China AMC launches ETF with MSCI index

Shanghai Stock Exchange buildingChina Asset Management Co (China AMC), which with $50 billion under management is one of China's largest asset managers, will list an exchange-traded fund (ETF) based on an index of China A shares fromMSCI on the Shanghai Stock Exchange in March. The ETF will track the MSCI China A Index, which has so far been used by international buyers of Chinese shares, which access the mainland market under qualified foreign institutional investor (QFII) quotas. MSCI says the ETF will be the first listed in mainland China that uses an index from an international firm. "The MSCI China A Index is the benchmark for a number of QFII funds used by international investors to invest in China, and we are sure that China based investors will also see value in its broad and diversified coverage," says Theodore Niggli, head of MSCI's Index business in Asia Pacific. The index aims to cover 85% of free float market capitalisation and contained 523 constituents at the end of 2014. China AMC launched the first ETF in mainland China in 2005. ©2015 fund global asia

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