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Etfexpress Global Awards 2013

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Etfexpress Global Awards 2013 www.etfexpress.com special report March 2013 etfexpress Global Awards 2013 Coverline 1 Coverline 2 Coverline 3 LYXOR ETF 4 OF THE BEST PERFORMERS ON MAJOR EQUITY INDICES IN 2012 THE POWER TO PERFORM IN ANY MARKET ALTERNATIVE INVESTMENTS l ETFs & INDEXING l MUTI-ASSET INVESTMENTS l STRUCTURED INVESTMENTS Always committed to the highest quality standards, four of » RANKING #1 - LYXOR ETF MSCI EMERGING MARKETS Lyxor’s major equity ETFs delivered the best performance versus their benchmark index in 2012*. This proves that not » RANKING #1 - LYXOR ETF MSCI USA all ETFs tracking the same benchmark index perform the same. The outperformance of these ETFs demonstrates » RANKING #1 - LYXOR ETF EURO STOXX 50 Lyxor’s ability to manage each fund efficiently in order to offer the best returns whilst at the same time minimising tracking » RANKING #1 - LYXOR ETF FTSE 100 errors. Behind our commitment to performance is a pledge to the highest quality standards, which runs through every RISKS - Investors’ capital is at risk. Investors should not deal aspect of our range, giving Lyxor ETFs the power to perform in these products unless they understand their nature and in any market. the extent of their exposure to risk. The index tracked by a Lyxor ETF may be volatile. Through Lyxor ETFs, investors are exposed to counterparty risks resulting from the use of an OTC (Over-the-Counter) swap with Societe Generale. Discover more at lyxoretf.com or email [email protected] THIS COMMUNICATION IS FOR PROFESSIONAL CLIENTS ONLY AND IS NOT DIRECTED AT RETAIL CLIENTS. Lyxor ETFs are open-ended mutual investment funds established under French Law or Luxembourg Law. This advert is issued in the UK by Lyxor Asset Management UK LLP (Lyxor UK), which is authorized and regulated by Financial Services Authority. *Rankings are based on peer group analysis. One peer group was created for each benchmark index. Each peer group included the 5 largest ETF Share Classes from the Top 20 ETF providers as defined by ETFGI, an independent research and consultancy firm. The 5 largest ETF Share Classes were defined according to the average daily Assets Under Management observed between 30 December 2011 and 31 December 2012. The performance of each ETF was determined by the change in Net Asset Value (NAV) from the last official NAV of 2011 and the last official NAV for 2012. CONTENTS In this issue… 04 etfexpress Global Awards 2013 results 05 Winners prove that innovation is alive and well By James Williams 07 PIMCO Best Fixed Income (excluding cash) ETF Manager 09 Lyxor Asset Management Best Emerging Markets Equity ETF Manager 13 UBS Global Asset Management Best Europe Equity ETF Manager 14 Source Best Alternative ETF Manager, Most Innovative European ETF Provider & Most Innovative North American ETP Provider 15 State Street Global Services AWARDS 2013 Best North American ETF Administrator 16 STOXX Most Innovative Index Provider 18 Northern Trust Best European ETF Administrator 19 Flow Traders Best European & Asia Pacific Market Maker Publisher Editor: James Williams, [email protected] Sales Managers: Simon Broch, [email protected]; Malcolm Dunn, [email protected] Head of Events: Katie Gopal, [email protected] Chief Operating Officer: Oliver Bradley, [email protected] Chairman & Publisher: Sunil Gopalan, [email protected] Graphic Design: Siobhan Brownlow, [email protected] Photographs: William Scott Published by: GFM Ltd, 1st Floor, Liberation Station, St Helier, Jersey JE2 3AS, Channel Islands Tel: +44 (0)1534 719780 Website: www.globalfundmedia.com ©Copyright 2013 GFM Ltd. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the publisher. etfexpress GLOBAL AWARDS Special Report Mar 2013 www.etfexpress.com | 3 RESULTS AWARDS 2013 The winners Best Commodity ETP Manager Best Currency ETF Manager Best European Exchange for ETF Securities db x-trackers Listing ETFs London Stock Exchange Best Commodity ETF Manager Best Mixed ETF Manager (Asia) ThinkCapital Asset Management B.V. Most Innovative Index Provider Mitsubishi UFJ Trust & Banking Corp STOXX Best Alternative ETF Manager Best Fixed Income (all excluding Source Best ETF Research Provider cash) ETF Manager ETFGI PIMCO Source Most Innovative North American ETF Provider Best North American ETF Best Fixed Income – cash (money IndexIQ Administrator market) ETF Manager State Street Amundi Most Innovative European ETF Provider Best European ETF Best North America Equity ETF Source Administrator Manager Northern Trust International Fund Vanguard Most Innovative North American Administration Services ETP Provider Best Europe Equity ETF Manager Source Best European Market-Maker UBS Flow Traders Most Innovative European ETP Best Emerging Markets Equity Provider Best North American Market- ETF Manager Boost ETP Maker Lyxor Asset Management Knight ETF Trading Most Innovative North American Best Global (ex-US) Equity ETF ETN Provider Best Asia-Pacific Market-Maker Manager iPath Flow Traders iShares Best North American Exchange Best Global Equity ETF Manager for Listing ETFs iShares NYSE Euronext Best Asia Pacific Equity ETF Best Asian Exchange for Listing Manager ETFs Nikko Asset Management & Co Hong Kong Stock Exchange etfexpress GLOBAL AWARDS Special Report Mar 2013 www.etfexpress.com | 4 THE ETF INDUSTRY TODAY Winners prove that innovation is alive and well By James Williams As the winners demonstrated at the So anyone who doubts the importance of etfexpress Global Awards 2013 presentation, the ETF market is somewhat in denial. Factor sponsored by Lyxor Asset Management and in that there remains huge growth potential held in London’s Mayfair last month, the in Europe – with the US having led the way global ETF market continues to grow from for the last 20 years – and there’s a lot to be strength to strength. excited about for ETF providers. Year-on-year (through November 2012, Indeed, 2013 looks to be continuing in the based on ETFGI’s global ETF and ETP same vein as 2012. According to the latest insights report), the number of ETFs ETFGI report, ETFs and ETPs posted net increased from 3,025 to 3,336. Total ETF/ETP inflows of USD11.4billion globally in February. assets also increased, from USD1.526trillion The biggest recipients were Equity ETPs, to USD1.688trillion. attracting inflows of USD11.6billion: a clear Sunil Gopalan, etfexpress Publisher, notes: signal that investors have rediscovered “At this rate, the ETF market will rival hedge their risk appetite. Fixed income ETPs, by funds; even though total hedge fund assets comparison, attracted a mere USD1.3billion, reached USD2.25trillion in 2012, hedge fund while commodity ETPs – always a tricky assets have not gained significant traction asset class for investors – suffered net post-08.” outflows of USD4.9billion. Year-to-date 10 etfexpress GLOBAL AWARDS Special Report Mar 2013 www.etfexpress.com | 5 PIMCO PIMCO Best Fixed Income (excluding cash) ETF Manager Currently, PIMCO has seven fixed income markets in its Global Advantage Bond Index, ETFs on the PIMCO Source ETF platform. relative to the Barclays Global Aggregate Four of these are “smart passive” ETFs. The Bond Index. other three are actively managed ETFs. “Over the last few years the behaviour “When we launch an ETF we want to of bonds from peripheral Europe have acted make sure that it’s one that adds value to a more like credit risk, whereas bonds from client’s portfolio and we can do that in two EM countries like Brazil have acted more ways: through a smart passive ETF, where like interest rate risk. As a consequence, the benchmark index is designed to be investors are increasingly drawn to EM. In smarter than traditional indices and offers our emerging markets local currency bond smarter index replication based on economic Howard Chan, ETF Portfolio index, we’ve added countries like China and risk factors and a forward-looking approach, Specialist at PIMCO India, which are large drivers of EM growth, or through an active ETF where we but typically excluded from EM local indices,” outright add value to the portfolio,” explains says Chan.Another example of adding Howard Chan, ETF Portfolio Specialist “smart beta” relates to PIMCO’s short-term at PIMCO. high yield ETF. Here, the aim is to provide One of the fundamental flaws of fixed exposure to the high yield market whilst income indices, says Chan, is that they are trying to minimise duration risk. largely market cap-weighted. To passively Consequently, the benchmark index only track such an index, an investor essentially looks at the “zero to five-year part of the lends capital in proportion to a borrower’s market”, says Chan. In addition, a rigorous level of debt; the more debt, the more lent. screening for companies whose viability “Lending officers do not lend based on is in serious question, aims to reduce the how much debt you have outstanding. They potential for capital loss in clients’ portfolios lend based on income. We tried to find a and better meet investment objectives methodology that reflects that in the market. through security selection. What we came up with was the GDP- PIMCO’s short maturity series of active weighted index, where you lend based upon ETFs – spanning USD, GBP and EUR – national income, versus the amount of debt focuses on cash management. In today’s outstanding a particular country has. pernicious low interest rate environment, “Rather than a debt-weighted approach, PIMCO is helping its clients to add a little we use an income-weighted approach.” extra return on cash that they don’t need PIMCO offers a series of three GDP- immediate access to. weighted indices: Global Advantage Bond “A typical benchmark for EUR cash returns Index, Global Advantage Government Bond is EONIA, which returned 0.23% during 2012.
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