GUANGZHOU, China, July 18,
2024 /PRNewswire/ -- On July
12th, it was announced that 91 additional ETFs
will be added to the Mainland China-Hong Kong ETF Connect Program,
which will take effect on July
22nd. This expansion brings the total number of
ETFs in the program to 241, with 19 of them being managed by E Fund
Management ("E Fund"), the largest fund manager in China. In meantime, a significant increase in
foreign investors' demand for tech investment opportunities was
observed, with the electronics sector being the most popular – the
northbound fund inflows into the sector reached US$1.58 billion in the second quarter.
After the expansion, offshore investors with interests in tech
innovation can leverage enriched investment tools – more than 20
thematic ETFs, including three from E Fund, namely E Fund CSI
Artificial Intelligence Thematic ETF (Code: 159819), E Fund CSI
Cloud Computing & Big Data Index ETF (Code:516510), and E Fund
CSI Technology 50 Index ETF (Code:159807).
The CSI Technology 50 index offers exposure to 50 large
companies listed on both the Shanghai and Shenzhen Stock Exchange, with 59%
of its shares in information technology and communication services
sectors. The other two indexes aim to track different segments
along the AI value chain in China,
consisting of infrastructure, models and platforms, applications
and services.
While the CSI Artificial Intelligence Index covers the entire AI
value chain, with computers, electronics, and communication
equipment and technical services industries as the top three, the
CSI Cloud Computing & Big Data Index focuses on upstream
computing devices and downstream applications, with over 50%
exposure to the computers industry.
Among the ETFs tracking these indexes, E Fund CSI Artificial
Intelligence Thematic ETF and E Fund CSI Cloud Computing & Big
Data Index ETF are the largest of their kind, with a net asset of
US$798 million and US$153 million, respectively, as of July 15th.
About E Fund
Established in 2001, E Fund Management Co., Ltd. ("E Fund") is a
leading comprehensive fund manager in China with close to RMB
3.3 trillion (US$ 454 billion)
under management. It offers investment solutions to onshore and
offshore clients, helping clients achieve long-term sustainable
investment performances. E Fund's clients include both individuals
and institutions, ranging from central banks, sovereign wealth
funds, social security funds, pension funds, insurance and
reinsurance companies, to corporates and banks. It is a pioneer and
leading practitioner in responsible investments in China and is widely recognized as one of the
most trusted and outstanding Chinese asset managers.
Note: As at Jun 30, 2024. AuM
includes subsidiaries. Source: PBoC, Wind.
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SOURCE E Fund Management