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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.
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Source: FT.com
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.
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Source: Business Standard
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.
SOURCE: Barclays Global Investors
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.
Source: Tokyo Stock Exchange
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.
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Source: ETF Express
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.
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Source: Asian Investor
S&P quits Australian retail market
November 18, 2009--Ratings agency Standard & Poor's (S&P) has announced it will quit the Australian retail market, limiting its advice to wholesale investors after Australia's corporate watchdog said it would make ratings agencies more accountable for the advice they give.
While announcing it had withdrawn its application for a retail Australian Financial Service Licence (AFSL), S&P said it would apply for a wholesale license, under the terms of the new regulatory framework being introduced by the Australian Securities and Investments Commission (ASIC).
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Source: FT.com
DB Index Research -- Weekly ETF Reports -- Asia-Pacific
November 17, 2009--Highlights
Market Overview
There are 190 equity based ETFs in the Asia Pacific region with 249 listings across 12 countries and 15 exchanges. Japan has the largest market share by AUM accounting for 39.83% of the whole market, whilst China has the largest market share by turnover with 47.06%.
There were no new listings in the last week.
Turnover
Monthly average daily turnover remained at about the same level in the last week. Turnover for the previous week was USD 1022m. The largest ETF by turnover was the China 50 ETF issued by China Asset Management with USD 272m accounting for 26.6% of total turnover.
Assets Under Management
AUM remained at about the same level in the previous week. AUM as of Nov 16th were USD 61.1bn. The largest ETF by AUM is the iShares Asia Trust - iShares FTSE/Xinhua A50 China Tracker, managed by BGI, with AUM of USD 6.7bn.
To request a copy of the report click here
Source: Aram Flores and Shan Lan -DB Index Research
First A-share Industry Sector ETFs to Debut on HKEx
November 17, 2009--Hong Kong's Exchange Traded Fund (ETF) market further expands with a series of five Mainland A-share industry sector ETFs setting to debut on Wednesday, 18 November on the Stock Exchange of Hong Kong Limited (the Exchange), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx).
The new Mainland A-share index ETFs are:
|
Stock Code |
Name of ETF |
Benchmark index |
|
2846 |
iShares |
|
|
3050 |
iShares |
|
|
3039 |
iShares |
|
|
2829 |
iShares |
|
|
3006 |
iShares |
|
With the listing of these five new ETFs, there will be a total of eight ETFs on Mainland A-share indices listed on the Exchange, and HKEx will be the first exchange with Mainland A-share industry sector ETFs.
All ETFs listed on the Exchange, including these five new iShares listings, are designated for market making and for short selling with tick rule exemption. The market makers for these five ETFs are Citigroup Global Markets Asia Limited, Credit Suisse Securities (Hong Kong) Limited and UBS Securities Hong Kong Limited.
On 18 November, the Exchange will have listed 42 ETFs. There are eight ETFs on Mainland A-share indices, seven on Hong Kong equity indices, 22 on other regional and international equity indices, two on commodities and three on bonds and money markets.
The three other Mainland A-share index ETFs are:
|
Stock Code |
Name of ETF |
Benchmark index |
|
2823 |
iShares FTSE/Xinhua A50 China Index ETF |
FTSE/Xinhua |
|
2827 |
W.I.S.E. - |
|
|
3024 |
W.I.S.E. - SSE50 China Tracker |
SSE50 Index |
Investors should note that all A-share ETFs use derivative instruments to synthetically replicate the performance of the underlying benchmarks. These ETFs are subject to counterparty risk of the derivative instruments' issuers and may suffer losses if such issuers default or fail to honour their contractual commitments. For a better understanding of the risks involved, investors are advised to read the ETFs' prospectuses in full prior to making any investment decisions. Information on the various risks of ETFs and their structures is available on the HKEx website.
Source: Hong Kong Exchange (HKE)
More Real-time Derivatives Market Data Now Available to Investors
November 17, 2009--Hong Kong Exchanges and Clearing Limited (HKEx) has enriched the content of the Price Reporting System (PRS), the system HKEx uses to transmit real-time derivatives market data to end-users through authorised information vendors.
The enriched content was released for use on 31 October this year and operations ran smoothly throughout the two-week stabilisation period which ended last Saturday (14 November).
The main objective of the change was to enhance the transparency of HKEx's derivatives market by enriching the content of the PRS. The newly added content includes the following:
Information on standard combination series available for trading on the derivatives market - the PRS now provides the best five quotations on both the buy and sell sides of standard combination series, which are usually actively traded for position rollover before the expiry day;
Accumulated contract volume of block trades for each series;
Market status - indicates status of a market during a trading day (such as market open and market closed);
Product status - indicates where status of trading in a particular product has changed (for example, from "suspended" to "resumed");
High priority market messages - HKEx can now use the PRS to disseminate important market messages to investors through information vendors; and
Other new content, including the opening price (the price of the first trade of the current trading day) and net open interest for each series on the current trading day.
Information services provided by different information vendors may vary and not all information vendors at present have included the new content in their services. Exchange Participants and investors interested in the added content may contact their information vendors directly for further details.
HKEx will continue to review its information systems from time to time and upgrade its information services to meet changing market needs.
Source: Hong Kong Exchange (HKE)
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