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ETF Assets to Pass $3 trillion Milestone in 2015

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9 år sedan

den

27 januari, 2015

ETF Assets to Pass $3 trillion Milestone in 2015ETF Assets to Pass $3 trillion Milestone in 2015 Deutsche Bank – Synthetic Equity & Index Strategy – Global

ETF Annual Review & Outlook –

Data in this report is as of 31st December 2014

ETF assets up by 17% reaching $2.64 trillion in 2014 driven by record inflows

The global ETF Industry experienced best growth ever pushing AUM to $2.6 trillion by the end of 2014 reaching a new record. The strong 17% growth was mainly attributable to organic sources (i.e. new money inflows) which made up 14.6%, while price appreciation had a much less significant contribution of 2.7% – definitely different from previous years when both components had contributed almost equally to the overall growth.

The global ETF industry received healthy cash flows during 2014 recording cash inflows for +$328bn which represent significant growth compared to the previous two years in which the industry attracted +$263bn (2013) and +$247bn (2012), respectively. During the last three years equities have stood as leaders contributing the major portion of the inflows, but during 2014 fixed income ETFs also showed significant signs of growth and contributed +$89.3bn in inflows (vs. +$24.4bn in 2013).

The US, Europe, Asia-Pac, and RoW regional ETF assets closed the year at $1.92 trillion (+19%), $438.9bn (+11%), $201.4bn (+20%), and $77.8bn (+5.6%), respectively. Global ETP (including ETC/ETVs) assets grew by 16% to $2.7 trillion last year.

We expect global ETF assets to pass $3 trillion in 2015

We project the industry will continue to grow at a fast pace in 2015. In our base case scenario, assuming a neutral market condition, global ETF assets may grow c.20%: broken down into 11.6% or $305bn growth from new cash flows, and 9% from price appreciation. This growth should put the ETF assets well on their way to $3.2 trillion by the end of 2015. We expect the US ETF market to be the major contributor with similar asset growth (19.5%) and inflows in the vicinity of $230bn. In a bull market case, ETF assets may grow over 30% approaching $3.5 trillion. We expect ETPs (including ETFs and other exchange traded products such as ETVs/ETCs) to experience a similar, but slightly lower, growth rate than ETFs and reach about $3.26 trillion in 2015 in our base case scenario, and pass $3.5 trillion in a bull market case.

ETF flows suggest investors preferred less risky assets

US Equity-focused ETPs played a major role in 2014 as investors took positions to benefit from an improving US economy, allocating $234.5bn to such funds. We saw significant flows going into different segments in fixed income space, but caution was the main theme for the year as investors embraced safer products as their main allocation preference. After suffering what can only be described as the worst year for Commodity-focused ETPs during 2013 from a flows perspective, we saw investors’ lack of interest continue during 2014.

Among Equity products, US-focused Equity ETPs received the largest inflows, gathering $161.1bn in fresh cash. Meanwhile, other significant flows worth highlighting during 2014 were DM Broad (+$44.5bn), Japan (+$18.2bn), Germany (-$10.6bn), China (-$3.3bn), India (+$3.2bn) and ETPs benchmarked to Financials (+$17.8bn) and Energy (+$11.4bn). Meanwhile, actively managed products witnessed inflows of $3.6bn. Fixed Income saw strong inflows into Corporates ($30.0bn) and Sovereign ($23.0bn) benchmarked products, with a clear preference toward quality and less interest-rate sensitive products, with Short and Medium Duration products capturing $13.3bn and $16.7bn inflows.

We expect developed markets to capture most of the flow attention during 2015, especially the US underpinned by a better macro backdrop. Japan should see renewed interest as another chapter of “Abenomics” is written; while Europe’s ability to capture flows will depend on their ability to convince markets that the ECB measures are bringing forth the right fruits. In Emerging Markets caution will most likely be the theme for the year with significant differentiation across regions and countries. India and China are most likely to continue to attract most of the new flows in the EM space. If higher volatility expectations materialize, fixed income should experience additional safe-haven driven demand. Commodities should continue to experience weakness once again in the current year.

ETF trading activity up 13% in 2014 reaching $18.7 trillion and will continue to rise

Trading activity picked up in 2014 again with ETF turnover levels registering a rise of 13% over 2013. Overall turnover levels in 2014, 2013 and 2012 were $18.7 trillion, $16.5 trillion and $15.3 trillion, respectively. In 2014, Asian ETFs again recorded the highest increase of 41.6% in trading volumes ($925bn), after a 100% increase in 2013, significantly surpassing European on-exchange volumes ($698bn, up 16%). US ETFs continue to dominate the global ETF trading activity ($16 trillion, up 14.6%). We expect to see ETF trading activity to further increase in 2015 due to wider adoption of ETFs and more product offerings.

ETF markets advance globally with no sign of slowing down

In the US, ETFs beat Mutual Funds in the race for new assets in a year that should have favored mutual funds. Organic growth was the main driver behind ETFs, while Mutual Funds failed to record significant organic growth. US investors continue to use ETFs to control different aspects of their portfolios, behavior that was manifested by strong trends in currency hedged and “smart beta” ETFs. We believe that macro developments and ETF investors’ strategies will continue to support the growth in these two product areas during 2015.

In Europe, ETFs continue to blend with the markets as the products available allow investors to implement strategies around important market developments such as the ECB stimulus package, and Russian headwinds. In addition, some investors are also considering ETFs as an alternative to Futures; while new product development continues gaining traction with “smart beta” ETFs recording remarkable growth in 2014.

In Asia-Pac, we saw more developments and opening up of the Asian equity markets to global investors through growth of Japan ETFs, asset allocation changes by Japanese pension funds, RQFII program, fund passport systems, etc. As a result, Asia-Pacific ETFs experienced the fastest percentage growth in 2014 (20%) comparing with the US and Europe in USD terms while the growth was almost 30% in local currency. We expect this trend will continue in 2015. More specifically, RQFII ETFs will continue to shine in 2015 after assets registered 77% YoY growth in 2014; Japan and JPX-Nikkei 400 ETFs will benefit from increasing equity allocation by Japanese pension funds; Fund passport and mutual recognition programs are in sight; ETFs listed globally with investment focus in Asia-Pacific will continue to grow, especially with Japan, China and India exposure; leverage and short ETFs will continue to be adopted by institutional investors as a good trading tool.

Liknande ämnen:Deutsche Bank

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The Bitcoin Halving and Beyond

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14 timmar sedan

den

22 april, 2024

Redaktionen

Discover the latest insights on the Bitcoin halving event.

Get our report to understand how the upcoming halving in April will impact the market, mining community, and the Bitcoin ecosystem.

Download Full Report

What is the Bitcoin Halving?

The Bitcoin halving is a programmed event that reduces the reward for mining new coins by 50% approximately every four years, ultimately limiting the total supply of Bitcoin, akin to the scarcity of gold. This mechanism, embedded in Bitcoin’s protocol, aims to maintain its value proposition as a decentralized, fixed and immutable monetary system, although its performance is influenced by various factors that go beyond the halving.

How are miners impacted by the halving?

The Bitcoin halving impacts miners through reduced block rewards and shifts in profitability, influenced by Bitcoin’s price fluctuations. Miners may seek refinancing options to sustain operations, while decreased mining difficulty during downturns encourages cost-effectiveness and strengthens the network. As a result of this cycle’s unique demand, miners are selling less BTC on exchanges, indicating a more bullish stance amidst price surges and increased market accessibility driven by ETF inflows.

How can I get access via ETPs?

Easily access Bitcoin through Exchange-Traded Products (ETPs) listed on regulated exchanges. With these ETPs, you can trade Bitcoin via your regular brokerage accounts without the need for a digital wallet. Rest assured as you invest confidently, supported by transparent documentation and similar tax treatments as traditional ETPs or securities. Start trading Bitcoin ETPs today for a seamless investment experience that combines the convenience of traditional trading with the potential of cryptocurrency assets.

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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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GinsGlobal lyfter fram unik investeringsmetod i utvecklande tekniskt landskap

Publicerad

15 timmar sedan

den

22 april, 2024

Redaktionen

Anthony Ginsberg, VD för GinsGlobal Index Fund gick med Steve Darling från Proactive för att ge en översikt och uppdatering om Tech Megatrend ETF (T3KE). Ginsberg fördjupade sig i fondens globala räckvidd och strategiska tillvägagångssätt och lyfte fram dess utmärkande egenskaper, investeringsmetod i utvecklande tekniskt landskap och investeringsstrategi.

Tech Megatrend ETF utmärker sig för sitt globala fotavtryck och omfattar ett mångsidigt teknikriktmärke med cirka 60 % exponering mot den amerikanska marknaden och betydande allokeringar till Japan, Kina och Europa. Till skillnad från NASDAQ, som är starkt koncentrerad till ett fåtal stora teknikföretag, använder GinsGlobal Index Fund ett lika viktat tillvägagångssätt över sina 120 innehav, där inget enskilt innehav normalt överstiger 2 %.

Denna strategi gör det möjligt för fonden att fånga ett brett spektrum av teknikunderteman, inklusive digital underhållning, sociala medier, blockchain, elfordon, cybersäkerhet, artificiell intelligens och robotik. Ginsberg underströk fondens gynnsamma pris-till-vinst-förhållande, som för närvarande svävar runt 18 gånger, vilket tyder på att dess aktier inte är övervärderade jämfört med vissa marknadssegment. Han lyfte också fram potentialen för expansion bortom megabolagsbolag, understödd av positiva ekonomiska indikatorer i USA och möjligheten till lägre räntor, vilket kan båda gott för medel- och småbolagsaktier.

När det gäller förvärvstrender noterade Ginsberg det aktiva engagemanget från både stora och medelstora företag i fusioner och förvärv, med medelstora företag som representerar attraktiva mål som inte utlöser antitrustproblem.

Han diskuterade också de potentiella effekterna av en stark dollar och den amerikanska regeringens initiativ som syftar till att minska beroendet av utländsk teknologi, vilket kan stärka Nordamerikas konkurrenskraft och stimulera landningstrender. Sammanfattningsvis belyser Ginsbergs insikter det dynamiska landskapet inom tekniksektorn och den strategiska positioneringen av Tech Megatrend ETF inom den.

Eftersom fonden fortsätter att navigera i marknadstrender och dra nytta av nya möjligheter, kan investerare förvänta sig att dra nytta av dess diversifierade portfölj och framtidsinriktade investeringsstrategi. Håll ögonen öppna för ytterligare uppdateringar eftersom GinsGlobal Index Fund fortsätter att driva innovation och tillväxt inom teknikområdet.

Handla T3KE ETF

HANetf HAN-GINS Tech Megatrend Equal Weight UCITS ETF (T3KE ETF) är en europeisk börshandlad fond som handlas på bland annat London Stock Exchange och tyska Xetra.

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

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JPHG ETF ger exponering mot 400 japanska aktier, hedgat i brittiska pund

Publicerad

16 timmar sedan

den

22 april, 2024

Redaktionen

Amundi JPX Nikkei 400 UCITS ETF Daily Hedged GBP (JPHG ETF) med ISIN LU1681039308, försöker följa JPX-Nikkei 400 (GBP Hedged) index. JPX-Nikkei 400 (GBP Hedged)-index spårar 400 japanska aktier. Aktierna väljs i huvudsak utifrån avkastning på eget kapital och ackumulerat rörelseresultat. Valutasäkrad till brittiska pund (GBP).

Den börshandlade fondens TER (total cost ratio) uppgår till 0,18 % p.a. Amundi JPX Nikkei 400 UCITS ETF Daily Hedged GBP är den enda ETF som följer JPX-Nikkei 400 (GBP Hedged) index. Denna ETF replikerar resultatet för det underliggande indexet syntetiskt med en swap. Utdelningarna i ETFen ackumuleras och återinvesteras.

Amundi JPX Nikkei 400 UCITS ETF Daily Hedged GBP är en mycket liten ETF med tillgångar på 3 miljoner euro under förvaltning. Denna ETF lanserades den 28 maj 2015 och har sin hemvist i Luxemburg.

Investeringsmål

Amundi JPX Nikkei 400 UCITS ETF Daily Hedged GBP strävar efter att så nära som möjligt replikera utvecklingen av utvecklingen för det yendenominerade JPX-Nikkei 400-indexet (återinvesterade nettoutdelningar), oavsett om trenden är stigande eller fallande och har en månatlig valutasäkring i GBP. Denna ETF gör det möjligt för investerare att dra nytta av en exponering mot ett urval av japanska aktier utvalda enligt kvantitativa kriterier och kvalitativa kriterier för bolagsstyrning, och viktade enligt deras börsvärde.

Handla JPHG ETF

Amundi JPX Nikkei 400 UCITS ETF Daily Hedged GBP (JPHG ETF) är en börshandlad fond (ETF) som handlas på London Stock Exchange.

London Stock Exchange är en marknad som få svenska banker och nätmäklare erbjuder access till, men DEGIRO gör det.

Börsnoteringar

Börs	Valuta	Kortnamn
gettex	EUR	18MQ
Euronext Paris	GBP	JPHG
London Stock Exchange	GBX	JPHG
SIX Swiss Exchange	GBP	JPHG

Största innehav

Denna fond använder syntetisk replikering för att spåra indexets prestanda.

Namn	Valuta	Vikt %	Sektor
TOKYO ELECTRON JPY50	JPY	2,40 %	Informationsteknologi
TOYOTA MOTOR CORP	JPY	2,08 %	Sällanköpsvaror
MITSUBISHI CORPORATION	JPY	2,08 %	Industri
HITACHI LTD	JPY	2,05 %	Industri
SHIN-ETSU CHEM CO JPY50	JPY	1,88 %	Materials
RECRUIT HOLDINGS CO LTD	JPY	1,85 %	Industri
MITSUI & CO LTD	JPY	1,82 %	Industri
SUMITOMO MITSUI FINANCIAL GROUP	JPY	1,81 %	Finans
MITSUBISHI UFJ FINANCIAL GROUP	JPY	1,81 %	Finans
TOKIO MARINE HOLDINGS INC	JPY	1,68 %	Finans