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Chinese ETFs tracking new CSI 2000 index underperform in IPOs
October 2, 2023--In a recent development, eight Chinese Exchange-Traded Funds (ETFs) tracking the newly launched CSI 2000 index have shown disappointing performance. Despite the anticipation that the index would stimulate domestic equities, these ETFs managed to raise an average of RMB574 million ($78.5 million) each in their initial public offerings (IPOs), falling short of the RMB668 million September average for all ETFs.
Leading the pack were China Universal Asset Management, E Fund, and Guotai Asset Management with RMB1.2 billion, RMB812 million, and RMB600 million, respectively. However, Huatai-PineBridge, Harvest Fund Management, and GF Fund Management lagged behind. Other underperformers included China Asset Management, China Southern Fund Management, and Fullgoal Asset Management.
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Source: investing.com
East Asia and Pacific: Sustained Growth, Momentum Slowing
October 1, 2023--Improving external conditions to benefit region in 2024
Growth in developing East Asia and Pacific is projected to remain strong at 5% in 2023 but will ease in the second half of 2023 and is forecast to be 4.5% during 2024, the World Bank said on Sunday in its semi-annual economic outlook for the region.
According to the World Bank's East Asia and Pacific October 2023 Economic Update, regional growth this year is higher than average growth projected for all other emerging market and developing economies but lower than previously projected. Growth in China in 2023 is projected to be 5.1% and in the region excluding China to be 4.6%. Growth among Pacific Island Countries is expected to be 5.2%.
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Source: worldbank.org
Indxx Licenses Cybersecurity Index to Global X ETFs Australia for an Exchange Traded Fund
September 13, 2023--Indxx is pleased to announce the licensing of their Indxx Cybersecurity Index to Global X ETFs Australia as the underlying benchmark for the Global X Cybersecurity ETF (Ticker: BUGG) which began trading today on the Australian Securities Exchange (ASX).
This marks the fifth product tracking the index, with the other funds listed in the United States, Europe, Canada, and South Korea.
The Indxx Cybersecurity Index seeks to provide exposure to companies involved in the development and management of security protocols preventing intrusion and attacks to systems, networks, applications, computers, and mobile devices. The theme comprises of companies in some, but not limited to these industries: Packaged Software, Aerospace & Defense, Wireless Communications, Computer Communications and Information Technology Services.
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Source: Indxx
Taiwan to crack down on payout mechanism for high-dividend ETFs
September 12, 2023--New investors' money is often used to boost dividends that would otherwise be diluted by huge inflows
Taiwan's Financial Supervisory Commission has announced plans to crack down on exchange traded funds' use of so-called earnings equalisation mechanisms that are used to shore up existing investors’ dividends.
Such ETFs set aside a portion of invested funds, often from newer subscribers, to mitigate the dilution of the percentage paid out in dividends due to existing investors in the ETF. The regulator instead wants to ensure that such payouts should largely come from "dividends and bond yield".
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Source: ft.com
China attracts record ETF flows even as US and Europeans pull out
September 12, 2023--Stimulus measures appear to have prompted a surge that accounts for nearly a third of August global ETF investment
A push by Beijing to pump money into Chinese equity markets appears to have prompted a surge in investment resulting in China accounting for almost a third of global exchange traded fund flows in August.
China-focused equity ETFs saw record net inflows of $20.6bn in August, two-and-a-half times the level in July, according to data from BlackRock, dwarfing the $11.1bn pulled in by ETFs focused on US equities. The money that poured in all came from Asia Pacific-listed funds including China, with US and European investors actually pulling money out.
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Source: ft.com
IMF Staff Completes 2023 Article IV Mission to Republic of Korea
September 6, 2023--With a gradual strengthening in 2023H2, growth is projected at 1.4 percent in 2023. Trend inflation is projected to continue to moderate toward the authorities' target.
Near-term fiscal and monetary policies should stay the course and remain restrictive, limiting the increase in public debt and continuing to address inflation.
Proactive measures have helped address stress in financial markets. Continued efforts are needed to contain financial vulnerabilities related to the real estate market and high household debt.
Structural reforms are needed to raise medium-term growth and address fiscal challenges from population aging.
"Like many other advanced economies, Korea has faced inflation challenges and a sharp growth slowdown. Headline inflation has declined significantly after peaking in mid-2022, though core inflation has remained stickier. Pockets of financial sector vulnerability emerged amid the housing market downturn and rising interest rates, and financial risks have increased but appear to remain manageable.
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Source: imf.org
China fast-tracks approval of large batch of ETFs
September 4, 2023--Move coincides with flurry of measures aimed at stimulating stock market
China's securities regulator approved 17 exchange traded funds on a single day as part of a speeded-up process that resulted in three dozen public funds being authorised for sale.
The ETFs, which were part of the unusually large number of approvals on Friday last week, will invest in small-cap stocks and technology start-ups, according to regulatory filings posted on the China Securities Regulatory Commission website.
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Source: ft.com
ETFGI reports assets invested in the ETFs industry in Asia Pacific (ex-Japan) reached a record of US$705 billion at the end of July
August 30, 2023--ETFGI, a leading independent research and consultancy firm covering trends in the global ETFs ecosystem, reported today that assets invested in the ETFs industry in Asia Pacific (ex-Japan) reached a record of US$705 billion at the end of July.
The ETFs industry in Asia Pacific (ex-Japan) gathered net inflows of US$13.84 billion during July, bringing year-to-date net inflows to US$70.24 billion. Assets have increased by 21.9% YTD in 2023, going from US$578.72 Bn at end of 2022 to US$705.51 Bn., according to ETFGI's July 2023 Asia Pacific (ex-Japan) ETFs and ETPs industry landscape insights report, the monthly report which is part of an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)
Highlights
Assets invested in the ETFs industry in Asia Pacific (ex Japan) reached a record of $705.51 Bn at the end of July beating the previous record of $647.40 Bn at the end of June 2023.
Assets have increased by 21.9% YTD in 2023, going from $578.72 Bn at end of 2022 to $705.51 Bn.
Net inflows of $13.84 Bn during July.
YTD net inflows of $70.24 Bn are the second highest, behind the $72.63 Bn in YTD net inflows in 2022.
25th month of consecutive net inflows.
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Source: ETFGI
IMF Executive Board Concludes 2023 Article IV Consultation with Singapore
August 29, 2023--Singapore's post-pandemic recovery is nearly complete. Strong economic fundamentals and the authorities' decisive policy responses, including an unprecedented policy stimulus, supported a rapid recovery from the COVID-19 shock.
Following a sharp rebound of 8.9 percent in 2021, real GDP growth moderated to 3.6 percent in 2022, and weakened further to 0.4 percent (year on year) in 2023Q1, reflecting weaker global demand.
Despite the solid post-pandemic recovery, consumer-facing services (except the retail sector) and construction, the hardest hit sectors during pandemic, remained below pre-pandemic levels. Inflation remained elevated and broad-based at about 5.7 percent in April 2023, despite recent signs of moderation. Inflation expectations, however, remain well-anchored.
Macro policies are appropriately tight to moderate price pressures in 2023.
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Source: imf.org
Nomura AM to launch Japan's first active ETFs
August 29, 2023--The products will be subject to daily disclosures and inverse active funds are not permitted
Nomura Asset Management has been granted approval by the Tokyo Stock Exchange to list the first two actively managed exchange traded funds in Japan.
The Next Funds Japan Growth Equity Active Exchange Traded Fund and the Next Funds Japan High Dividend Equity Active Exchange Traded Fund are scheduled to start trading on the Tokyo bourse on September 7.
A minimum investment of around ¥2,000 per unit ($13.68) will be required for the two ETFs, which will apply respective annual management fees of 0.6875 per cent and 0.5225 per cent.
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Source: ft.com
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