China AMC to launch first cross-border ETF
17 October 2012
News, Asia, China, Hong Kong
By Hui Ching-hoo
China AMC’s first cross-border exchange traded fund (ETF), the China AMC Hang Seng ETF, is scheduled to launch on October 22. The product has been designed to mirror the performance of Hong Kong’s Hang Seng Index, the firm announced on Wednesday (October 17).
The Bank of China has been appointed as the custodian for the ETF. Investors will be able to purchase and redeem the product in China’s secondary market through 19 designated securities brokerages.
China AMC and E Fund were the first batch of Mainland fund managers permitted by the China Securities Regulatory Commission (CSRC) to launch cross border ETFs and received quotas earlier this year of US$2.5 billion and $1.8 billion, respectively. The E Fund Hang Seng China Enterprises Index ETF will track the Hang Seng China Enterprises Index when it is introduced.
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