Listed on the main board of the Stock Exchange of Hong Kong Limited (SEHK) on April 15?W.I.S.E. SSE 50 China Tracker Fund, the first exchange-traded fund (ETF) on the Hong Kong market to track the SSE 50 Index, is the 2nd ETF offered by a market outside China's mainland that tracks the SSE 50 Index, following the Nomura SSE 50 ETF listed on the Osaka Securities Exchange. The Fund, with BOCI-Prudential Asset Management Ltd. as its fund manager and KBC Financial Products Hong Kong Limited as its participating securities dealer, raised a total of HK$0.16 billion through an initial public offering on April 9.
Consisting of 50 stocks boasting large scale and high liquidity on the Shanghai securities market, the SSE 50 index, one of the best-known stock benchmarks on China’s mainland market, reflects from every aspect the overall conditions of the leading enterprises that are most influential on the market.
"Hong Kong is among the most active ETF markets in Asia. We will make continuous efforts in developing our ETF market by introducing a greater variety of high-quality products," said Miss Zhang Zhuohua (Alexa Lam), Executive Director and Deputy Chief Executive Officer of the Securities and Futures Commission (SFC), at the listing ceremony.
"With China's sustained economic growth, it is a big opportunity for the international market to invest more in China's A shares. We believe that the W.I.S.E. SSE 50 ETF will be an instrument for both Hong Kong and overseas investors to share the fruits of China's economic growth with an easy access to investment in the core enterprises on the A shares market in Shanghai,"said Mr. Mak tat cheung, Chief Executive Officer of BOCI-Prudential Asset Management Ltd., at the ceremony.
"Thanks to the relatively stable and sound fundamentals of the mainland's economy as well as a series of economic stimuli and revival plans and measures implemented by the government, the mainland economy is expected to take the lead, in the near future, to walk out of the shadow of the global financial crisis and achieve economic recovery. We believe that it is a practical and forward-looking choice for us to provide Hong-Kong-market-based investors with more products that are related to the mainland market,” said Ma Zhigang, General Manager of China Securities Index Co., Ltd.
W.I.S.E. SSE 50 ETF opened at HK$20 and closed at HK$20.20, with the volume of 5,053,100 shares and the turnover of HK$ 101.155 million, on April 15, the first trading day.
