20160302-三星证券-Asia_Pacific_ETF_News_Risk_aversion_abates_26页_963kb

ETF News Summary

Core Content

The document provides an overview of the Asia Pacific ETF market and highlights recent trends in ETF listings and asset under management (AUM) as of early 2016. It discusses the market recovery from early-year corrections, the performance of commodity-based ETFs, and the outlook for the Asia-Pacific ETF market. Additionally, it includes data on AUM distribution, trading value, and newly listed ETFs in both the Asia-Pacific region and the US.

Main Points

Market Recovery

• Asian markets showed signs of recovery from early-year corrections due to reduced risk aversion and increased stock market activity from mid-February.
• The Shanghai Composite Index recovered from a 22% drop in January, declining only 1% in February.
• The HSCEI gained 2% after a 11% drop in January.
• The STI (Singapore) rebounded by 1% after an 8% drop.
• The TWI (Taiwan) and IDX (Indonesia) each rose by 3%.
• The NIKKEI225 and Sensex (India) fell by 8% and 7%, respectively.

ETF Asset Value

• Assets in the Asia Pacific ETF market reached USD249.4 billion by the end of February, up from USD233.9 billion two weeks prior.
• The asset value surged by more than USD15 billion within the month.
• Tokyo-listed ETFs saw an increase of around USD11 billion in February.
• Shanghai-listed ETFs expanded by USD1.2 billion, supported by rising share prices and fund inflows.

Commodity-Based ETFs

• Among the top-30 ETFs by year-to-date performance, 14 were commodity-based, all related to gold.
• Gold prices rose 16% year-to-date, contributing to the strong performance of gold-related ETFs.
• The bottom-30 ETFs included 11 related to the Chinese stock market and 17 to the Japanese market, indicating poor performance in these regions.

US ETF Listings

• New ETPs listed in February were mainly oil-related and MLP ETNs, driven by capital inflows as oil prices fell to levels not seen in over a decade.
• Some MLP-based ETNs are leveraged products, encouraging momentum investments in the MLP market.
• High-yield bond-related products were also listed, reflecting positive economic recovery prospects.

Key Information

Asia-Pacific ETF Listings by Exchange

AUM by Asset Class

AUM by Exchange

Top-30 ETFs by AUM

Newly Listed ETFs in Asia-Pacific

Outlook

• The Asia-Pacific ETF market outlook hinges on the recovery of Chinese and Japanese stock markets.
• If these markets rebound in March, risk appetite is expected to return.
• The report suggests increasing exposure to China and Japan ETFs that have dropped sharply and adjusting exposure to gold ETFs that have risen too quickly.