KUALA LUMPUR, July 15 (Bernama) -- CSOP Asset Management Limited, an exchange-traded fund (ETF) issuer in Hong Kong is set to list CSOP Huatai-PineBridge CSI 300 ETF (3133.HK) on the Hong Kong Stock Exchange on July 16.
In seeking to achieve its investment objective, 3133.HK will invest at least 90 per cent of its net asset value (NAV) in the Huatai-PineBridge CSI 300 Exchange-traded Open-end Index Securities Investment Fund (Master ETF) via the Qualified Foreign Investor (QFI) status granted to the manager and/or the Shanghai-Hong Kong Stock Connect.
According to a statement, with a listing price of approximately HKD 7.8 per unit, board lot of 100 units, 3133.HK has received an initial investment of 51.1 million Chinese yuan. (100 Chinese yuan = RM64.32)
“As a widely recognised fund management company, we are delighted to offer Hong Kong investors the opportunity to invest in top-quality assets in China. CSOP Huatai-PineBridge CSI 300 ETF, which tracks the world's largest CSI 300 ETF, is the optimal solution for investing in China A-share.
“CSOP is dedicated to continuous innovation and remains committed to providing our clients with valuable and distinctive ETF products,” said CSOP Asset Management Chief Executive Officer, Ding Chen.
At the beginning of 2024, a slew of foreign financial institutions are bullish on the Chinese stock market and have upgraded their ratings, while the northbound fund flows have been positive for three months in a row since February, hitting a new record high in April, indicating strong overseas investment interest in A-share.
The CSI 300 Index (Index) serves as a benchmark for China's A-share stock market, tracking 300 largest and most liquid companies in China's A-share stock market to comprehensively reflect overall market performance.
The median return on equity (ROE) range of the Index has consistently exceeded 10 per cent over an extended period. Currently, the Index constituents are well-balanced across cyclical industries, technology, large financials, and consumer sectors.
-- BERNAMA
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