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iShares announces Standard Chartered as participating dealer for its a-share ETFs
25 October 2012
Category:
News, Asia, Global
By Asset Management Management
iShares, the exchange traded fund (ETF) business of BlackRock, announced on Wednesday (October 24) the appointment of Standard Chartered as a participating dealer for its suite of A-share ETFs, extending the number of iShares participating dealers to 14. Standard Chartered has committed to participating in the iShares FTSE A50 China Index ETF (a synthetic ETF) and the iShares CSI sector funds.
Jane Leung, BlackRock’s head of iShares Asia Pacific, said: “iShares prides itself on providing a high degree of liquidity for investors. The iShares A50 China Index ETF is one of the most actively traded equities in Hong Kong, with around US$159 million of turnover a day. This market leading position is backed by more than a dozen participating dealers and the varied sources of client demand which go into supporting each iShares ETF. This iShares ecosystem, which we are delighted to have Standard Chartered join, ensures a high degree of liquidity, tight bid-offer spreads and allows on-exchange trading in large sizes.”
Ms. Leung said: “The Chinese economy, despite its foreign investment restrictions, is the second largest in the world, with growth expectations eclipsing the rate of its developed peers. Through ETFs investors are able to gain access to this important A-Share market, and Standard Chartered’s participation in the iShares suite of A-share ETFs is further evidence of local investment demand for ETFs that access China through large cap, and sector-specific funds.”
Tim Andrew, global head of cash equities at Standard Chartered Bank, said: “We are very pleased to extend our partnership with BlackRock to iShares’ innovative and professional quality ETFs. “Standard Chartered has been actively building out our equities platform. This collaboration, a testament to investor and market confidence in the bank, allows Standard Chartered to significantly deepen our equities capabilities and bring strategic benefits to our clients.”
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