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Asia ETF Roundup (Industry) – July 2019

Shanghai’s STAR Market trading debut; HK’s offshore Chinese equity ETFs see net inflows of USD 0.4 billion; USD 0.3 billion of net outflows from HK’s onshore Chinese equity ETFs.

Jackie Choy, CFA 08/08/19

For economic and market news relating to Asian ETFs, please refer to our “Asia ETF Roundup (Market) – July 2019”.


ETF Industry News

First Batch of Companies Lists on Shanghai’s “STAR Market”
On 22 July, the first batch of companies was listed on Shanghai Stock Exchange’s “STAR Market” (Sci-Tech innovAtion boaRd). The STAR Market was officially launched in June with the aim to provide a listing venue for technology companies. The STAR Market has less stringent requirements for company listings as compared to the other boards in the Chinese onshore market, such as the ChiNext.

Chinese Equity ETF Watch – HK-Domiciled Offshore Chinese Equity ETFs See Net Inflows of USD 369 million while Onshore Chinese Equity ETFs See Net Outflows of USD 323 million
• Hong Kong-domiciled ETFs in the China Equity Category saw estimated inflows of USD 369 million in July, coming mainly from the Hang Seng China Enterprises ETF (02828). Meanwhile, ETFs in the China Equity – A-Shares Category saw estimated outflows of USD 323 million, coming mainly out of the iShares FTSE A50 China Index ETF (02823/82823), the CSOP FTSE China A50 ETF (02822/82822) and the ChinaAMC CSI 300 Index ETF (03188/83188).
• For the first seven month of 2019, Hong Kong-domiciled ETFs in the China Equity Category saw estimated outflows of USD 0.4 billion, while ETFs in the China Equity – A-Shares Category saw estimated outflows of USD 2.0 billion.
• In the U.S. in July, we saw an estimated USD 353 million of net outflows from the iShares China Large-Cap ETF (FXI) and the iShares MSCI China ETF (MCHI) and an estimated USD 37 million of net outflows from the Xtrackers Harvest CSI 300 China A ETF (ASHR).

 

New Launches and Listings

Premia Partners, Mirae Listed 4 ETFs in Hong Kong
On 18 July, Premia Partners listed 2 ETFs on the Stock Exchange of Hong Kong. These ETFs track the MSCI Vietnam Index (NTR) and the Bloomberg Barclays US Treasury Floating Rate Bond Index, respectively.

On 25 July, Mirae Asset listed 2 ETFs on the Stock Exchange of Hong Kong. These ETFs track the Solactive China Biotech Index NTR and the Solactive China Cloud Computing Index NTR, respectively.

This listing put the total number of ETF listings in Hong Kong at 205 (132 ETFs, 73 multiple counters, including 22 L&I Products).

Fubon, Shin Kong, Taishin, CTBC Listed 7 Bond ETFs in Taiwan
On 16 July, Fubon Asset Management listed 2 ETFs on the Taipei Exchange. These ETFs track the FTSE Emerging Markets USD Investment-Grade Corporate Bond ex-China 5+ Years Capped Index and the Bloomberg Barclays Europe USD Banking 7-15 Year Bond Index, respectively.

On 18 July, Shin Kong Investment Trust listed an ETF on the Taipei Exchange. The ETF tracks the ICE BofAML 15+ Year US Banking Index.

On 19 July, Taishin Securities listed an ETF on the Taipei Exchange. The ETF tracks the Bloomberg Barclays China Policy Bank 5+ Year 15 bln Index.

On 30 July, CTBC Investments listed 3 ETFs on the Taipei Exchange. These ETFs track the Bloomberg Bloomberg Barclays Long Term US Treasury and High Grade Municipal Bond Index, the Bloomberg Barclays Emerging Asia (ex-China) USD Select Bond Index and theICE 0-5 Year AAA-BB EM USD Government Bond ex-144a Constrained Index, respectively.

These listings put the total number of ETFs listed in Taiwan at 202, of which 81 of them are bond ETFs.

GF, Fullgoal, Harvest, China Universal and China AMC Listed 6 ETFs in China
On 1 July, GF Fund Management listed an ETF on the Shanghai Stock Exchange. The ETF tracks the CSI 100 Index.

On 2 July, Fullgoal Fund Management listed an ETF on the Shenzhen Stock Exchange. The ETF tracks the ChiNext Price Index.

On 5 July, Harvest Fund Management listed an ETF on the Shanghai Stock Exchange. The ETF tracks the CSI RAFI 50 Index.

On 9 July, China Universal Asset Management listed an ETF on the Shanghai Stock Exchange. The ETF tracks SSE Shanghai’s Development Index.

On 15 July, China AMC listed 2 ETFs on Shenzhen Stock Exchange. These ETFs track the ChiNext Low Volatility Blue Chips Index and the SZSE ChiNext Momentum Growth Index, respectively.

These listings put the total number of ETFs listed in China at 222 (61 ETFs on the SZSE, 161 ETFs on the SSE).

Samsung, Mirae Listed 5 ETFs in South Korea
On 4 July, Samsung Asset Management listed 3 ETFs on the Korea Exchange. These ETFs track the FnGuide TRF 3070 Index, the FnGuide TRF 5050 Index and the FnGuide TRF 7030 Index.

On 19 and 24 July, Mirae Asset listed an ETF, tracking the FnGuide Real Estate Infrastructure High Dividend Index and the KIS U.S. TREASURY BOND 0-1Y Index (Total Return), respectively.

These listings put the total number of ETFs listed in South Korea at 435.

ETFs Launched in July 2019 in the Asia ex-Japan Region

About Author Jackie Choy, CFA

Jackie Choy, CFA  

Jackie Choy, CFA is the Director of ETF Research for Morningstar Investment Management Asia