Solactive is pleased to expand its collaboration with CSOP Asset Management Limited. The CSOP MAG Seven ETF aims to track the Solactive Magnificent Seven Index, offering investors direct access to seven of the largest and most influential U.S. technology companies – Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia, and Tesla – each of which has established itself as a leader in innovation, digital transformation, and technological advancements.
The U.S. tech sector, particularly represented by the “Magnificent Seven,” continues to drive the stock market through its cutting-edge innovations and global influence. These industry leaders, spanning areas like AI, cloud computing, and electric vehicles, have demonstrated resilience and high returns, even during market volatility. Nvidia’s dominance in AI hardware and Microsoft’s growth through AI-driven cloud services reflect the critical role technology plays in shaping the future of industries.[1] With their innovative capacity and strong financial performance, these companies contribute significantly to the overall performance of the U.S. economy, with their stocks forming a substantial portion of major indices like the Solactive GBS United States 500 Index.
The Solactive Magnificent Seven Index offers equal-weighted exposure to these seven companies, with each stock comprising approximately 14.29% of the index. This balanced approach ensures that no single company disproportionately impacts overall performance. Quarterly rebalancing maintains equal weighting, thereby reducing concentration risk and offering diversified access to the market’s most influential tech giants.
The ETF listed on 6 November 2024 on the Hong Kong Stock Exchange with the ticker code 3454.HK.
Timo Pfeiffer, Chief Markets Officer at Solactive, commented: “We are delighted to collaborate with CSOP Asset Management on this exciting ETF launch, which represents the first ETF in Hong Kong with only seven constituents. The Solactive Magnificent Seven Index is a perfect example of how we combine our expertise in technology and customization to provide clients with quick and effective implementation, allowing investors to gain exposure to the top U.S. tech companies in an accessible way.”
Ding Chen, CEO of CSOP, commented: “We are delighted to introduce the CSOP MAG Seven ETF (3454.HK) to the Hong Kong market in collaboration with Solactive. I believe CSOP MAG Seven ETF will offer investors opportunities to benefit from the performance of the leading US technology companies in this promising market. We look forward to launching more ETFs through our partnership with Solactive in the future.”
[1] What Are The Magnificent Seven Stocks?
