Anyone know why there are so few investors from Asia? Asian-based investors make up 4% of the DAX and at least 3.5% of that is sovereign wealth funds. For context Norway’s SWF alone holds more than 4% of the DAX.
While Vanguard and Blackrock own a big chunk of the DAX, what this presentation does not show is for whom do Vanguard, Blackrock, et. al manage these assets for?
Is this just Germans buying American products that require American investors to buy German stocks?
The surplus exists only because the biggest digital companies (Google, MS, IBM, FB, ...) are not counted for in the USA-German trade balance.
Do these transactions result in uncounted dollars flowing back to the U.S.?
Yes, but not directly. Unless you count that all those profits are actually trade surplus with Ireland, Luxembourg and other tax heavens, and not with Germany, France and other countries where those "digital goods and services" are sold.
The biggest US digital/tech companies aren't remotely coming close to having enough unaccounted for business in Germany that could fill in $67 billion.
Lyxor is often cheaper. By Lyxor buying Comstage and Amundi buying Lyxor, there is a big European champion now.
The older ones are swap-based, the new ones are not. iShares has the biggest offering. Lyxor and Xtrackers are often cheaper for very popular indices. Vanguard is just entering the market.
I think it is a very healthy competition and TERs are constantly going down.
[1] https://www.justetf.com/de-en/find-etf.html?groupField=none&...