HuaAn Launches First-Ever European Exchange-Traded Fund in China
HuaAn Asset Management Co. Ltd. has launched the first exchange-traded fund (ETF) based on a European index in China. The HuaAn Germany DAX 30 ETF was introduced by HuaAn on 14 July 2014 and will later be listed on the Shanghai Stock Exchange.
The ETF is based on the German stock market index DAX, which measures the development of the 30 largest and most liquid companies on the German equities market and represents around 80% of the market capitalisation authorised in Germany. It currently serves as the basis for more than 135,000 financial products.
“DAX is one of the most recognised and well-known blue-chip indices in the world,” said Hartmut Graf, CEO of STOXX Limited, marketing agent for the indices of Deutsche Börse AG and SIX, including the DAX and SMI indices. “As a completely rules-based and transparent barometer of top German companies, the index remains a leading choice to underlie a wide range of financial products.”
“As one of the innovation leaders in China’s mutual fund industry, HuaAn is dedicated to product and business innovation to meet investors’ growing demand for wealth management and asset allocation,” said Li Qing, CEO of HuaAn. “We are pleased to launch the Germany DAX 30 ETF and feeder fund, which is the first mutual fund specialising on German stocks in China. This product also opens the door to invest in Germany and EU for China investors. The era of global asset allocation has come to China, and HuaAn aims to be the leading asset management company at home and abroad.”