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DB Index Research -- Weekly ETP Market Review -- Asia-Pacific
July 13, 2010--Market Overview
There are 225 equity based ETFs in the Asia Pacific region with 313 listings across 12 countries and 15 exchanges. Japan has the largest market share by AUM accounting for 40.87% of the whole market, whilst China has the largest market share by turnover with 36.52%.
Mitsubishi UFJ Asset Management listed four commodity ETFs on Japan's Tokyo stock exchange which track precious metals such as Gold, Silver, Platinum and Palladium.
Turnover
Monthly average daily turnover declined 22.3% compared to Q2 '10 ended June 30, 2010. Turnover for the previous week was USD 780m. The largest ETF by turnover was the iShares Asia Trust - iShares FTSE/Xinhua A50 China Tracker issued by BlackRock with USD 150 m accounting for 19.3% of total turnover.
Assets Under Management
AUM declined 4% in the previous week compared to last quarter. AUM as of July 9th was USD 63.3 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
BNY Mellon Western Fund Management Company
July 12, 2010--The China Securities Regulatory Commission (CSRC) has
authorized BNY Mellon and Western Securities to establish a joint venture fund management company in
China. The new company, BNY Mellon Western Fund Management Company Limited, will be owned by BNY
Mellon (49%) and Western Securities (51%).
BNY Mellon Western Fund Management will initially manage domestic Chinese securities in a range of local
retail fund products. Over time, the venture will develop further products using the scale and expertise of the
broader BNY Mellon group. BNY Mellon Western Fund Management will also focus on leveraging distribution
within the Chinese banking and securities sectors, building awareness of the new company in the region.
Dr. Bin Hu, a former senior executive at BNY Mellon Asset Management, has been appointed chief executive officer of the Shanghai-based venture.
“The Chinese authorities are creating a strong financial market and our commitment to China reflects this, not only in providing a comprehensive suite of solutions from one of the largest global asset managers in the world but also in supporting job creation,” said Jon Little, vice chairman of BNY Mellon Asset Management. “Receiving license approval from the CSRC for our new venture with Western Securities is a major step forward in the development of our business in this very important country.”
Dr. Hu added: “We have very ambitious expansion plans for our new company, which include becoming one of China’s leading QFII advisors through actively pursuing QFII sub-advisory deals with foreign institutional investors and providing access to new products in China.”
Founded in 2001 with registered capital of RMB 1bn, Western Securities is based in Xi’an and has 34 Securities Branches and 20 Securities Services offices throughout China.
Mr. Bohe An, CEO of Western Securities, said: “Opportunities to develop international partnerships here are significantly increasing to the benefit of Chinese investors. We are extremely pleased to join forces with BNY Mellon, one of the world’s strongest financial institutions. I believe we will together, over time, be able to offer a broad range of tailored asset management solutions to investors.”
BNY Mellon Asset Management, BNY Mellon’s asset management arm, was granted a Qualified Foreign
Institutional Investor (QFII) licence by the China Securities Regulatory Commission (CSRC) in November
2009*. The company is currently seeking approval from the State Administration of Foreign Exchange (SAFE)
for an initial investment quota. The approval will allow BNY Mellon Asset Management* to invest in
Renminbi-denominated treasuries and Shanghai- and Shenzhen-listed 'A' shares on behalf of overseas
investors.
Source: BNY Mellon
Economic Outlook: Inflation fears for China
July 12, 2010--Inflation figures are set to dominate the week’s economic releases, with June price statistics published in several countries, including the US, the eurozone states and the UK
Analysts, however, are not forecasting anything that should give the inflation hawks cause for concern. The minutes from the US Federal Open Market Committee’s meeting in June, released on Wednesday, should cast more light on this subject, with fears of rising energy prices thought to be the main concern for US policymakers.
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Source: FT.com
ASX to launch new ETF market making rebate scheme
July 12, 2010--The Australian Securities Exchange will introduce a new exchange-traded fund and exchange-traded commodity market making rebate scheme from 1 August 2010.
The new scheme will cover all ETFs and ETCs except those categorised by ASX as mature.
Currently only two products are deemed by ASX to be mature – STW and GOLD.
Interested trading participants will have a choice of becoming either an advanced market maker or regular market maker. Advanced market makers will be contracted to make markets on a tranche of ETF and ETC products whereas a regular market maker will have the option to pick which products they would like to be appointed to.
Source: ETF Express
Bursa Malaysia In Move To Support Exchange-traded Funds
July 9, 2010--Bursa Malaysia Bhd has rolled out several initiatives to support exchange-traded fund (ETF) listings and trading, which will help to improve the local market's liquidity and vibrancy.
Chief executive officer Datuk Yusli Mohamed Yusoff said it was the exchange's agenda to make the ETF environment as conducive and attractive as possible.
"We implemented a new market-making framework for ETFs to improve market efficiency and liquidity, as well as the process of price discovery. To date, we have five market makers among the participating organisations and are hoping that more will register as the need increases," he said.
He was speaking at the listing ceremony of the CIMB FTSE Asean 40 Malaysia and the CIMB FTSE Xinhua China 25 here today
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Source: Bernama.com
CIMB-Principal to list more ETFs
July 9, 2010--CIMB-Principal Asset Management Bhd plans to list more Exchange-Traded Funds (ETFs) in future, given the tremendous demand
for such funds globally, said Chief Executive Officer Campbell Tupling.
However, he said the plan would depend on the market acceptance for the initial listings of CIMB FTSE Asean 40 Malaysia and the CIMB FTSE Xinhua China 25 which debuted on Bursa Malaysia here today.
"We are looking to listing more ETFs. There are tremendous demand for this funds globally," he told reporters after the listing of both funds here today.
CIMB FTSE Asean 40 Malaysia opened at RM1.39, with 20,000 shares traded, while the CIMB FTSE Xinhua China 25 opened at RM1 with 15,000 shares changing hands.
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Source: Business Standard
Net outflows from funds continued in June
July 9, 2010--Domestic funds witnessed a net outflow for a successive month, in June, thanks to sucking out of money by banks and companies. Barring gold exchange traded funds, and liquid and money market funds, all other categories saw money flowing out of the fund houses' corpus.
According to the Association of Mutual Funds in India (Amfi), redemptions in June were Rs 1,19,449 crore. Income funds contributed the largest, with a net outflow of Rs 1,34,354 crore, followed by equity schemes at Rs 1,446 crore.
Liquid and money market funds had Rs 17,029 crore and Rs 59 crore as net inflows in June, respectively.
"The banks and corporates took out the funds in the later part of the month because of the quarter-end. Advance tax, 3G and BWA auctions were the major two factors responsible for money outflow," said Jaideep Bhattacharya, chief marketing officer at UTI Mutual Fund.
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Source: Business Standard
MSCI Japan Index-linked ETF to be Listed (managed by Nikko Asset Management Co., Ltd.)
July 7, 2010--Today, Tokyo Stock Exchange, Inc. (TSE) approved the listing of the "Listed Index Fund Japan Equity (MSCI Japan)", an ETF managed by Nikko Asset Management Co., Ltd.
| Code | 1544 (ISIN JP3047230002) |
| Name | Listed Index Fund Japan Equity (MSCI Japan) |
| Fund Administrator | Nikko Asset Management |
| Listing Date | July 27, 2010 |
| Trading Unit | 10 units |
| Underlying Index | MSCI Japan Index |
With this listing, there will be a total of 93 ETFs listed on the Tokyo market, bringing us closer to the goal of 100 listed ETFs by the end of fiscal year 2010, as laid out in the Medium-Term Management Plan. The TSE will continue working to diversify the ETF market and improve the convenience of our market for all investors.
Source: Tokyo Stock Exchange
Chi-X Japan Receives Launch Approval-Chi-X Japan's PTS license granted; trading expected to begin July 29
July 7, 2010--TOKYO, Jul 06, 2010 (BUSINESS WIRE) -- Chi-X(R) Global Inc. today announced that its Japanese subsidiary, Chi-X Japan Limited, has been granted a PTS (proprietary trading system) License by the Japan Financial Services Agency (FSA). Trading on the Japanese equities platform is expected to begin July 29.
Chi-X Global currently operates Chi-X Canada and is soon expected to launch Chi-East, the Chi-X Global / Singapore Exchange Limited joint venture that will be the region's first exchange-backed, non-displayed trading platform(1). Chi-X Global is a subsidiary of electronic trading pioneer Instinet Incorporated, which is the largest and founding shareholder of Chi-X Europe(2). Instinet is a wholly-owned subsidiary of Nomura Holdings, Inc.
Ron Gould, CEO for Chi-X Asia-Pacific, commented: "The new Chi-X market center for Japanese equities will give us the opportunity to introduce important benefits to a wide range of participants and investors in Japan. Chi-X Global's high-speed, low-cost and intelligent trading model is widely recognized as providing additional market liquidity, significantly reduced costs and improved execution performance. We're excited by the prospect of bringing these same benefits to investors in Japan."
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Source: Chi-X(R) Global
FTSE Xinhua Quarterly Index Review Results
Huatai Securities (A) to be added to FTSE/Xinhua China A 50 Index
No change to FTSE/Xinhua China 25 Index
July 7, 2010--, FTSE Xinhua Index (FXI) today announces the results of its quarterly index review. In the FTSE/Xinhua China A50 Index, which forms the basis of the world’s largest Chinese themed ETF, Huatai Securities (A Share, 601688) will replace Poly Real Estate Group (A Share, 600048).
Other changes were also approved for the FTSE Xinhua B 35, FTSE Xinhua 200, 400, Small Cap and Regional indices. Full details of the additions and deletions in the FTSE Xinhua Index Series can be found here. All the changes will take effect from Monday 19 July, 2010.
The FTSE Xinhua Index Series is reviewed quarterly in January, April, July and October by an independent index committee, comprising of local and international financial market experts in accordance with the index ground rules. The reviews ensure that the indices accurately reflect the markets they represent. This is essential as the indices are used to benchmark investment portfolios and as the basis of index-linked products.
The index series is widely regarded as the leading measure of the Chinese market by domestic and international investors. The FTSE/Xinhua China 25 and FTSE/Xinhua China A50 are used as the underlying indices for the largest Chinese themed ETFs globally with total assets at nearly USD 14 billion as at 1 July 2010.
More information about the FTSE Xinhua Index Series is available at www.ftsexinhua.com.
Source: FTSE
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