Deutsche AM terminates 16 Hong Kong ETFs

Added 17th July 2017

Deutsche Asset Management is delisting 16 ETFs in Hong Kong, cutting the number of exchange-traded funds it has listed in the special administrative region in half, according to data from the Hong Kong Exchange and Clearing.

Deutsche AM terminates 16 Hong Kong ETFs

The 16 DB x-trackers ETFs are Ucits funds registered in Luxembourg.

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

The firm is withdrawing all 16 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.

Considering assets

Deutsche AM said 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 HK$1m-HK$3m (£0.29m, $0.38m, €0.34m) 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.

Our siste publication Fund Selector Asia 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.

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