Hong Kong-based CSOP Asset Management has listed an exchange-traded fund tracking the benchmark Hang Seng Index, its 28th passive fund in the city.
CSOP, the international unit of Shenzhen-based China Southern Asset Management, began to launch ETFs in 2012. Half of its 28 ETFs are leveraged and inverse funds.
The new CSOP Hang Seng Index ETF “will enable global investors to grasp the investment opportunities brought by the largest and most liquid stocks” on the main board of the Hong Kong bourse, the company says in a statement at the fund’s launch on May 6.
There are several other ETFs that track the benchmark index, including the largest, the Tracker Fund of Hong Kong, managed by State Street Global Advisors Asia. These ETFs had combined assets of HK$143.2 billion (US$18.35 billion) as of March.
CSOP had more than $10 billion of total assets as of March 2021.
