Hang Seng Indexes Grants Leading China Asset Manager Yinhua Fund Management License to Use HSI SCHK Index as Underlying Index for New ETF Listed on Sh
25th June 2024 | Hong Kong
Hang Seng Indexes Company has granted leading China asset manager Yinhua Fund Management the license to use HSI SCHK Index as underlying index for a new ETF (Exchange-traded fund) listed on Shenzhen Stock Exchange (SZSE) with $29 million AUM (CNY 213 million). The HSI SCHK Index tracks the performance of Hang Seng Index constituents eligible under the Southbound Stock Connect program. At the end of 2024 May, a total $69 billion AUM of passive indexes track Hang Seng Indexes. Hang Seng Indexes Company (21/6/24): “Hang Seng Indexes Company today announced it has granted Yinhua Fund Management Co Ltd. (‘Yinhua Fund’) a license to use the HSI SCHK Index as the underlying index for a newly launched exchange-traded fund (‘ETF’). This ETF was listed on the Shenzhen Stock Exchange today (21 June 2024), with an initial assets under management (‘AUM’) totalling RMB213 million as of 14 June 2024. The HSI SCHK Index aims to reflect the performance of Hang Seng Index constituents that are eligible under the Southbound Stock Connect. The index applies industry neutral strategy that targets to achieve the same industry distribution as Hang Seng Index. During the period from 29 December 2023 to 5 June 2024, the HSI SCHK Index has recorded an impressive gain of +9.6%, which is similar to that of Hang Seng Index (+8.1%), both outperforming the broad market by 1.9%pt and 0.4%pt respectively. As the first exchange-traded product tracking the HSI SCHK Index, this new ETF marks the addition of the 117th exchange-traded product linked to an index within the Hang Seng Family of Indexes. These products are listed across 12 different stock exchanges globally. As of 31 May 2024, the AUM of all products that passively track indexes in the Hang Seng Family totalled approximately USD69 billion.”
“ Hang Seng Indexes Grants Leading China Asset Manager Yinhua Fund Management License to Use HSI SCHK Index as Underlying Index for New ETF Listed on Shenzhen Stock Exchange with $29 Million AUM, HSI SCHK Index Tracks Performance of Hang Seng Index Constituents Eligible under Southbound Stock Connect, Total $69 Billion AUM of Passive Indexes Tracking Hang Seng Indexes “
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About Hang Seng Indexes Company Limited – Hang Seng Indexes Company Limited (‘Hang Seng Indexes Company’) manages and compiles the Hang Seng Family of Indexes, which cover stocks listed in Hong Kong and Mainland China. Our index series includes the Hang Seng Index, the Hang Seng China Enterprises Index and the Hang Seng TECH Index, as well as Stock Connect, Greater Bay Area, Sustainability and sector-related indexes. As at the end of 2023, assets under management in products passively tracking indexes in the Hang Seng Family of Indexes had reached a total of about USD65.8 billion. Hang Seng Indexes Company is a wholly owned subsidiary of Hang Seng Bank.
Hang Seng Indexes Grants Leading China Asset anager Yinhua Fund Management License to Use HSI SCHK Index as Underlying Index for New ETF Listed on Shenzhen Stock Exchange with $29 Million AUM, HSI SCHK Index Tracks Performance of Hang Seng Index Constituents Eligible under Southbound Stock Connect, Total $69 Billion AUM of Passive Indexes Tracking Hang Seng Indexes
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