Mirae debuts new China and ESG-themed ETFs

ETF_screenHong Kong-based Mirae Asset Global Investments has launched three new ETFs with a China and ESG focus. Released as part of the ‘Global X’ brand, the thematic ETFs are the first listed products to be launched under Hong Kong’s new open-ended fund companies  (OFC) regime. The new framework allows investment funds to be established in corporate form in Hong Kong as well as the more common unit trust form. Global X China Consumer Brand ETF, Global X China Electric Vehicle ETF and Global X China Clean Energy ETF will offer investors direct exposure to these respective themes which Mirae describes as “enjoying long-term strong growth and development in China”. The ETFs will be traded on the Hong Kong Stock Exchange in both HK and US dollars. They follow the 2019 launch of the Global X China Biotech ETF and Global X China Cloud Computing ETF. “The consumer and environment are set to be the major defining stories for China as we enter the 2020s,” said Wanyoun Cho, Mirae’s head of Asia ETFs. “Companies in the consumer, electric vehicles and clean energy space are enjoying the coattails of a growing economy, increasingly affluent population and government support. The new ETFs provide broad coverage to these dynamic and fast-shifting investment ideas.” ©2020 funds global asia

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