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Avenir Group Becomes Top Institutional Holder of Two Major Bitcoin ETFs in Asia Bitcoin ETF Holdings Totaled US$384 Million in Q2
August 20, 2024-Avenir Group, a global institutional family office focused on mult-strategy investment trading powered by financial technology (FinTech), has become the largest institutional holder of two major Bitcoin exchange traded-funds (ETFs) in Asia in the second quarter (Q2) of 2024.
According to its 13-F filing with the U.S. Securities and Exchange Commission (SEC) on 2 August this year, Avenir Group's cumulative investment in two Bitcoin ETFs amounted to approximately US$384 million, demonstrating its extensive and dedicated investment in emerging technologies, as well as its expertise and strong deployment in the crypto asset space.
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Source: zawya.com
Australia's failed blockchain project for capital markets infrastructure
August 20, 2024--A world-leading bid effort to use blockchain technology to upgrade key capital markets infrastructure ended when ASX Ltd (the Australian Stock Exchange) paused the project and wrote off costs of AUD 250 million ($169m). On 14 August the Australian Securities and Investments Commission (ASIC) watchdog announced it was suing the ASX for "allegedly making misleading statements".
The ASX had announced the blockchain project to replace the Clearing House Electronic Subregister System (CHESS), which manages shareholdings and settlement, according to this report in The Block website. CHESS is a clearing and settlement system for the cash equities market.
According to an ASIC press release: "ASIC alleges statements made in ASX announcements on 10 February 2022 that the project remained 'on-track for go-live' in April 2023 and was 'progressing well' were misleading."
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Source: allafrica.com
Dimensional Extends ETF Suite in Australia
August 19, 2024--Global asset manager Dimensional Fund Advisors, the world's largest issuer of actively managed exchange traded funds (ETFs), today extended its suite of equity ETFs on the Australian Securities Exchange (ASX) to support financial professionals seeking to access the firm's systematic approach.
Following its initial launch last November of three actively managed core equity strategies in ETF form, Dimensional has now supplemented that offering with three component funds explicitly targeting long-term premiums available from Australian and global value stocks, as well as global small caps.
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Source: dimensional.com
5 undervalued qualities of the Indian financial system
August 18, 2024--The timing is sound. India is celebrating its 78th Independence Day at present. Everybody is aware of the story: it's the world's most populous nation, one of many fastest-growing economies, the third-largest by gross home product in buying energy parity phrases, and a touted beneficiary of "China Plus One" provide chain diversification.
The optimistic imaginative and prescient of India as an rising financial rival to the US, EU and China has, nevertheless, been held for some time. There have been many false dawns. However, in line with the festive second, and in my common format of in search of alt-narratives, I sought out some information factors that put India's financial potential in a unique gentle.
5 undervalued qualities of the Indian financial system
1. An rising companies energy
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Source: manhwastock.com
MSCI removes China Tourism, 59 more Chinese stocks as global investors turn to India
August 13, 2024--Other big names to be ejected from the MSCI indices include Beiqi Foton Motor, Ganfeng Lithium Group and GF Securities
Global index compiler MSCI will remove 60 Chinese stocks from its gauges in its latest quarterly review, the third straight cull this year, reflecting the waning significance of the nation's equities in overseas investors' portfolios.
Fifty-six companies trading on China's onshore exchanges and four in Hong Kong will be removed from the MSCI China Index at the end of August, MSCI said in a statement on Monday.
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Source: scmp.com
Chinese gold ETF holdings up 92% since 2023
August 10, 2024--Chinese gold exchange-traded funds (ETFs) have experienced a surge, with holdings increasing by 92% since the beginning of 2023, according to Wells Fargo.
The bank said the surge in gold ETF investments reflects robust demand from Chinese investors seeking safety amid economic uncertainties.
Wells Fargo highlights that "Asian gold exchange-traded funds' (ETFs) holdings have grown 56% since January 2023," with 92% growth in China specifically.
This surge in gold holdings has coincided with a 23% return on gold over the same period. Furthermore, the substantial increase in Chinese gold ETF holdings is said to underscore a broader shift toward safe-haven assets as investors navigate economic challenges.
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Source: investing.com
China Investors Pile Into Saudi ETFs as Two Nations Grow Closer
July 28, 2024--Both ETFs trade at sizable premiums to their net asset values
Saudi ETFs have competitive advantage in yields: Guotai Junan
Chinese investors are pouring money into two new exchange-traded funds tracking Saudi Arabian shares as the dismal performance of local equities supercharges demand for overseas assets.
The Saudi-focused ETFs enjoyed a bumper start when they debuted in Shanghai and Shenzhen on July 16 with both jumping by the daily 10% limit on their first two trading days. They were then suspended
for part of July 18 after their managers notified the exchanges that the premiumm of their share price over their net asset value had become excessive.
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Source: bloomberg.com
China's Third Plenum all about muddling through
July 22, 2024--Third Plenum announced reform measures that were either already underway or vexingly vague in detail at a crucial juncture for the economy
Four days of highly anticipated high-level Third Plenum meetings (from July 15 to 18) among Chinese Communist Party leaders ended with a perplexingly vague readout.
Indeed, the anticipated meeting's July 19 press conference failed to assuage China watchers' general impression of a non-event, even if some 300 reforms were touted by the official Chinese media, most of which were already underway.
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Source: asiatimes.com
WTO-Trade Policy Review: China
July 19, 2024--SUMMARY
1. During the review period, China remained an important driving force for global economic
growth. The economy recovered well from pandemic-related shocks, and China's exports and
imports continued to increase
The growth of trade in intermediate goods strongly outpaced the
growth of merchandise trade in general, indicating China's further integration into international
supply chains. However, the structural change it had previously embarked upon-away from
industry and towards services-came to a halt.
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Source: WTO (World Trade Organization)
Tech-focused ETFs Take Spotlight after Mainland China-Hong Kong ETF Connect Expansion
July 18, 2024--On July 12th, it was announced that 91 additional ETFs will be added to the Mainland China-Hong Kong ETF Connect Program, which will take effect on July 22nd. This expansion brings the total number of ETFs in the program to 241, with 19 of them being managed by E Fund Management ("E Fund"), the largest fund manager in China.
In meantime, a significant increase in foreign investors' demand for tech investment opportunities was observed, with the electronics sector being the most popular-the northbound fund inflows into the sector reached US$1.58 billion in the second quarter.
After the expansion, offshore investors with interests in tech innovation can leverage enriched investment tools- more than 20 thematic ETFs, including three from E Fund, namely E Fund CSI Artificial Intelligence Thematic ETF (Code: 159819), E Fund CSI Cloud Computing & Big Data Index ETF (Code:516510), and E Fund CSI Technology 50 Index ETF (Code:159807).
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Source: E Fund Management
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