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BOC Prudential's world's first stock ETF is listed today









Rank: 9Rank: 9Rank: 9

发表于 2018-9-12 16:59:29 | 显示全部楼层 |阅读模式
BOC Prudential is the world's first exchange-traded fund (ETF) to track the performance of Hong Kong and US-listed new Chinese stocks. The Nasdaq China New Economics Overseas 50 Index Fund (Biaozhi New Economy 50) (3182.HK) ) Listed on the Stock Exchange on Wednesday to provide long-term economic growth drivers with returns.

The Nasdaq China New Economics Overseas 50 Index, which is tracked by the Smart New Economy 50, covers 50 of China's largest market capitalization companies for consumer goods, health care, consumer services or technology. The main constituents include Alibaba (BABA.N) and Baidu (BABA.N). BIDU.O), Tencent (0700.HK), Jingdong (JD.O), NetEase NTSE.O and Shenzhou International (2313.HK). Since its launch in March this year, the index has fallen by nearly 30%.

Mei Yongqing, vice president of quantitative investment department of BOC Prudential, said at the press conference that the long-term direction of China's economic transformation is driven by technology, which will lead to an increase in employment opportunities and national income. This trend will continue to accelerate and be reflected here. The four major sections covered by the ETF. However, he did not comment on the initial market reaction of the ETF.

"Our view is that the trade war will not lead to a global economic recession, but only affects the investment climate. Therefore, we are very confident about the accelerated development of the four major sectors and the direction of economic growth," he said.

BOC Prudential is the investment bank branch of Bank of China (3988.HK) (601988.SS) - Hong Kong Asset Management Co., Ltd., a joint venture between BOC International and PRU.L (2378.HK). They are 64% and 36% respectively.
Xie Yikang, head of the Asia-Pacific region of the Nasdaq Index Service, said that due to the trade war, all Chinese stocks have double-digit adjustment from the beginning of the year, but he believes that the sector that can lead the market back on track is still more than a new economy. The traditional industry, coupled with the ETF's concept of a pioneer, can occupy a more favorable position in the market.

The number of units traded in the S&P New Economy 50 is 100. The initial issue price is HK$10 per unit. The annual recurrent expenditure ratio is estimated at 0.6%. BOC Prudential is a fund manager and listed agent, China Merchants Securities and Citigroup are participating securities dealers.


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