Deutsche AM terminates 16 ETFs in Hong Kong

Added 17th July 2017

Deutsche Asset Management is delisting 16 DB x-trackers ETFs in Hong Kong, reducing by half the number of the firm's ETFs listed in the SAR, according to records from the Hong Kong Exchange and Clearing.

Deutsche AM terminates 16 ETFs in Hong Kong

 

The products include sector-specific ETFs that track China A-shares and other regional and single-country-focused ETFs.

DB x-trackers ETFs are Ucits funds registered in Luxembourg. The firm is withdrawing the 16 ETFs from the Hong Kong market by delisting their share classes registered for sale in the SAR. 

According to HKEX, the last trading day for the ETFs was 12 July. Their expected de-authorisation and delisting date will be on 31 October.

Deutsche AM said in an announcement that it had decided to terminate these ETFs after considering, among other factors, the current level of assets in each ETF share class listed in Hong Kong. 

The majority of the firm’s ETF share classes scheduled for delisting had assets of around $1m-$3m as of the beginning of June, according to the announcement.

“The proposed cessation of trading, compulsory redemption, termination, deauthorisation and delisting would be in the best interest of the Hong Kong shareholders of each terminating share class,” the firm said.

FSA sought more information from the firm, but it declined to comment about the delistings.

Delisted DB x-tracker ETFs

ETF

Net asset value of the terminating share class ($)

DB x-trackers CSI 300 Banks Ucits ETF - Class 1D

1.97m

DB x-trackers CSI 300 Consumer Discretionary Ucits ETF - Class 1D

10.27m

DB x-trackers CSI300 Energy Ucits ETF - Class 1D

644,000

DB x-trackers CSI 300 Financials Ucits ETF - Class 1D

1.80m

DB x-trackers CSI300 Health Care Ucits ETF - Class 1D

6.06m

DB x-trackers CSI 300 Industrials Ucits ETF - Class 1D

862,000

DB x-trackers CSI 300 Materials Ucits ETF - Class 1D

932,000

DB x-trackers CSI 300 Real Estate Ucits ETF - Class 1D

1.29m

DB x-trackers CSI Transportation Ucits ETF - Class 1D

1.12m

DB x-trackers CSI 300 Utilities Ucits ETF - Class 1D

1.03m

DB x-trackers MSCI AC Asia ex-Japan High Dividend Yield Index Ucits ETF - Class 2D

1.30m

DB x-trackers MSCI Bangladesh IM Index Ucits ETF - Class 2C

1.39m

DB x-trackers MSCI EM Asia Index Ucits ETF - Class 2C

3.91m

DB x-trackers MSCI Emerging Markets Index Ucits ETF - Class 2C

8.77m

DB x-trackers MSCI India Index Ucits ETF - Class 2C

2.80m

DB x-trackers MSCI Pakistan IM Index Ucits ETF - Class 2C

2.25m

Source: Deutsche Asset Management

Before the delisting, Deutsche AM was one of the top ETF providers in Hong Kong, with 33 listings.

After the delisting the firm is left with 17 DB x-trackers ETFs available for sale in Hong Kong, according to data from HKEX. On average, the remaining ETF share classes have higher AUM compared to those that were delisted. 

Remaining DB x-tracker ETFs

ETF

AUM in Hong Kong ($)

DB x-trackers MSCI Korea Index Ucits ETF (DR)

18.21m

DB x-trackers FTSE China 50 Ucits ETF (DR)

2.35m

DB x-trackers Nifty 50 Ucits ETF

1.62m

DB x-trackers MSCI Philippines Im Index Ucits ETF (DR)

1.58m

DB x-trackers MSCI World Index Ucits ETF

14.79m

DB x-trackers MSCI Usa Index Ucits ETF

15.45m

DB x-trackers MSCI Russia Capped Index Ucits ETF

7.99m

DB x-trackers MSCI Taiwan Index Ucits ETF (DR)

4.58m

DB x-trackers MSCI Pacific Ex Japan Index Ucits ETF (DR)

1.49m

DB x-trackers MSCI Brazil Index Ucits ETF (DR)

4.2m

DB x-trackers CSI300 Ucits ETF

44.38m

DB x-trackers MSCI China Index Ucits ETF (DR)

1.4m

DB x-trackers MSCI Singapore Im Index Ucits ETF (DR)

1.5m

DB x-trackers MSCI Malaysia Index Ucits ETF (DR)

1.12m

DB x-trackers FTSE Vietnam Ucits ETF

34.32m

DB x-trackers MSCI Thailand Index Ucits ETF (DR)

2.36m

DB x-trackers MSCI Indonesia Index Ucits ETF

3.47m

Source: Hong Kong Exchange and Clearing 

Blackrock has the highest number of ETFs listed on the exchange – 36 in total, according to records from the bourse.

Other ETF providers have also been trimming their product portfolios. Samsung Asset Management announced earlier this month that it would delist four of its leveraged and inverse ETFs in Hong Kong.

Last year, 26 ETFs were delisted in Hong Kong, according to HKEX.

Visitor's Comments Add your comment

Add Your Comment

We won't publish your address

Events

FSA Alternatives Forums -- Hong Kong & Singapore 2017

Hong Kong, Tuesday 12 September

Singapore, Thursday 14 September

FSA Investment Forum Bangkok 2017

Tuesday 26 September

OTHER STORIES FROM LAST WORD...