ETF Landscape: United Kingdom Industry Review - BlackRock ...

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ETF Landscape Year End 2010United Kingdom Industry Review from BlackRockFigure 4: Top 10 ETFs/ETPs listed in the United Kingdom by assets, as at year end 2010NameTickerAssets(US$ Mn)ADV(US$ Mn)2010 net flows(US$ Mn)iShares S&P 500 IUSA LN $7,905.8 $10.3 $310.6iShares MSCI Emerging Markets IEEM LN $6,821.7 $11.8 $2,687.3ETFS Physical Gold PHAU LN $5,962.5 $40.2 $1,242.0iShares FTSE 100 ISF LN $5,961.7 $38.7 -$225.4GBS Bullion Securities GBS LN $5,566.8 $17.8 $9.6iShares MSCI World IWRD LN $3,455.2 $4.0 $220.5iShares MSCI AC Far East ex-Japan IFFF LN $2,264.4 $3.4 $156.1iShares MSCI Japan IJPN LN $2,081.8 $8.7 $178.7iShares Markit iBoxx £ Corporate Bond SLXX LN $1,789.3 $11.0 $99.9iShares MSCI North America INAA LN $1,777.8 $1.5 $565.2Source: Global ETF Research and Implementation Strategy Team, BlackRock, Bloomberg.Figure 5: Top 10 ETFs/ETPs listed in the United Kingdom by average daily US dollar trading volume, as at year end 2010NameTickerADV(US$ Mn)Assets(US$ Mn)2010 net flows(US$ Mn)ETFS Physical Gold PHAU LN $40.2 $5,962.5 $1,242.0iShares FTSE 100 ISF LN $38.7 $5,961.7 -$225.4iShares MSCI Emerging Markets IDEM LN $25.7 $6,821.7 $2,687.3GBS Bullion Securities GBS LN $17.8 $5,566.8 $9.6iShares MSCI Emerging Markets IEEM LN $11.8 $6,821.7 $2,687.3iShares Markit iBoxx £ Corporate Bond SLXX LN $11.0 $1,789.3 $99.9iShares S&P 500 IUSA LN $10.3 $7,905.8 $310.6iShares MSCI Japan IJPN LN $8.7 $2,081.8 $178.7Gold Source P-ETC SGLD LN $8.5 $923.8 $599.7iShares FTSE 250 MIDD LN $8.3 $791.7 $166.1Source: Global ETF Research and Implementation Strategy Team, BlackRock, Bloomberg.Figure 6: Top 10 ETFs/ETPs listed in the United Kingdom by 2010 net inflows, as at year end 2010NameTicker2010 net flows(US$ Mn)Assets(US$ Mn)ADV(US$ Mn)iShares MSCI Emerging Markets IEEM LN $2,687.3 $6,821.7 $11.8db x-trackers MSCI Emerging Market TRN Index ETF XMEM LN $1,697.0 $6,263.3 $4.1iShares DAX® (DE) EXSE IX $1,528.0 $5,917.7 $1.6Lyxor Euro STOXX 50 MSE IX $1,419.8 $8,278.6 $0.4ETFS Physical Gold PHAU LN $1,242.0 $5,962.5 $40.2db x-trackers DAX ETF XDAX IX $1,137.3 $3,693.1 $0.2db x-trackers - DJ STOXX 600 XSX6 LN $1,056.9 $1,237.7 $0.1iShares JPMorgan $ Emerging Markets Bond Fund SEMB LN $742.9 $1,064.0 $0.7CS ETF (Lux) on MSCI Emerging Markets CM1 LN $670.3 $1,035.5 $0.1iShares Barclays Capital Euro Corporate Bond IEBC LN $619.2 $1,377.3 $0.7Source: Global ETF Research and Implementation Strategy Team, BlackRock, Bloomberg.5 This document is not an offer to buy or sell any security or to participate in any trading strategy. Please refer to important information and qualifications at the end of this material.
ETF Landscape Year End 2010United Kingdom Industry Review from BlackRockFigure 7: ETF/ETP providers with ETFs/ETPs listed in the United Kingdom, as at year end 2010Provider# uniqueETFs/ETPslisted inthe UK# UK primaryETF/ETPlistings# UK totalETF/ETPlistings# uniqueETFs/ETPslisted in theUK withUKDS# uniqueETFs/ETPslisted in theUK withUKRFAssets(US$ Mn) inprimaryETF/ETPlistingsADV(US$ Mn) inall UK listedETFs/ETPsiShares 111 96 196 70 98 $61,395.4 $275.3ETF Securities 208 195 344 19 166 $21,380.3 $174.2Societe Generale 42 42 42 - - $4,039.1 $2.4Source Markets 19 19 19 - 17 $1,936.4 $17.0Lyxor Asset Management 56 25 92 19 - $1,664.3 $10.0db x-trackers / db ETC 121 44 178 65 9 $1,519.4 $45.3HSBC/Hang Seng 12 12 20 - 10 $613.4 $13.3Marshall Wace Asset Management 3 3 3 - 3 $330.2 $0.8UBS AG 69 69 69 - - $250.8 $0.4PowerShares 16 14 16 15 15 $222.9 $1.9Osmosis Investment Management 1 1 2 1 1 $9.2 $0.0State Street Global Advisors 13 - 13 - - - $0.0Credit Suisse Asset Management 45 - 81 - 45 - $5.9XACT Fonder 8 - 8 - - - $2.2RBS 6 - 6 - 6 - $0.1ETFlab Investment 2 - 2 - - - $0.0Commerzbank 7 - 7 - - - $0.4Van Eck Associates Corp 1 - 1 - - - $0.0ProShares 8 - 8 - - - $0.0Vanguard 1 - 1 - - - $0.0Barclays (iPath) 13 - 15 - - - $1.2Merrill Lynch 2 - 2 - - - $0.0Total 764 520 1,125 189 370 $93,361.5 $550.4Note: A single ETF can be listed across multiple exchanges and countries. To avoid double counting we recognise the first listing as the ‘primary listing’. Within the listings on asingle exchange, an ETF can have multiple listings in different currencies, so again, to avoid double counting we count each different ETF once to form our ‘Unique ETFs’ total.United Kingdom Distributor Status (UKDS) and United Kingdom Reporting Fund status (UKRF) are sourced from various ETF providers and HMRC and should be checked with theETF/ETP provider before investing.Source: Global ETF Research and Implementation Strategy Team, BlackRock, Bloomberg.Figure 8: Top five ETF/ETP providers by average daily US dollar turnover, as at year end 2010ProviderADV (US$ Mn)Dec-2010% marketshareiShares $275.3 50.0%ETF Securities $174.2 31.7%db x-trackers / db ETC $45.3 8.2%Source Markets $17.0 3.1%HSBC/Hang Seng $13.3 2.4%Other $25.1 4.6%Total $550.4 100.0%iShares 50%ETF Securities 31.7%db x-trackers / db ETF 8.2%Source Markets 3.1%HSBC/Hang Seng 2.4%Other 4.6%Source: Global ETF Research and Implementation Strategy Team, BlackRock, Bloomberg.This document is not an offer to buy or sell any security or to participate in any trading strategy. Please refer to important information and qualifications at the end of this material. 6
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