The Asset Events

4th ETF Asia Summit

Augmented Investing - ETFs in Asia's capital Market

June 27 2018 - Taiwan

第四屆亞洲ETF峰會

增強投資——亞洲資本市場的ETF

2018年6月27日 - 台灣
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Yuanta
cathay
Yuanta
Lyxor

Asia’s ETF market ended 2017 with US$430 billion of assets under management. The pace of growth is nothing to sniff at as it has more than tripled in size over the past five years. But it still lags North America and Europe with each region accounting for US$3.4 trillion and US$757.5 billion, respectively. Indeed, excluding Japan’s US$275.8 billion ETF market, investors in the rest of Asia have only started to uncover what’s behind the surge of activity in the rest of the world. Given its modest size, ETF in Asia has still some ways to go.

But the slow and steady increase in its adoption could soon give way to more robust activity in the coming years. Regulators around the region are actively promoting the usage and offering of ETFs for domestic investors. Institutional investors in Asia are also becoming more familiar with ETFs and using them to achieve their investment objectives whether strategic or tactical. China’s opening will spur increased two-way activity with global investors looking to participate in Asia’s largest capital market while Chinese investors diversifying overseas to increase their international exposures. The launch of the ETF Connect, expected in the second half of this year, could see a bump in new ETF launches or inflows into existing ETFs that are positioned to take advantage of the easier access.

These positive factors, however, have to juxtapose against the challenges ETFs faced in the past years. Beyond markets such as Japan, South Korea, Hong Kong and Taiwan, education is critical to see more activity especially in Southeast Asia. Other headwinds include cultural investment practices and also the commission-based distribution channels that place ETFs at a disadvantage.

2017年,亞洲ETF市場資產規模在過去五年中翻了三倍,達到了4300億美元,發展之快令人矚目。但其仍落後於北美和歐洲ETF市場,北美ETF資產規模為34000億美元,歐洲則是7575億美元。事實上,日本ETF市場規模也達2758億美元之多,除日本外,亞洲其他地區的投資者才剛剛接觸到這一已在世界其他地方興起的投資方式。鑒於其規模尚小,亞洲ETF還有很長的路要走。

但是,未來幾年內,亞洲ETF投資活動可能逐漸從緩慢穩健增長進入快速增長階段。該地區的監管機構正積極推動國內投資者使用和發行ETF。亞洲的機構投資者也越來越熟悉ETF,並利用ETF實現戰略性或戰術性投資目標。中國的開放將刺激更多的雙向往來,全球投資者希望進入亞洲最大的資本市場,同時中國投資者也越發積極地參與海外投資活動。ETF互聯互通機制有望於今年下半年推出,可能增加ETF發行量或刺激更多現有ETF的資金流入,來使用這一更便捷的投資渠道。

盡管存在上述積極因素,過去幾年內ETF面臨的挑戰仍然存在。除日本、韓國、香港和台灣等市場外,投資者教育仍然是增加參與度的關鍵因素,尤其是在東南亞地區。其他不利因素包括文化因素導致的投資行為,以及以收取傭金為主的分銷渠道,在這些方面ETF都處於不利地位。

Venue
TW
Le Méridien Taipei
 
38 SongRen Road, Xinyi District Taipei
Taiwan
June 27 2018
地點
Conrad Centennial Singapore Hotel
台北寒舍艾美酒店
 
台北市信義區松仁路38號
台灣
2018年6月27日

Speakers / Agenda

08.00
Registration
09.00
Welcome remarks
Daniel Yu
Daniel Yu
Editor-in-Chief
The Asset
09.10
Asset Events Panel
Panel: Augmented Investing - ETFs in Asia’s capital markets
The industry have come a long way since the launch of the first exchange traded fund (ETF) in 1993. ETFs have been transformed from being a low cost investment vehicle to a capital market tool for asset allocation, portfolio diversification or risk management and exchanges have played an important role in this space. How can exchanges further support the development of the ETF market?
  • What initiatives have been implemented to further promote investor education?
  • How can exchanges support cross border listings?
  • What incentives are in place to support market makers and investors?
  • How can exchanges enhance liquidity for ETFs?
Mark Lee
Mark Lee
chief representative, Hong Kong office
Tokyo Stock Exchange
Bella Chiu
Bella Chiu
director, sales and client
Singapore Exchange
Pony Huang
Pony Huang
senior vice president, corporate planning & strategy department,
Taiwan Stock Exchange
Daniel Yu
Daniel Yu
Editor-in-Chief
The Asset
09.50
Asset Events Panel
In conversation: New asset classes, new themes in ETFs
As investors become more familiar with ETFs, innovative ETF products have emerged in the past few years. Such as Artificial Intelligence and Robotics ETFs, Bitcoin ETFs, and other theme-based ETFs are some the latest additions to the ETF landscape. How likely will new ETFs emerge in Asia? What are the challenges? What opportunities are available for investors?
Jimmy Yu
Jimmy Yu
senior fund manager
Cathay SITE
Janette Chen
Janette Chen
editorial analyst
The Asset
10.10
Networking and coffee
10.40
Asset Events Panel
Panel: ETF connect and access into China
The expected launch of ETF connect later this year will boost the Asian ETF market. As China further opens its financial markets, the new trading link will provide a new channel for international investors to tap into the onshore market and mainland investors to access Hong Kong listed ETFs. What should investors and ETF providers expect with this new development?
  • What does A-shares inclusion in the emerging market indices mean for investors?
  • What are the implications for investing in China?
  • How should ETF providers position themselves with the launch of ETF Connect?
Andy Chang
Andy Chang
president
Cathay SITE
Cindy Chen
Cindy Chen
head of securities services
Citi
Christy Lee
Christy Lee
vice president
Tradeweb
Grace Lee
Grace Lee
assistant vice president, index & quantitative investmentt
Yuanta Securities Investment Trust
Janette Chen
Janette Chen
editorial analyst
The Asset
11.20
Asset Events Panel
Panel: Growing affluence, new ETF channels
As investors in the region grow in sophistication, private banks and wealth managers are also looking to include ETFs as among the investment options. Commission-based distribution channels, however, have placed ETFs at a disadvantage. The emergence of fintech and robo-advisory platforms, on the other hand, might provide an answer to this challenge.
  • How can technology supplement traditional distribution channels?
  • What role do fintechs play in raising ETF awareness?
  • What are the latest trends in robo-advisory?
Don Huang
Dr Don Huang
co founder & head of quantitative research
Magnum Research Limited
Julian Liu
Julian Liu
president & chief executive officer
Yuanta SITC
Bayani Cruz
Bayani Cruz
Executive Editor
The Asset
12.00
Luncheon
13.30
Asset Events Panel
Panel: ETF solutions in asset allocation
ETFs have gained popularity as low cost investment vehicles, which provides transparent access to markets. In recent years, ETFs have transitioned into tools for implementing portfolio strategies. How are investors using ETFs for asset allocation?
  • What are the benefits of using ETFs in asset allocation?
  • What ETFs solutions are available for investors?
  • How can solutions employing ETFs enhance portfolios?
Meng Chu Lee
Meng Chu Lee
director, The Yield Book and Fixed Income Indexes
FTSE Russell
David Lai
David Lai
partner, co-chief investment officer
Premia Partners
Betty Chen
Betty Chen
vice president
Yuanta SITC
Bayani Cruz
Bayani Cruz
Executive Editor
The Asset
14.10
Asset Events Panel
In conversation: Harnessing European ETFs opportunity for Asian investors
This session examines how institutional investors in the region are increasing their international exposure via ETFs along with their perspectives on strategy and tactical allocation.
Julian Liu
Christopher Friese
head of Asia, Lyxor ETF,
Société Générale
Bayani Cruz
Bayani Cruz
Executive Editor
The Asset
14.40
Closing remarks

演講嘉賓及日程安排

08.00
登記
09.00
開幕致辭
Daniel Yu
楊韙銘
總編輯
《財資》
09.10
Asset Events Panel
小組討論:增強投資——亞洲資本市場的ETF
自1993年發行第一支交易所交易基金(ETF)以來,該行業已經歷了一段長時間的發展。ETF從低成本的投資手法轉型成為資本市場工具,用於資產配置、投資組合多樣化和風險管理,同時交易所在其中亦發揮了重要作用。對此,交易所應當如何進一步推動ETF市場的發展?
  • 已有哪些行動來進一步加強對投資者的教育?
  • 交易所應如何支持跨境ETF產品的上市?
  • 應採取哪些積極措施來支持做市商和投資者?
  • 交易所應如何提高ETF產品的流動性?
Mark Lee
李彬凌
香港辦公室首席代表
東京證券交易所
Bella Chiu
Bella Chiu
director, sales and client
Singapore Exchange
Pony Huang
黃玻莉
企劃研究部經理
台灣證券交易所
Daniel Yu
楊韙銘
總編輯
《財資》
9.50
Asset Events Panel
主題對話:ETF中新的資產類別和新的主題
隨著投資者對ETF的認識度加深,過去幾年出現了幾檔創新的ETF產品。人工智能和智慧投顧ETF,比特幣ETF和基於其他主題的ETF產品都是該領域中的最新成員。ETF新產品在亞洲將如何發展?面臨哪些挑戰?投資者有哪些機會?
Jimmy Yu
游日傑
資深基金經理
國泰投信
Janet Chen
陳霈媛
撰稿编辑
《財資》
10.10
茶歇交流時間
10.40
Asset Events Panel
小組討論:ETF互聯互通機制和進入中國市場
預計今年下半年發布的ETF互聯互通機制將助推亞洲ETF市場進一步發展。隨著中國進一步開放其金融市場,新的貿易紐帶將為國際投資者進入中國在岸市場和大陸投資者購買香港上市的ETF提供新的渠道。 投資者和ETF提供商對這一新的發展有什麽期待?
  • A股加入新興市場指數對投資者意味著什麽?
  • 在中國投資有何影響?
  • 對於ETF互聯互通機制的發布,ETF提供商應如何定位自己?
Andy Chang
張雍川
總經理
國泰投信
Cindy Chen
Cindy Chen
head of securities services
Citi
李嘉汶
李嘉汶
副總裁
Grace Lee
Grace Lee
assistant vice president, index & quantitative investmentt
Yuanta Securities Investment Trust
Janet Chen
陳霈媛
撰稿编辑
《財資》
11.20
Asset Events Panel
小組討論:財富增長,ETF新渠道
有鑑於投資者在獲得靈活性回報上更具挑戰性,私人銀行和財富管理機構正尋求更多途徑來獲取各種類型的ETF產品。基於佣金的分銷渠道正逐漸過時,而以可替代的分銷方式如獨立財務顧問(IFA)則受到歡迎。Fintech和智慧投顧平台的興起也為分銷渠道提供了更多可能性。。
  • 技術如何補充傳統的分銷渠道?
  • Fintech在提升ETF認知度方面扮演什麽角色?
  • 智慧投顧的最新趨勢是什麽?
Don Huang
Dr Don Huang
co founder & head of quantitative research
Magnum Research Limited
Julian Liu
劉宗聖
總裁和首席執行官
元大投信
Janet Chen
陳霈媛
撰稿编辑
《財資》
12.00
午宴
13.30
Asset Events Panel
小組討論:ETF解決方案,Smart-beta和主動型ETF
ETF產品已從結構簡單的獨立產品轉變為實施特定和更集中資產配置策略的投資解決方案。ETF低成本和高透明度的特點使資產配置者將其作為投資組合中的重要組成部分。
  • 投資者如何採用ETF作為優化投資組合的解決方案?
  • 機構投資者及高淨值投資者有哪些ETF解決方案可選?
  • 投資者如何將Smart-beta和主動型ETF納入投資組合?
  • 對ETF投資者而言,什麼是良好基準的指標?
Meng Chu Lee
Meng Chu Lee
director, The Yield Book and Fixed Income Indexes
FTSE Russell
賴子健
賴子健
合夥人兼聯合首席投資官,
Premia Partners
Betty Chen
Betty Chen
vice president
Yuanta SITC
Bayani Cruz
Bayani Cruz
執行編輯
《財資》
14.10
Asset Events Panel
對話:為亞洲投資者抓住歐洲ETF投資機會
本節主要內容為該地區的機構投資者如何運用ETF增加其國際範圍內的投資,以及其對戰略和戰術配置的觀點。
賴子健
Christopher Friese
Lyxor ETF亞洲區主管
法國興業銀行
Bayani Cruz
Bayani Cruz
執行編輯
《財資》
14.40
閉幕致辭

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