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Asset Growth, Investor Positioning and China Market Turmoil

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Deutsche Bank - Synthetic Equity & Index Strategy - Asia Asia-Pac Monthly ETF Insights - Asset Growth, Investor Positioning and China Market Turmoil

Deutsche Bank – Synthetic Equity & Index Strategy – Asia Asia-Pac Monthly ETF Insights – Asset Growth, Investor Positioning and China Market Turmoil

Data in this report is as of 31st July 2015

Global ETP assets on track to pass $3 trillion mark soon

Global ETP assets stand at $2.94 trillion at the end of July, on track to reach $3 trillion mark. In our “ETF Annual Review & Outlook” published at the beginning of the year, we projected the industry to pass $3 trillion milestone in 2015, reaching $3.2tn at the year end in our base case scenario. It took the industry 19 years to reach the first trillion dollar, but 4 years to hit the second trillion dollar mark, and may take only 2 years to pass the third trillion dollar mark. On a YTD basis, global ETP market is up by $222bn or 8.2%. Asia-Pac listed ETP assets closed the month at just under $240bn with 18.6% YTD gain, highest among all the regions, driven by record monthly inflow to ETFs listed in China.

Global investor positioning: prefer DM, Europe and Japan, shy away from EM

We see clear trend from recent ETF flow that investors favor DM, especially Europe and Japan, while bearish across the board in EM. Based on ETFs listed offshore, global investors put over +$800mn into Japan focused ETFs over the last month. Almost all EM Asia countries saw redemptions: China, Taiwan and India focused ETFs recording -$448mn, -$189mn and -$127mn outflows.

These trends are likely to continue in the near term. The growth momentum is robust in Europe, while EM countries will continue to be under pressure as the Fed may hike rates as soon as in September. In addition, on Aug 11, China depreciated the fixing rate of RMB by 2% against USD, which may cause further outflows to Asian EM countries. India has attracted $3.4 bn inflow in 2015 YTD, while we saw the first monthly outflow in July. It is worthwhile to watch if this is the beginning of a new trend.

Insights on recent China market turmoil viewing from ETF angle

In July, activities related to China focused ETFs elevated amid volatile equity markets. ETFs listed in China (onshore) saw +$7.6bn inflow driven by government purchases. The monthly trading volume registered by onshore China ETFs stood at.$150bn and $125bn for June and July respectively vs. the $90bn YTD monthly average and 2014 average of $25bn in 2014. Volume in US listed leveraged/short China ETFs increased dramatically indicating investors use these tools to profit from the volatile market. Inflows to inversed ETFs reveal investors are bearish about the market. Among offshore China ETFs, we have seen continuous inflows to the H-share ETFs vs outflows to the A-share ETFs. This trend is likely to continue as we see over 20% upside potential this year in H-shares, predicted by our China strategy team.

China ETFs provided liquidity and acted as price discovery tool during the period of large number of stock suspensions (at the peak about 50% of the stocks in China suspended). Another recent example is GREK, an ETF tracking Greece continued to trade in the US during the closure of Greece market.

Product launches – Leveraged/short, China sectors & currency hedged

13 products were launched in Asia-Pacific, and 3 new APAC focused ETFs in the US and 1 APAC focused ETFs in Europe. The main themes of the new product launches include leveraged/short, China/sectors, and currency-hedged ETFs.

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A slice of Bitcoin gives a big portfolio boost

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Many investors wonder: If I add Bitcoin to my portfolio, what difference will it make? To answer these questions, we analyzed data to see how even a small Bitcoin allocation can impact your overall investment returns and risk.

Many investors wonder: If I add Bitcoin to my portfolio, what difference will it make? To answer these questions, we analyzed data to see how even a small Bitcoin allocation can impact your overall investment returns and risk.

It’s Crypto Week. Keep an eye on these bills

This week, the US House of Representatives will host “Crypto Week,” a focused effort to create clearer rules for digital assets. If these new laws pass, they could help investors feel more confident about entering the crypto market. The historic Crypto Week will likely benefit crypto lending projects like Aave, which has recently exceeded $45 billion in total value locked. Take a closer look at what’s on Congress’s agenda and why it matters for the future of crypto.

Turning stocks into tokens? Why it’s cool, but complicated

Crypto keeps evolving, and one clear use case is tokenization, turning real-world assets like property, investment funds, or stocks into digital tokens on the blockchain. Tokenized stocks are grabbing headlines right now as they let you trade company shares anytime, anywhere, making investing easier and faster. But it’s still early days, and there are challenges ahead. Explore how stock tokenization works and what’s holding it back.

Research Newsletter

Each week the 21Shares Research team will publish our data-driven insights into the crypto asset world through this newsletter. Please direct any comments, questions, and words of feedback to research@21shares.com

Disclaimer

The information provided does not constitute a prospectus or other offering material and does not contain or constitute an offer to sell or a solicitation of any offer to buy securities in any jurisdiction. Some of the information published herein may contain forward-looking statements. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those in the forward-looking statements as a result of various factors. The information contained herein may not be considered as economic, legal, tax or other advice and users are cautioned to base investment decisions or other decisions solely on the content hereof.

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LYOR ETF är en aktiv satsning på ”over night lån”

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Lyxor Smart Overnight Return UCITS ETF C-EUR (LYOR ETF) med ISIN LU1190417599, är en aktivt förvaltad börshandlad fond. Denna ETF strävar efter att uppnå kortsiktig avkastning med låg volatilitet genom att investera i en portfölj av finansiella instrument och återköpsavtal.

Lyxor Smart Overnight Return UCITS ETF C-EUR (LYOR ETF) med ISIN LU1190417599, är en aktivt förvaltad börshandlad fond. Denna ETF strävar efter att uppnå kortsiktig avkastning med låg volatilitet genom att investera i en portfölj av finansiella instrument och återköpsavtal.

Den börshandlade fondens TER (total cost ratio) uppgår till 0,10 % p.a. Lyxor Smart Overnight Return UCITS ETF C-EUR är den billigaste och största ETF som följer Lyxor Smart Overnight Return-index. ETFen replikerar resultatet för det underliggande indexet syntetiskt med en swap.

Lyxor Smart Overnight Return UCITS ETF C-EUR är en mycket stor ETF med tillgångar på 1 565 miljoner GBP under förvaltning. Denna ETF lanserades den 2 mars 2015 och har sin hemvist i Luxemburg.

Investeringsmål

Lyxor Smart Overnight Return – UCITS ETF C-EUR är en UCITS-kompatibel börshandlad fond som syftar till att uppnå kortsiktig avkastning högre än Euro Short-Term Rate (€STR) med extremt låg volatilitet. Fonden är aktivt förvaltad och investerar i en diversifierad portfölj av finansiella instrument och återköpsavtal, i en miljö med strikt risk- och likviditetsövervakning. €STR återspeglar grossistkostnaderna för euro utan säkerhet över natten för banker i euroområdet. €STR beräknas och publiceras av ECB.

Handla LYOR ETF

Lyxor Smart Overnight Return UCITS ETF C-EUR (LYOR ETF) är en europeisk börshandlad fond. Denna fond handlas på flera olika börser, till exempel Deutsche Boerse Xetra och London Stock Exchange.

Det betyder att det går att handla andelar i denna ETF genom de flesta svenska banker och Internetmäklare, till exempel DEGIRONordnet, Aktieinvest och Avanza.

Börsnoteringar

BörsValutaKortnamn
XETRAEURLYOR
gettexEURLYXW
Borsa ItalianaEURSMART
Euronext ParisEURCSH2

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WisdomTree noterar hävstångsprodukter på Xetra

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WisdomTree Magnificent 7 3x Daily Leveraged ETP och WisdomTree Magnificent 7 3x Daily Short ETP erbjuder en trippelhävstångsinvestering i "Magnificent 7" amerikanska blue-chip-aktier. De syftar till att tredubbla den dagliga utvecklingen för WisdomTree U.S. Bluechip Select Index. Båda ETNerna är fullt säkerställda skuldebrev.

WisdomTree Magnificent 7 3x Daily Leveraged ETP och WisdomTree Magnificent 7 3x Daily Short ETP erbjuder en trippelhävstångsinvestering i Magnificent 7amerikanska blue-chip-aktier. De syftar till att tredubbla den dagliga utvecklingen för WisdomTree U.S. Bluechip Select Index. Båda ETNerna är fullt säkerställda skuldebrev.

WisdomTree PHLX Semiconductor 3x Daily Leveraged ETP och WisdomTree PHLX Semiconductor 3x Daily Short ETP ger en trippel daglig hävstångsexponering, lång respektive kort, mot de 30 största börsnoterade företagen i USA som huvudsakligen är involverade i design, distribution, tillverkning och försäljning av halvledare. Båda ETNerna är fullt säkerställda skuldebrev.

NamnISIN
Kortnamn*
AvgiftUtdelnings-
policy
WisdomTree Magnificent 7 3x Daily Leveraged ETPXS3091654114
M73L (EUR)
0,75%Ackumulerande
WisdomTree Magnificent 7 3x Daily Short ETPXS3091657307
M73S (EUR)
0,75%Ackumulerande
WisdomTree PHLX Semiconductor 3x Daily Leveraged ETPXS3091657729
3SEM (EUR)
0,75%Ackumulerande
WisdomTree PLHX Semiconductor 3x Daily Short ETPXS3091646797
3SES (EUR)
0,75%Ackumulerande

Produktutbudet inom Deutsche Börses ETF- och ETP-segment omfattar för närvarande totalt 2 484 ETFer, 202 ETCer och 265 ETNer. Med detta urval och en genomsnittlig månatlig handelsvolym på cirka 25 miljarder euro är Xetra den ledande handelsplatsen för ETFer och ETPer i Europa.

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