Japan’s Nikko Asset Management and E Fund Management, China’s largest mutual fund manager, have launched the first currency hedged exchange-traded fund in Singapore.
The Amova E Fund ChiNext Index ETF tracks performance of the ChiNext Total Return Index, allowing investors to invest in innovative and growth oriented firms listed on the ChiNext board of the Shenzhen bourse, the Japanese asset manager says in a statement on July 22, when the fund was listed on the Singapore Exchange.
According to Phillip Yeo, global head of ETF business at Nikko, the ETF will be “constructive for investors interested in the revaluation potential of China’s real economy innovators, as the country pivots towards an innovation-led future”.
Nikko managed US$233.9 billion of assets as of end-March. The company will be rebranded as Amova Asset Management in September.
E Fund managed $512 billion of assets as of end-June.
