Published On: Fri, Sep 21st, 2012

DAX Licensed to Hua An Asset Management to Underlie Exchange-Traded Fund in China

DAX licensed to Hua An Asset Management to underlie exchange-traded fund in China Hua An DAX ETF will be the first ETF based on German blue-chip index available in China

Deutsche Börse announced September 20 that the DAX index has been licensed to Hua An Asset Management Co. Ltd., one of the longest running fund management companies in China, to serve as the basis for an exchange-traded fund (ETF). This is the first time that DAX will underlie an ETF available in China. The CEOs of STOXX Limited and Hua An Asset Management gathered at an official signing ceremony in Shanghai today to mark this occasion.

STOXX Ltd. is the marketing agent for the indices of Deutsche Börse AG and SIX, including the DAX and SMI indices. The firm has recently increased its presence in Asia with the launch of several indices for the region, such as the STOXX Asia Indices and the STOXX China Indices for A-, B- and H-shares, as well as Red Chips.

“As the unique and reliable measure of Germany’s leading companies, DAX continues to be a popular underlying for index-based financial products,” said Hartmut Graf, chief executive officer, STOXX Limited. “The new ETF by Hua An Asset Management is a major step in providing Chinese investors direct access to the DAX index for the first time.”

Li Qing, CEO of Hua An Asset Management, said, “The DAX index is one of the

most well-known flagship indices in the European market. Its constituent stocks include BMW, Volkswagen, Bayer, Siemens and other world-renowned German companies. Our new cross-border ETF is an important means for Hua An to integrate into the international capital market and develop its overseas investment business. They will help to speed up its transformation from a Chinese fund company to a modern asset management institution.”

About the Author

-

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

IRP Journal

IRP Journal

Sponsor

OPINION POLL

Poll results are published in our Weekly Newsletter -->
subscribe
All Rights Reserved WIld Wild Web Limited