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DB Index Research -- Weekly ETF Reports -- Asia-Pacific
November 25, 2009--Highlights
Market Overview
There are 193 equity based ETFs in the Asia Pacific region with 252 listings across 12 countries and 15 exchanges. Japan has the largest market share by AUM accounting for 39.39% of the whole market, whilst China has the largest market share by turnover with 48.01%.
There were 5 new listings in the last week. BGI listed 5 new ETFs on the Hong Kong Stock Exchange.
Turnover
Monthly average daily turnover declined 5.9% in the last week. Turnover for the previous week was USD 962m. The largest ETF by turnover was the China 50 ETF issued by China Asset Management with USD 263m accounting for 27.4% of total turnover.
Assets Under Management
AUM declined 1.9% in the previous week. AUM as of Nov 23rd were USD 59.9bn. The largest ETF by AUM is the iShares Asia Trust - iShares FTSE/Xinhua A50 China Tracker, managed by BGI, with AUM of USD 6.5bn
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Barclays Capital Launches Global Stimulus Fund
November 20, 2009--Barclays Capital, the investment banking division of Barclays Bank PLC and a leading provider of retail structured products globally, has launched the Global Stimulus Fund in Singapore on November 4, 2009.
The Fund aims to provide long-term capital appreciation by investing in a diversified pool of exchange traded funds (“ETFs”) comprising the Global Stimulus Portfolio (“Portfolio”).
The selected ETFs represent sectors and/or markets that are expected to appreciate in the long-term, including as a result of economic policies of governments globally.
Following the financial crisis, governments around the world have introduced large fiscal stimulus packages to aid in the recovery of the global economy. These packages include tax cuts and investments in various sectors to encourage continued workforce employment and consumer spending.
The Global Stimulus Fund’s investors have the potential opportunity to participate in the global recovery story. Barclays Capital estimates that global growth approached 4% in Q3 2009 and forecasts 4%-plus growth to be sustained in Q4 2009 and Q1 2010. This would represent one of the fastest periods of sustained growth in the past two decades.
The Fund’s broad coverage of ETFs under various sectors will provide investors with diversified portfolio risk and the advantages of continuous liquidity and transparency in pricing.
Indicative initial weights of sectors and/ or markets in the Portfolio
China banks prepare to raise capital
November 24, 2009-China’s banks are preparing to raise tens of billions of dollars in additional capital to meet regulatory requirements following an unprecedented expansion of new loans this year, according to people familiar with the matter.
China’s 11 largest listed banks will have to raise at least Rmb300bn ($43bn) to meet more stringent capital adequacy requirements and maintain loan growth and business expansion, according to estimates from BNP Paribas.
China calls for stepped up climate cooperation with EU
November 24, 2009-China called on the European Union Tuesday to step up cooperation on climate change, saying global warming would be at the top of the agenda at next week's China-EU summit.
"Soon after the summit the international community will have the Copenhagen conference on climate change," Vice Foreign Minister Zhang Zhijun said, referring to the meeting in Denmark to agree a new UN pact on global warming.
"China and (the) EU should strengthen coordination and have closer cooperation on climate change because it serves the common interest of both sides and will help advance international efforts to tackle climate change."
China's Haitong Securities buys Hong Kong rival
November 23, 2009--Haitong Securities is set to become the first mainland brokerage to acquire an overseas rival after it agreed a deal to buy a controlling stake in Hong Kong’s Taifook Securities for HK$1.8bn (US$232m).
Mainland Chinese securities firms are keen to get a foothold in Hong Kong in preparation for the relaxing of rules that will allow investors north of the border to invest directly in the territory’s stock market.
Sebi may widen PMS scope
November 21, 2009--The Securities and Exchange Board of India (Sebi) is examining the possibility of allowing inclusion of currency and interest rate futures in portfolio management services (PMS).
:“We are looking at allowing exchange-traded derivatives to be part of PMS. However, no decision has been taken yet,” Sebi Executive Director RK Nair said
On the derivatives side, PMS are allowed to use only equity-related derivatives products such as stock futures for hedging their portfolios.
Hinting at further PMS reforms, Nair said PMS was not as tightly regulated as the mutual fund (MF) industry.
iShares S&P India Nifty 50 Index Fund Starts Trading Today
November 20, 2009-Barclays Global Investors, N.A. (BGI), the world's largest Exchange Traded Funds (ETFs) provider(1), announced today that the iShares S&P India Nifty 50 Index Fund (NASDAQ: INDY) began trading today.
The new iShares Fund is designed to track the S&P CNX Nifty Index that represents the 50 largest and most liquid Indian securities listed on the National Stock Exchange (NSE) of India. iShares offers investors the widest selection of emerging market ETFs with 18 regional and single country emerging market funds, including the iShares S&P India Nifty 50 Index Fund. As of October 31, 2009, 30% of iShares total net asset flows or US$9.8 Billion has gone into emerging market and single emerging countries.(2)
"We're pleased to provide investors with an iShares ETF that tracks one of the most investable and well-known India indexes. Demand for Indian equities continues to be strong as India has a differing set of companies and industries. In addition, the index, like other emerging market indexes, has a low correlation with U.S. equities, which offers the important added benefit of portfolio diversification," said Noel Archard, head of U.S. iShares Product Research and Development.
1) Source: Morgan Stanley Investment Strategies and Bloomberg as of 12/31/2008. Based on number of ETFs, AUM, and market share.
(2) Source: Bloomberg, FactSet and BGI.
New York Dow ETF to be Listed (Simplex Asset Management Co., Ltd.)
November 19, 2009--Today, Tokyo Stock Exchange, Inc. (TSE) approved the listing of the NY Dow ETF "Simple-X NY Dow Jones Index ETF", managed by Simplex Asset Management Co., Ltd.
The ETF is planned to be listed on Thursday, December 10, 2009. This is the first ETF linked to American stocks to be listed on markets in Japan. The "Dow Jones Industrial Average" to which the ETF is linked is comprised of 30 prominent American corporations, making it the representative index of the nation.
| Code | 1679 (ISIN JP3047110006) |
|---|---|
| Name | Simple-X NY Dow Jones Index ETF |
| Fund Administrator | Simplex Asset Management |
| Listing Date | December 10, 2009 |
| Trading Unit | 10 units |
| Underlying Index | Dow Jones Industrial Average |
With this listing there will be a total of 70 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. TSE will continue working to diversify the ETF market and improve the convenience of our market for all investors.
Societe Generale to launch China 50 ETF traced structured product
November 19, 2009--France-based Societe Generale is to roll out a structured investment product targeting the China 50 ETF, tapping into the renminbi-denominated A share market.
The derivative product, developed by Societe Generale in cooperation with its Chinese partner Everbright Securities, will focus on the more liquidised 50 ETF products in the mainland Chinese stock market to lure local investors.
iShares adds five A-share ETFs in Hong Kong
The products will provide access to the CSI 300 index and more focused exposure to four sectors, including energy, financials, infrastructure and materials.
November 19, 2009-- Today, on the fifth anniversary of the 2004 listing of the wildly popular iShares FTSE/ Xinhua A50 China Index ETF, iShares is launching five new A-share ETFs in Hong Kong.
The new listings include four sector-based A-share ETFs and one feeder fund that will give investors alternative exposure linked to the CSI 300 index. They are the iShares CSI 300 A-shares Index ETF, iShares CSI A-share Energy Index ETF, iShares CSI A-share Financials Index ETF, iShares CSI A-share Infrastructure Index ETF and iShares CSI A-share Materials Index ETF.
