Global ETF News Older than One Year
BlackRock New Report ETF Landscape Industry Highlights, End of October 2010
November 9, 2010--Below are the ETF Landscape industry highlights as at end October 2010.
United States ETF and ETP Industry end October 2010:
The United States ETF industry had 887 ETFs, assets of US$830.9 Bn, from 28 providers on two exchanges.
In October 2010, United States domiciled ETFs/ETPs experienced net inflows totalling US$13.2 Bn. Equity ETFs/ETPs saw US$10.3 Bn net inflows, of which US$7.5 Bn went into Emerging market equity ETFs/ETPs and US$2.2 Bn into North American equity ETFs/ETPs.
Fixed income ETFs/ETPs saw net inflows of US$1.9 Bn, of which US$1.1 Bn went into government bond ETFs/ETPs and US$0.3 Bn into high yield ETFs/ETPs. Commodity ETFs/ETPs experienced US$0.01 Bn net outflows, of which energy ETFs/ETPs saw net outflows of US$0.12 Bn, while US$0.13 Bn went into industrial metals ETFs/ETPs in October 2010.
In October 2010, United States domiciled ETFs experienced net inflows totalling US$11.8 Bn. Vanguard gathered the largest net inflows with US$5.2 Bn, followed by iShares with US$3.2 Bn net inflows, while ProShares saw US$0.6 Bn net outflows in October 2010.
YTD US$47.0 Bn NNA flows into United States domiciled equity ETFs/ETPs is greater than the US$36.5 Bn for all of 2009. NNA flows into emerging market equity ETFs/ETPs are US$27.0 Bn YTD, in line with the US$27.0 Bn in 2009 and North American ETFs/ETPs are greater at US$14.6 Bn YTD versus US$2.0 Bn in 2009. Fixed income ETF/ETP NNA is US$31.5 Bn YTD versus US$44.8 Bn for 2009 and NNA going into commodity ETFs/ETPs is down significantly from US$32.5 Bn in 2009 to US$8.9 Bn YTD.
Global ETF and ETP Industry end October 2010:
The global ETF industry had 2,409 ETFs with 5,335 listings, assets of US$1,239.0 Bn, from 130 providers on 46 exchanges around the world.
The global ETF and ETP industry combined had 3,404 products with 6,907 listings, assets of US$1,392.6 Bn from 160 providers on 50 exchanges around the world.
European ETF and ETP Industry end October 2010:
The European ETF industry had 1,048 ETFs with 3,512 listings, assets of US$274.1 Bn, from 37 providers on 22 exchanges.
In October 2010, net new assets into European domiciled ETFs/ETPs totalled US$7.9 Bn. Equity ETFs/ETPs gathered US$6.2 Bn net inflows, of which US$2.3 Bn went into emerging markets equity ETFs/ETPs and US$2.4 Bn into European equity ETFs/ETPs. Fixed income ETFs/ETPs saw net inflows of US$1.4 Bn, of which US$0.7 Bn went into money market ETFs/ETPs while government bond ETFs/ETPs saw net outflows of US$0.1 Bn. Commodity ETFs/ETPs saw net inflows of US$0.2 Bn, of which US$0.3 Bn went into broad commodity exposure ETFs/ETPs while energy ETFs/ETPs saw net outflows of US$0.1 Bn.
In October 2010, net new assets into European domiciled ETFs totalled US$7.9 Bn. iShares has received the largest net inflows with US$2.8 Bn, followed by db x-trackers with US$2.5 Bn net inflows, while Swiss & Global Asset Management had the largest net outflows with US$0.1 Bn.
Canada ETF and ETP Industry end October 2010:
The Canadian ETF industry had 154 ETFs, assets of US$35.7 Bn, from four providers on one exchange.
Asia Pacific ex-Japan ETF and ETP Industry end October 2010:
The Asia Pacific (ex-Japan) ETF industry had 188 ETFs with 293 listings, and assets of US$55.1 Bn from 56 providers on 13 exchanges.
Japan ETF and ETP Industry end October 2010:
The Japanese ETF industry had 77 ETFs with 80 listings and assets of US$30.5 Bn from six providers on two exchanges.
Latin America ETF and ETP Industry end October 2010:
The Latin American ETF industry had 26 ETFs with 353 listings, and assets of US$10.7 Bn from four providers on three exchanges.
Source: Global ETF Research & Implementation Strategy Team, BlackRock
Recent policy moves a start, but much stronger action is needed to accelerate the transformation of the global energy system, says the IEA’s latest World Energy Outlook
November 9, 2010--“The Copenhagen Accord and the agreement among G20 countries to phase out subsidies are important steps forward. But, these moves still fall a very long way short of what is required to set us on the path to a truly sustainable energy system”, said Nobuo Tanaka, Executive Director of the International Energy Agency today in London at the launch of the latest edition of the IEA’s annual World Energy Outlook (WEO).
“The energy world is facing unprecedented uncertainty”, Mr Tanaka said. The strength of the economic recovery holds the key to how energy markets will evolve over the next few years. But WEO-2010 demonstrates that it is what governments do, and how that action affects technology, the price of energy services and end-user behaviour, that will shape the future of energy in the longer term. “We need to use energy more efficiently and we need to wean ourselves off fossil fuels by adopting technologies that leave a much smaller carbon footprint”.
The central scenario in this year’s Outlook – the New Policies Scenario – takes account of the broad policy commitments and plans that have been announced by countries around the world. “We have taken governments at their word, in assuming that they will actually implement the policies and measures, albeit in a cautious manner, to ensure that the goals they have set are met” said Mr Tanaka. In that scenario, world primary energy demand increases by 36% between 2008 and 2035, or 1.2% per year on average. The assumed policies make a tangible difference to energy trends: demand grew by 2% per year over the previous 27-year period.
view WEO-2010 special early excerpt: Energy Poverty: How to make modern energy access universal
Source: International Energy Agency
Emerging countries become Eldorado for Spanish banks
November 8, 2010--Big Spanish banks are showing more interest in emerging countries like Turkey and Poland by acquiring or buying a stake in national banks.
According to Spanish daily El Pais on Monday, emerging countries are becoming Eldorados (golden countries) for Spanish banks, stating that Santander and Banco Bilbao Vizcaya Argentaria (BBVA) are looking for investments in emerging countries to compensate for the losses they have been experiencing at home.
Source: Todays Zaman
Composite Leading Indicators (CLIs), OECD, November 2010
November 8, 2010--OECD composite leading indicators (CLIs) for September 2010 point to diverging patterns of economic growth across major economies.
The CLIs show signs of continuing expansion in Germany, Japan, the United States and Russia, while pointing to a moderate downturn in Canada, France, India, Italy and the United Kingdom.
The CLIs for Brazil and China continue to point strongly downwards, edging below the long term trend and implying that the level of industrial production will fall below its longer-term trend in these two economies.
Source: OECD
Structural Breaks in Fiscal Performance: Did Fiscal Responsibility Laws Have Anything to Do with Them? IMF Working paper
November 8, 2010--In recent years, many countries have adopted Fiscal Responsibility Laws to strengthen fiscal
institutions and promote fiscal discipline in a credible, predictable and transparent manner. Still, results on the effectiveness of these laws remain tentative. In this paper, we test
empirically whether fiscal performance, measured as the level of primary fiscal balances and their volatility, indeed improved after the implementation of Fiscal Responsibility Laws in a
sample of Latin American and advanced economies.
We show that traditional econometric approaches, which rely on the use of dummies in time series or panel regressions, yield biased estimates. In contrast, our empirical strategy recognizes that, a priori, the timing of the effect of these laws on fiscal performance is unknown, while controlling for the impact of the business and commodity cycles on fiscal outcomes. Overall, we find limited empirical evidence in support of the view that Fiscal Responsibility Laws have had a distinguishable effect on fiscal performance. However, Fiscal Responsibility Laws could still have other positive effects on the conduct of fiscal policy not analyzed here, for instance, through enhanced transparency and guidance in the budget process and lower risk premia.
Source: IMF
Investors seek transparency in hedge funds
November 8, 2010--Transparency is the leading concern investors share about the publicity-shy $1,800bn global hedge fund industry, followed by fees and managers’ pay, a report shows.
After their worst year ever in 2008 and a painful 18 months of recovery and adaptation, hedge funds have yet to shake off their reputation for secrecy and cost, institutional investors will say in an industry survey due to be released by Ernst & Young on Tuesday.
Source: FT.com
Dow Jones Index Data Monthly Reports
November 5, 2010--The following Dow Jones Index Data Monthly Reports for OCtober 2010 are now available.
Index Data Monthly Report: Asia Pacific Edition
Index Data Monthly Report: MENA Edition
Index Data Monthly Report: Europe Edition
Index Data Monthly Report: Dow Jones-UBS Commodity Indexes
Index Data Monthly Report: Latin America Edition
Index Data Monthly Report: U.S. Edition
Index Data Monthly Report: Dow Jones Brookfield Infrastructure Indexes
Source: Dow Jones Indexes
BlackRock * New Report * ETF Landscape Industry Review, End Q3 2010
November 5, 2010--This report provides an overview of the Exchange Traded Funds (ETFs) and Exchange Traded Products (ETPs) industry through the end of Q3 2010.
At the end of Q3 2010 the global ETF industry had 2,379 ETFs with 5,204 listings, assets of US$1,181.3 Bn from 129 providers on 45 exchanges around the world.
Additionally, there were 878 other Exchange Traded Products (ETPs) with 1,445 listings and assets of US$146.9 Bn from 49 providers on 20 exchanges.
Combined, there were 3,257 products with 6,649 listings, assets of US$1,328.2 Bn from 158 providers on 48 exchanges around the world at the end of Q3 2010.
Source: Global ETF Research & Implementation Strategy Team, BlackRock
US and United Kingdom Lead Financial Development Index Despite Weaknesses; Risks in Emerging Markets Highlighted
The US and United Kingdom manage to hold top spots ahead of Asian financial centres Hong Kong and Singapore
Developing countries continue to show financial stability, but other risks could jeopardize economic growth
Global economic growth continues to rely disproportionately on emerging markets
Report analyses 57 financial systems and capital markets around the world
November 4, 2010--The United States and the United Kingdom managed to take the top spots despite stagnant or weakening scores in the World Economic Forum’s third annual Financial Development Report released today. Weak scores in financial stability for both countries appeared to impact the United Kingdom more with an appreciable decline in its overall score and a drop from the top spot in last year’s rankings. Their rankings were supported by greater relative declines in other countries’ scores.
The scores for Asian financial centres Hong Kong and Singapore advanced to close their distance from the two leaders: both improved slightly, earning them 3rd and 4th place respectively. They had high marks for their robust institutional and business environments and a high degree of financial system stability.
Australia dropped to 5th place, pulled down by declining non-banking financial services activity (such as IPOs and M&As) and a less favourable business environment. Canada maintained 6th place in the rankings. There was some movement of the smaller European economies as the Netherlands and Switzerland switched places from last year to come in at 7th and 8th respectively and Belgium supplanted Denmark at 10th. Japan maintained 9th place based on solid performance across its financial intermediaries and markets.
“While the US and United Kingdom top the rankings due to their deep and active wholesale markets, several ominous signs point to their leadership being in jeopardy. Aside from very low scores in financial stability, both showed weakness in their business environments, in particular their tax regimes, as well as the efficiency of their banks,” said Kevin Steinberg, Chief Operating Officer of the World Economic Forum USA.
view the Financial Development Report 2010
Source: World Economic Forum (WEF)
Economy: Rising tensions could degenerate into protectionism, warns OECD-UNCTAD report
November 4, 2010--G20 leaders must remain vigilant against the risk that tensions over current account imbalances could slow investment or degenerate into a protectionist spiral, according to the OECD and UNCTAD.
In their fourth report to the G20, the organisations find that most new investment measures taken from mid-May to mid-October by governments were aimed at facilitating and encouraging investment flows.
However, some countries have recently put in place capital controls and regulations to buffer their economies from foreign exchange volatility and capital flows. While such measures may serve legitimate purposes under exceptional circumstances, they could lead to a fragmentation of international capital markets along national lines, and may be difficult to dismantle once in place, says the report.
“Foreign exchange intervention is not the most helpful instrument for macro-economic management,” OECD Secretary-General Angel Gurría said. “It can prompt countervailing intervention and may trigger new protectionist responses.”
Besides steering clear of further intervention in currency markets, governments must also wind down emergency schemes as quickly as is prudent. Exit strategies should be transparent and accountable. While 12 G20 countries implemented emergency programmes for the financial sector, India is the only country to date that has fully dismantled them and retains no related assets or government guarantees.
view the Fourth Report on G20 Investment Measures
Source: OECD
