ICBC Credit Suisse backs latest China index with ETF launch

Chinese indicesICBC Credit Suisse Asset Management is to launch an exchange-traded fund (ETF) based on a newly launched China index from S&P Dow Jones Indices (SPDJI). The S&P China 500 Index covers all Chinese share classes including A-shares and offshore listings in Hong Kong and the US and represents the broader sectors in the country’s economy. SPDJI) says the headline index is designed to “capture a complete China story” and expect it to become a flagship investable index for China. It contains 500 of the largest, most liquid Chinese companies while approximating the sector composition of the broader equity market. SPDJI says that, compared with other China indices, its benchmark features “enhanced sector diversification thanks to a stock selection process that targets sector weights of the broad index universe”. Richard Tang, chief executive at ICBC Credit Suisse Asset Management (International), says: “We expect that the constructive results brought by our collaboration will significantly benefit international investment community that is increasingly looking to include China in their portfolios more meaningfully and efficiently.” ©2015 funds europe

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