Mirae Asset Lists ETF Investing in Chinese New Growth Companies
Investment Focused on Tech Companies... Cultural Gift Certificate Giveaway Event Also Held
[Asia Economy Reporter Minwoo Lee] Mirae Asset Global Investments is launching an exchange-traded fund (ETF) that invests in representative companies of China's new growth industries.
Mirae Asset Global Investments announced on the 16th that it will list the 'TIGER China Hang Seng Tech ETF.'
The 'TIGER China Hang Seng Tech ETF' is a product that invests in innovative companies representing new growth industries among mainland Chinese companies listed on the Hong Kong market. It invests in leading Chinese technology companies such as Alibaba and Tencent, which generate profits based on core technologies in growth industries and lead innovation through active research and development.
The Hang Seng TECH Index is used as the underlying index. The Hang Seng Tech Index has an IT sector weighting of about half. This contrasts with the Hang Seng Index, composed of 50 large-cap stocks in the Hong Kong market where financial stocks make up half, and the CSI300 Index, which includes the top 300 mainland China A-shares and also has the highest weighting in the financial sector.
The constituent stocks belong to the IT, consumer discretionary, industrials, financials, and healthcare sectors, including companies in cloud, digital, e-commerce, fintech, and internet industries. It consists of the top 30 companies by market capitalization that meet liquidity requirements and are either internet and mobile platform technology companies or companies with R&D investment exceeding 5% of sales or an annual sales growth rate exceeding 10%. Quarterly rebalancing is conducted to adjust weights, and a full replication strategy is employed to ensure the ETF's volatility closely tracks the underlying index. No separate currency hedging is performed.
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A listing commemorative event is also being held. Through KB Securities, it runs until January 29 next year, and among customers who trade ETFs worth more than 300 million KRW daily, the top 10 will receive a 50,000 KRW cultural gift certificate.
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