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Through Train to Connect China A-shares with MSCI

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11 år sedan

den

17 november, 2014

Redaktionen

Deutsche Bank – Synthetic Equity & Index Strategy – Asia Through Train to Connect China A-shares with MSCI

SH-HK Connect increases the chance of China A share inclusion

CSRC and SFC announced that the Stock Connect will start on November 17. On November 14, China’s State Administration of Taxation announced new tax rules and clarifications regarding the Connect and QFII/RQFII. While clarification is still needed on a number of issues and how smooth the program will run remain unknown, we see the Stock Connect will remove some of the major obstacles for China A shares to be included in global benchmarks such as MSCI Emerging Market (EM) index.

China has made significant progress in market liberalization

The pace of reform and market liberalization in China has been accelerating in the past 18 months. A number of key changes (MSCI roadmap, QFII/RQFII expansion, “New National Nine Rules”, SH-HK Connect, Tax Clarification) have been announced this year. The timing and magnitude of these changes exceed the expectations of many investors.

MSCI road map and timeline

MSCI included China A shares in the review list for potential inclusion to its EM index back in June 2013. The index currently includes only some of the Chinese shares listed in Hong Kong and B-shares listed in China. In March 2014, MSCI put out a roadmap for inclusion of China A shares, starting from 5% of the free float market cap. MSCI will announce its decision in June 2015. If MSCI decides to include China A shares, the first change will be implemented in May 2016. While the first inclusion may be small, it is an important milestone in opening up China’s equity market.

The Connect does not completely resolve the market accessibility issue

Currently the Connect covers Shanghai listed stocks only, not including stocks listed in ShenZhen, which excludes about one third of the A share stocks to be included in the MSCI China. The daily quota of 13 bn RMB for the northbound of the Connect, which is on a first-come-first-serve basis, may cause problem for index fund managers on the rebalance day. They often would like to trade at or near the market close to minimize tracking error. Furthermore, the current tax exemption doesn’t have time limit, and the tax for prior gains is not clear.

MSCI is likely to include China A shares in the near future

In our view, MSCI is likely to announce the inclusion of China A shares in June, to be implemented in May 2016, if the Connect runs smoothly and further extends to ShenZhen, tax issue is further clarified, daily quota is not a big hurdle, and QFII/RQFII continue to expand. In addition, the Connect may increase the initial MSCI inclusion from 5% to 10% or more. Of course this is based on a number of assumptions. MSCI’s decision will not be based on future expectations, and actual timing of the inclusion is in the discretion of MSCI index committee. Regardless, we are optimistic that in the next 2-3 years China A shares will be included in one or more major global benchmarks.

We view index inclusion as a positive catalyst to the A share market

Inclusion of China A shares in MSCI or other major benchmarks could improve the sentiment and provide significant support for the market going forward. We estimate the proposed 5% inclusion could potential attract over $8bn inflow to China A shares, while a full inclusion may lead to $140 bn inflow, which is about 30% of the free float market cap in MSCI China A index.

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Is Mobile Powering the Future of Gaming?

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17 timmar sedan

den

16 oktober, 2025

Redaktionen

The global gaming industry has evolved into one of the world’s most dynamic entertainment sectors, expected to generate $188.9 billion in 2024 and surpass $200 billion by 2027, outpacing film and music combined.

From arcades to smartphones, the gaming industry has continuously evolved with each technological shift. Today, mobile gaming is a major player the market, currently accounting for the largest share of global revenues. As digital platforms, cloud gaming, and eSports continue to grow, gaming is establishing itself as a core part of the global entertainment economy.

Mobile gaming is leading this transformation, currently accounting for the majority of industry revenues and 40% of all global app downloads. With 5G adoption and 90% smartphone penetration expected by 2030, billions of new players will join the market, making gaming more accessible than ever.

However, the rollout of 5G also carries risks, uneven global infrastructure buildout, high capital costs for carriers, and potential fragmentation across networks could delay or limit the full realization of these benefits.

Source: Vantage Market Research, 2023; Pelham Smithers, 2020

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IMPORTANT INFORMATION

This is marketing communication. Please refer to the prospectus of the UCITS and to the KID/KIID before making any final investment decisions. These documents are available in English and the KIDs/KIIDs in local languages and can be obtained free of charge at www.vaneck.com, from VanEck Asset Management B.V. (the “Management Company”) or, where applicable, from the relevant appointed facility agent for your country.

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Fyra nya börshandlade fonder från JP Morgan

Publicerad

18 timmar sedan

den

16 oktober, 2025

Redaktionen

JPM Nasdaq Hedged Equity Laddered Overlay Active UCITS ETF förvaltas aktivt och investerar i en portfölj av aktier från Nasdaq 100 med en overlay-strategi. Denna strategi implementeras genom köp- och säljoptioner, med positioner som innehas under en period av tre månader. ETFen finns i både ackumulerande och utdelande andelsklasser.

JPM US Hedged Equity Laddered Overlay Active UCITS ETF förvaltas aktivt och investerar i en portfölj av aktier från S&P 500 med en overlay-strategi. Denna strategi implementeras genom köp- och säljoptioner, med positioner som innehas under en period av tre månader. ETFen finns i både ackumulerande och utdelande andelsklasser.

nxtAssets ripple direct ETP ger enkel tillgång till utvecklingen av kryptovalutan Ripple (XRP). ETPen är fysiskt säkerställd av de underliggande kryptovalutorna. Handel är möjlig antingen i euro eller amerikanska dollar.

WisdomTree Physical Stellar Lumens ger enkel tillgång till utvecklingen av kryptovalutan Stellar. ETPen är fysiskt säkerställd av de underliggande kryptovalutorna.

Namn	ISIN Kortnamn	Avgift	Utdelnings- policy
JPM Nasdaq Hedged Equity Laddered Overlay Active UCITS ETF – USD (acc)	IE000JIPY1U8 HEQQ (EUR)	0,50%	Ackumulerande
JPM Nasdaq Hedged Equity Laddered Overlay Active UCITS ETF – USD (dist)	IE0006UQKVQ0 HEQD (EUR)	0,50%	Utdelande
JPM US Hedged Equity Laddered Overlay Active UCITS ETF – USD (acc)	IE000VAZZYM3 HEOL (EUR)	0,50%	Ackumulerande
JPM US Hedged Equity Laddered Overlay Active UCITS ETF – USD (dist)	IE000K4JG8P9 HEDL (EUR)	0,50%	Utdelande
nxtAssets ripple direct ETP	DE000NXTA034 NXTX (EUR) NTXY (USD)	1,00%
WisdomTree Physical Stellar Lumens	GB00BN7K9C82 WXLM (EUR)	0,50%

Produktutbudet inom Deutsche Börses ETF- och ETP-segment omfattar för närvarande totalt 2 595 ETFer, 203 ETCer och 282 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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AIFS ETF en satsning på infrastruktur för artificiell intelligens

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19 timmar sedan

den

16 oktober, 2025

Redaktionen

iShares AI Infrastructure UCITS ETF USD (Acc) (AIFS ETF) med ISIN IE000X59ZHE2, försöker spåra STOXX Global AI Infrastructure-index. STOXX Global AI Infrastructure-index spårar prestanda för företag över hela världen som är engagerade inom området AI-infrastruktur. Aktierna som ingår filtreras enligt ESG-kriterier (miljö, social och bolagsstyrning).

Den börshandlade fondens TER (total cost ratio) uppgår till 0,35 % p.a. iShares AI Infrastructure UCITS ETF USD (Acc) är den enda ETF som följer STOXX Global AI Infrastructure-index. ETFen replikerar det underliggande indexets prestanda genom full replikering (köper alla indexbeståndsdelar). Utdelningarna i ETFen ackumuleras och återinvesteras.

Denna ETF lanserades den 5 december 2024 och har sin hemvist i Irland.

Investeringsmål

Fonden strävar efter att uppnå avkastning på din investering, genom en kombination av kapitaltillväxt och inkomst på fondens tillgångar, vilket återspeglar avkastningen från STOXX Global AI Infrastructure Index, fondens jämförelseindex (”Index”).

Handla AINS ETF

iShares AI Infrastructure UCITS ETF USD (Acc) (AIFS ETF) är en europeisk börshandlad fond. Denna fond handlas på flera olika börser, till exempel Deutsche Boerse Xetra och Euronext Amsterdam.

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.

Börsnoteringar

Börs	Valuta	Kortnamn
Euronext Amsterdam	USD	AINF
Borsa Italiana	EUR	AINF
Euronext Paris	EUR	AINF
XETRA	EUR	AIFS

Största innehav

Kort- namn	Namn	Sektor	Vikt (%)	ISIN	Valuta
AVGO	BROADCOM INC	Informationsteknologi	6,11	US11135F1012	USD
ASML	ASML HOLDING NV	Informationsteknologi	5,09	NL0010273215	EUR
2330	TAIWAN SEMICONDUCTOR MANUFACTURING	Informationsteknologi	4,94	TW0002330008	TWD
NVDA	NVIDIA CORP	Informationsteknologi	4,91	US67066G1040	USD
CSCO	CISCO SYSTEMS INC	Informationsteknologi	4,85	US17275R1023	USD
AAPL	APPLE INC	Informationsteknologi	4,72	US0378331005	USD
AMZN	AMAZON COM INC	Sällanköpsvaror	4,68	US0231351067	USD
IBM	INTERNATIONAL BUSINESS MACHINES CO	Informationsteknologi	4,63	US4592001014	USD
QCOM	QUALCOMM INC	Informationsteknologi	4,56	US7475251036	USD
MSFT	MICROSOFT CORP	Informationsteknologi	4,55	US5949181045	USD