When someone shares with you something of value, you have an obligation to share it with others.
Monday, 30 November 2009
United SSE 50 China ETF lists today
Singapore’s first China A-shares exchange-traded fund (ETF) will be listed today, with a change in the tracking index, issuers UOB Asset Management (UOBAM) and China Securities Index said yesterday.
Singapore’s first China A-shares exchange-traded fund (ETF) will be listed today, with a change in the tracking index, issuers UOB Asset Management (UOBAM) and China Securities Index said yesterday.
Investors who decided to redeem their units and pull out of the fund accounted for less than 6.5 per cent of the initial fund size of $83.5 million, they added.
The United SSE 50 China ETF - which had assets under management of $76.8 million as at Tuesday - will track the Shanghai Stock Exchange 50 Index, which comprises the 50 largest stocks of good liquidity listed on the exchange.
This replaces the FTSE/Xinhua China A50 Index the fund was initially meant to track. The latter index is made up of 50 of the largest Chinese stocks, mainly financials and industrials. Its biggest component stock is Ping An Insurance, followed by state-owned banks.
UOBAM offered investors the choice to remain invested in the ETF or redeem their units by noon yesterday at the initial offer price of $2.50 or the prevailing net asset value per unit at the time of redemption, whichever is higher.
‘The redemption rate of less than 6.5 per cent of the initial fund size is a testament of the high level of confidence that investors have in UOBAM and the United SSE 50 China ETF,’ said Chong Jiun Yeh, executive director of UOBAM.
‘It is also an indication of investors’ strong appetite for exposure to the China A-Shares market.’
1 comment:
United SSE 50 China ETF lists today
By JAMIE LEE
26 November 2009
Singapore’s first China A-shares exchange-traded fund (ETF) will be listed today, with a change in the tracking index, issuers UOB Asset Management (UOBAM) and China Securities Index said yesterday.
Investors who decided to redeem their units and pull out of the fund accounted for less than 6.5 per cent of the initial fund size of $83.5 million, they added.
The United SSE 50 China ETF - which had assets under management of $76.8 million as at Tuesday - will track the Shanghai Stock Exchange 50 Index, which comprises the 50 largest stocks of good liquidity listed on the exchange.
This replaces the FTSE/Xinhua China A50 Index the fund was initially meant to track. The latter index is made up of 50 of the largest Chinese stocks, mainly financials and industrials. Its biggest component stock is Ping An Insurance, followed by state-owned banks.
UOBAM offered investors the choice to remain invested in the ETF or redeem their units by noon yesterday at the initial offer price of $2.50 or the prevailing net asset value per unit at the time of redemption, whichever is higher.
‘The redemption rate of less than 6.5 per cent of the initial fund size is a testament of the high level of confidence that investors have in UOBAM and the United SSE 50 China ETF,’ said Chong Jiun Yeh, executive director of UOBAM.
‘It is also an indication of investors’ strong appetite for exposure to the China A-Shares market.’
Post a Comment