EUROPE - Deutsche Bank plans to expand into the nascent Asian ETF business after strong European gro...
EUROPE - Deutsche Bank plans to expand into the nascent Asian ETF business after strong European growth in its two-year old offerings.
Next month, the firm plans to cross list the same products it currently offers in Europe to Asian investors, said Manooj Mistry, head of head of db x-trackers UK at Deutsche Bank.
"The Asian markets are in a similar position as Europe was four to five years ago," said Mistry. "We see that the market there is very much in its infancy."
Mistry said the bank will begin by offering ETFs tracking local indexes and eventually expand into international products.
Deutsche has not established a defined growth target, but officials think the market is ripe for growth. According to data compiled by Deutsche, the Asian Pacific ex-Japan ETF market was worth US$23.6bn vs. $142bn for the European market.
Deutsche's two-year old exchange traded fund business saw net inflows of €12bn (US$15.8bn) in 2008, up 132% from the previous year.
Some €6.8bn (£6.1bn) went into the firm's equity ETFs with €5.2bn flowing into Deutche's fixed income funds.
£92bn transferred since 2015
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