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China to lead global ETF market growth, PwC says
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CHINA’S mainland and other Asian regions are expected to lead the growth of exchange-traded fund market in the next five years thanks to the increasingly opening-up of the market and an improving regulatory environment, a report said today.
Twenty-five new ETFs were launched on the Shanghai and Shenzhen stock exchanges last year, bringing the total number to 107, PricewaterhouseCoopers said in a report released today.
Assets under management reached 253 billion yuan (US$40.8 billion) by the end of 2014, increasing 58 percent from a year earlier, according to the report.
“A low fee structure and good liquidity attracted more investors and drove the growth of China’s ETF market in 2014,” said Alex Wong, PwC China Assets Management Leader. “Looking ahead, more domestic and overseas passive investors will use ETF for asset allocation.”
Globally, total asset managed by ETFs is expected to at least double to reach US$5 trillion or more by 2020, the accounting firm forecasted.
Assets flows in developed markets of the US and Europe will continue to dominate the ETF landscape, but the highest rates of growth will be found in less mature markets, particularly Asia, which currently only accounts for 7 percent to global ETF assets, PwC said.
According to a survey by PwC which involves executives from 60 ETF sponsors, asset managers and service providers around the world that account for over 70 percent of global ETF assets, 59 percent of the respondents expected their ETF businesses to be more profitable in 2015 and 91 percent indicated the regulatory environment will have a significant impact on the growth and innovation of ETFs.
China’s securities regulator last month allowed same-day trading of cross-border ETFs and Listed Open-ended Funds (LOF). China also started a trial trading of options on SSE 50 ETF today.
“The changes to trading rules will improve the efficiency and liquidity of ETF trading,” said Wong. “The launch of ETF options and other upcoming financial products broaden investment strategy, encourage product innovation, and will aid the development of the ETF market and the entire investment market over the long-term.”
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