In this week's roundup ETFM brings you news of all the listings, filings and flows in the ETP market.
Citi Launches ETF Services
Citi has set up an ETF service in Asia Pacific, to provide a complete package for providers seeking to list ETFs there.
The Asian market has been slower to develop than the US and Europe but it is growing fast. Citi's new service will provide market making, seed capital, administration, custody and accounting for ETF issuers.
Citi ETF Services will be co-headed by Bob Simon, who is currently program trading head for Citi Global Markets Hong Kong and Jeff McCarthy, global head of ETF products under Citi's Global Transactions Services' Securities and Fund Services in New York.
They will maintain their existing roles and report jointly to David Russell, head of Securities and Fund Services for Citi in Asia Pacific and Richard Heyes, head of equities, Pan Asia.
US ETPs surpass $1 trillion in July
US-listed ETFs and ETNs reached $1.1 trillion in assets at the end of July, according to the National Stock Exchange. This represents an increase of 33% in comparison to July 2010.
ETFs and ETNs had inflows of $13.2 billion in July and notional trading volumes totalled $1.5 trillion, representing nearly 31% of all U.S. equity trading volume.
Deutsche lists Bric ETF in Germany
Deutsche Bank listed a Bric ETF on the Deutsche Bӧrse on Thursday. The fund provides exposure to the performance of the Brazilian, Russian, Indian and Chinese economies; it tracks the MSCI Bric TRN Index.
US ETPs hit by market uncertainty
Uncertainty over whether an agreement would be reached on extending the US debt ceiling hit ETPs last week. US ETPs experienced $1.9 billion of outflows; long only equity ETPs were hit particularly badly, with US-focused ETPs taking the worst hit. Long only fixed income ETPs saw inflows of $153 million.
Asian ETPs experience strong flows in July
The Asian ETP market had better news to share this week. In July, ETPs experienced inflows of $2.1 billion, lead by equity ETPs, which saw $2 billion of inflows. ETPs listed in Taiwan had the highest inflows with $598m, followed by Korea with $525m and Hong Kong with $517m.
Russell files for fixed income ETFs
Russell has filed with the US Securities Exchange Commission (SEC) for three new fixed income ETFs: Russell Total Return Fixed Income ETF, Russell Core Fixed Income ETF and Russell Emerging Markets Fixed Income ETF.
Rydex lists equal weight ETFs
US-based asset manager Rydex has listed two equal weight ETFs: Rydex S&P SmallCap 600 Equal Weight ETF and Rydex S&P MidCap 400 Equal Weight ETF.
EGShares lists low volatility emerging markets ETF
EGShares, the ETF business of Emerging Global Advisors has launched an ETF based on the INDXX Emerging Market High Income Low Beta Index. The fund, which is listed on the New York Stock Exchange, is designed to be less volatile than those based on the MSCI Emerging Markets Index.
Van Eck files for Chinese debt ETF
Last week Van Eck filed with the SEC for the Market Vectors Dim Sum Bond ETF, which will track the performance of Chinese yuan denominated debt issued outside mainland China.
From June 2019
11 years since launch of three Chartered titles
Hired 200 extra operational staff
Slow progress in improving diversity
Share purchase deal with assets of £28m