August ETP launch review

Transcription

1 August ETP launch review Markit September 3 rd 2014 A new issuer enters the market in an otherwise slow summer month This report aggregates newly launched funds in August and highlights the performance of the funds launched in July. 23 funds were launched in July, a 30% drop in newly launched funds 18 funds were launched in the Americas, two in Europe and three were launched in the APAC region WBI Investments dominated the month of August by entering the ETF space with ten newly launched funds August New Listings Alternative ETFs outpaced equity ETFs in the month of August for the first time this year. This was a result of WBI Investments launching their first ten funds in the last few days of the month, all of which were alternative ETFs. Outside of WBI Investments, only 13 other funds were launched, marking the slowest month for ETF launches this year. The remaining funds were equity ETFs as well as four new fixed income ETFs with exposure to US bonds. Bosera Asset Management added the lone commodity ETF tracking the gold spot listed on the Shanghai Stock Exchange. A large majority of the funds launched were actively managed. While ten out of the 14 came from WBI Investments, both ProShares and First Trust launched two actively managed funds of their own. This is the first time that there have been more actively managed funds launched than indexed funds. July Flows Almost $1bn in assets flowed into the 33 funds launched in July. The largest gainer was HSBC Worldwide Equity UCITS ETF (HWWD) which has had $452min inflows since inception. Overall, equities gained 92% of the inflows which has been a consistent pattern for As a region, Europe brought in 72% of all asset inflows for the funds that were launched in July. This was in large due to the massive inflows into HWWD. HWWD invests in large and mid-cap companies across developed and emerging markets to capture the performance of the global equities market. Sprotts Gold Miners ETF (SGDM) led the Americas with $36m in inflows by providing exposure to large- and mid-cap gold companies. Gold miners have underperformed the price of gold since April of Sprotts is hoping that a strong demand for gold, particularly from China, Russia and India will give gold mining stocks a boost in the coming months.

2 August new launch strategies WBI Investments, a mutual fund manager with over $2.4bn in assets under management, made the transition into ETFs this past month with the addition of ten new actively managed funds. For each of the funds, 80% of the investments were into equities of varying market capitalisation with the other 20% in various fixed income assets. The funds also varied by growth vs. value opportunities. ProShares added three new ETFs in August. Two of them provided exposure to North American high yield debt ETFs. This comes after a turbulent July for high yield bond ETFs that saw outflows of $3.4bn. Proshares CDS Short North American HY Credit ETF (WYDE) may be a good option for those who see the high yield bond market to be overvalued. One of the more interesting funds to launch this year is Direxion ibillionaire Index ETF (IBLN). The underlying index selects up to ten billionaires based on personal net worth, source of wealth, portfolio concentration, turnover, and performance over time and selects 30 companies from their investment strategies. Each company is allocated a fixed equal weight of 3.33%. More than half of its assets are invested in Consumer Services, Technology and Financial stocks all listed on the NYSE or the NASDAQ.

3 July overview July Listed Funds Total Inflows (As of 08/29/2014) Asset Class Americas APAC Europe Total Per Asset Class Equity $120,428,422 $61,414,671 $686,147,654 $867,990,748 Fixed Income $42,424,112 $ - $ - $42,424,112 Currency $36,026,500 $ - $ - $36,026,500 Total Per Region $198,879,035 $61,414,671 $686,147,654 $946,441,360

4 August newly listed ETPs Americas listed: ETP name Ticker Listing country Launch date Asset class Investment exposure WBI Tactical Income Shares WBII Alternative Asset Allocation WBI Tactical High Income Shares WBIH Alternative Asset Allocation WBI Large Cap Tactical Select Shares WBIL Alternative Asset Allocation WBI Large Cap Tactical Value Shares WBIF Alternative Asset Allocation WBI Large Cap Tactical Yield Shares WBIG Alternative Asset Allocation WBI SMID Tactical Value Shares WBIB Alternative Asset Allocation WBI SMID Tactical Yield Shares WBIC Alternative Asset Allocation WBI SMID Tactical Select Shares WBID Alternative Asset Allocation WBI Large Cap Tactical Growth Shares WBIE Alternative Asset Allocation WBI SMID Tactical Growth Shares WBIA Alternative Asset Allocation ProShares MSCI EAFE Dividend Growers ETF EFAD Equity Dividend First Trust Strategic Income ETF FDIV Alternative Asset Allocation ishares ibonds Sep 2020 AMT-Free Muni Bond ETF IBMI Fixed Income Municipal First Trust Enhanced Short Maturity ETF FTSM Fixed Income Broad Market ProShares CDS North American HY Credit ETF ProShares CDS Short North American HY Credit ETF Compass EMP U.S. Discovery 500 Enhanced Volatility Weighted Fund TYTE Fixed Income Corporate - Credit WYDE Fixed Income Corporate - Credit CSF Equity Small Cap Direxion ibillionaire Index ETF IBLN Equity Large & Mid Cap

5 Europe listed: ETP name Ticker Listing country Launch date Asset class Investment exposure db x-trackers FTSE Developed Europe Ex UK Property UCITS ETF 1C (DR) db x-trackers Harvest CSI SMALLCAP 500 INDEX UCITS ETF (DR) XREA Germany Equity Real Estate RQFS Germany Equity Small Cap APAC listed: ETP name Ticker Listing country Launch date Asset class Investment exposure Listed Index Fund Nikkei Leveraged Index 1358 Japan Equity Broad Market ARIRANG SYNTH-CHINA H LEVERAGE(H) South Korea Equity Broad Market BOSERA Gold ETF China Commodity Gold

6 July newly listed performance Americas listed: ETP name Ticker Listing country Launch date Asset class AUM Growth Total Asset Flow Sprott Gold Miners ETF SGDM Commodity 1474% $36,026,500 Barclays Women in Leadership ETN WIL Equity 3% $25,346,447 Barclays Inverse U.S. Treasury Aggregate TAPR Fixed Income -7% $25,117,407 Calamos Focused Growth ETF CFGE Equity 2281% $21,431,600 Compass EMP U.S. 500 Enhanced Volatility Weighted Index ETF CFO Equity 506% $17,451,500 Compass EMP US EQ Income 100 Enhanced Volatility Weighted Fund CDC Equity 453% $15,532,500 Horizons Canadian Midstream Oil & Gas Index ETF First Trust Dorsey Wright International Focus 5 ETF AdvisorShares Athena High Dividend ETF ishares Core Short Term High Quality Bond Index Fund Market Vectors ChinaAMC SME-ChiNext ETF ishares Currency Hedged MSCI EMU ETF Compass EMP U.S. 500 Volatility Weighted Index ETF First Trust CDN Global Risk Managed Income Index ETF PowerShares 1-3 Year Laddered Floating Rate Note Index ishares Global REIT ETF AdvisorShares Sunrise Global Multi- Strategy ETF First Asset Hamilton Capital European Bank ETF HOG Canada Equity 64% $7,304,851 IFV DIVI Equity 245% $6,859, Equity 179% $6,825,250 XSQ Canada Fixed Income 49% $5,554,221 CNXT HEZU CFA Equity 123% $5,142, Equity 48% $3,715, Equity 102% $3,441,000 ETP Canada Fixed Income 125% $3,337,127 PFL Canada Fixed Income 48% $2,775,567 REET MULT Equity 104% $2,515, Equity 1% $2,508,000 FHB Canada Equity 30% $2,124,004

7 Direxion Daily Mid Cap Bull 2X Shares Direxion Daily 7-10 Year Treasury Bull 2X Shares PowerShares LadderRite U.S. 0-5 Year Corporate Bond Index ETF - USD PowerShares LadderRite U.S. 0-5 Year Corporate Bond Index ETF Index First Trust CDN Global Risk Managed Income Index (Advisor Class) ETF First Asset Hamilton Capital European Bank ETF A MDLL SYTL Direxion Daily Small Cap Bull 2X Shares SMLL RBC Yorkville MLP Distribution Growth Leaders Liquid PR Index (July 19, 2034) ETN Equity 27% $2,069, Fixed Income 23% $2,006,500 USB.U Canada Fixed Income 200% $1,867,266 USB Canada Fixed Income -25% $1,393,657 ETP.A Canada Fixed Income 0% $372,369 FHB.A Canada Equity 1% $235,730 YGRO Equity -15% $(2,074,000) Equity 0% $ - Europe listed: ETP name Ticker Listing country Launch date Asset class AUM Growth Total Asset Flow HSBC WORLDWIDE EQUITY UCITS ETF HWWD db x-trackers MSCI World Index UCITS ETF 1C (DR) LYXOR ETF SG Global Value Beta Part C EUR UBS-ETF SICAV - MSCI EMU 100% hedged to SGD UCITS Comstage ETF SP500 EU NET TR EUR NPV Kingdom Equity 191% $452,137,822 XDWD Germany Equity 2417% $176,014,510 SGVB France Equity 4532% $46,159,508 EUSGBH Switzerland Equity -2% $11,835,815 XFRA Germany Equity -1% $ - APAC listed: ETP name NEXT FUNDS Nikkei 225 double Inverse Index ETF Ticker Listing country Launch date Asset class AUM Growth Total Asset Flow 1357 Japan Equity 156% $53,088,084 E Fund CSI 300 Financials ex Banks China Equity 0% $8,326,587

8 James Hohorst Associate Markit Tel: For further information, please visit