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CSOP AM ETF aims to profit from shift away from China factories
June 11, 2023--The fund will focus on India and south-east Asian retail as well as technology, cars and component producers
CSOP Asset Management is gearing up to launch what it claims will be Singapore's first exchange traded fund focusing on the technology industry across south-east Asia and India.
The fund firm is aiming to raise up to $30mn by June 20, when the ETF will officially list on the Singapore bourse, with a longer-term goal of hitting $100mn in assets within the first year.
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Source: ft.com
IMF Working Paper-Some Lessons from Asian E-Money Schemes for the Adoption of Central Bank Digital Currency
June 9, 2023--Summary:
This paper synthesizes four lessons from the experiences of six Asian e-money schemes for central banks as they consider adopting central bank digital currency (CBDC): (i) CBDC should embody four attributes: trust, convenience, efficiency, and security; (ii) CBDC service providers can facilitate CBDC adoption through four channels: leveraging digital technology, targeting use cases, developing business models, and complying with legal and regulatory requirements;
(iii) central banks could incentivize CBDC service providers to develop these four channels when considering CBDC adoption; and (iv) central banks may be able to establish data-sharing arrangements that preserve privacy while leaving room for CBDC service providers to explore the economic value of data.
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Source: imf.org
IMF-Malaysia: 2023 Article IV Consultation-Press Release and Staff Report
June 1, 2023-Summary:
Malaysia registered a strong economic recovery in 2022, backed by its well diversified economy, sound policy frameworks, and commodity exporter status. While monetary policy started a gradual post-pandemic normalization, record costly spending on fuel subsidies broadly kept inflationary pressures suppressed in 2022.
Meanwhile, the new national unity government has signaled its commitment to the reform priorities outlined in the Twelfth Malaysia Plan (12MP) and the 2023 Budget to propel the economy toward net-zero greenhouse gas emissions and high-income status.
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Source: imf.org
IMF-People's Republic of China-Hong Kong Special Administrative Region: 2023 Article IV Consultation Discussions-Press Release; and Staff Report
May 31, 2023--Summary:
After coping with another year of large COVID-related disruptions, economic activity is normalizing with the re-opening of the border, including with Mainland China.
Strong fiscal policy support has helped the economy navigate through multiple shocks over the last few years, while strong institutional frameworks and financial buffers have allowed the financial system to remain resilient and continue to operate smoothly, including the Linked Exchange Rate System. The economy is facing macro-financial challenges amid rising interest rates, spillovers from strains in Mainland China's real estate sector, adjustment in the local property market, and global economic slowdown.
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Source: imf.org
Betashares Launches Global Shares ETF and Currency Hedged Version Tracking Solactive GBS Developed Markets ex Australia Large & Mid Cap Index
May 26, 2023--In the face of market volatility, investors often turn to portfolio diversification as a key strategy. One effective approach to manage volatility is to diversify exposure across various developed markets, which generally provide higher exposure to more advanced industries, lower risks of political or economic instability, as well as greater accounting reliability.
In this context, Solactive is pleased to announce that leading Australian fund manager, Betashares, has expanded its engagement with the German index provider by choosing the Solactive GBS Developed Markets ex Australia Large & Mid Cap Index (plus AUD hedged version) as the benchmark for their new ETFs- Betashares Global Shares ETF and Betashares Global Shares Currency Hedged ETF. These products are designed to be suitable as core allocations to global equities in a well-constructed -investment portfolio. The currency hedged version specifically caters to those seeking to minimize the impact of currency fluctuations on investment returns.
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Source: Solactive AG
Betashares Australian ETF Review April 2023: Investor flows push industry to a new high, even as markets decline
May 15, 2023--The strong rise in global sharemarkets together with continued investor flows allowed the Australian ETF industry to once again set a new all-time high in funds under management (FuM).
Exchanged Traded Funds Market cap
Australian Exchange Traded Funds Market Cap(ASX + CBOE): $146.0B-new all time high
ASX CHESS Market Cap: $131.0B1
Market cap increase for month: 2.4%, $3.4B
Market cap growth for last 12 months: 9.4%, $12.5B
Comment: The Australian ETF Industry's FuM grew by 2.0% month-on-month, for a total monthly market cap increase of $2.8B. Industry funds under management ended the month at $142.6B, a new record high.
New money
Net inflows for month: +$0.8B
Comment: The growth this month came primarily from asset value appreciation, although investor flows remained positive, at $0.7B (25% of the monthly growth).
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Source: betashares.com.au
Asia Poised to Drive Global Economic Growth, Boosted by China's Reopening
May 1, 2023--China and India together are forecast to generate about half of global growth this year
70 percent of global growth this year-a much greater share than in recent years.
Asia and the Pacific is a relative bright spot amid the more somber context of the global economy's rocky recovery.
As the Chart of the Week shows, the region will contribute about Our latest Regional Economic Outlook describes the resilience of the world's most dynamic region and important challenges facing its policymakers.
Growth in Asia and the Pacific is forecast to accelerate to 4.6 percent this year from 3.8 percent last year.
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Source: imf.org
Investors weigh up best ETFs to profit from China's reopening
April 24, 2023--Funds listed in Hong Kong, mainland China, US and Europe can offer exposure to economic recovery
When Chinese tech giant Alibaba announced it was splitting into six companies, trading of the KraneShares CSI China Internet ETF shot through the roof.
More than $1bn-worth of stakes in the fund changed hands on hopes that Alibaba’s move signalled a longer-term easing of Beijing's regulatory crackdown on the sector.
But the fund itself only saw inflows of about $25mn that day, reflecting a broader issue for China-focused ETFs this year: even as most investors agree that China's economic recovery still has some steam left, many are hesitant to take the plunge.
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Source: ft.com
IMF Working Paper-Unleashing India's Growth Potential
April 21, 2023--Summary:
This paper analyzes the drivers of India's growth in the past five decades and considers baseline and upside scenarios of India's medium-term potential growth.
Using a production function approach, the paper assesses the impact of the pandemic on the key factors of production and therefore its impact on medium-term growth. Successful implementation of wide-ranging structural reforms could help support productivity and potential growth over the medium term.
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Source: IMF.org
Asia Likely to See Dynamic Economic Growth, but With Policy Challenges
April 13, 2023--Region would contribute about 70 percent to global growth this year-but still faces challenges from inflation, debt, and financial vulnerabilities<>br>Asia and the Pacific remains a dynamic region despite the somber backdrop of what looks to be shaping up as a challenging year for the world economy.
Global growth is poised to decelerate as rising interest rates and Russia's war in Ukraine weigh on activity. Inflation remains stubbornly high, and banking strains in the United States and Europe have injected greater uncertainty into an already complex economic landscape.
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Source: imf.org