such as insurers and mutual funds, would be traded on the Shanghai exchange, Liu, director of the Shanghai Stock Exchange’s innovation department, said at a Guosen Securities Co. conference in the city of Qingdao today. They would be sponsored by the gold exchange instead of a fund as China prohibits mutual funds from investing in gold, Liu said.
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Source: Bloomberg
ICICI Prudential MF launches Gold ETF
July 16, 2010--ICICI Prudential Mutual Fund on Friday launched its open-ended exchange traded fund – ICICI Prudential Gold Exchange Traded Fund.
The investment objective of the fund is to provide investment returns that, before expenses, closely track the performance of domestic prices of Gold derived from the London Bullion Market Association fixing prices.
According to a press release, Gold ETF costs are lower than buying, storing and insuring physical gold and the units can be bought and sold on the major exchanges like the NSE or BSE.
"The Gold ETF will allow investors to participate in the future potential of this asset classes with convenience and create a holistic financial portfolio for themselves," ICICI Prudential AMC, Managing Director, Nimesh Shah said.
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Source: NDTV Profit
Chinese economy starts to cool down
July 15, 2010--The Chinese economy grew at 10.3 per cent in the second quarter over the year before, down from the previous three months as government efforts to cool the housing market and infrastructure investment began to bite.
The comparable first quarter figure was 11.9 per cent, when many economists feared China was close to overheating. For the first half of the year, the economy expanded by 11.1 per cent.
Although the slowdown was expected, other figures on Thursday suggested the economy could be cooling more quickly than forecast, including a drop in the expansion of industrial production to 13.7 per cent in June, year on year, from the 16.5 per cent increase in May.
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Source: FT.com
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