Deutsche Asset & Wealth Management (DeAWM) has joined forces with Harvest Global Investments to launch Europe’s first physically-backed exchange traded fund (ETF) tracking China’s CSI300 ‘A-shares’ Index.
The new ETF called the db X-trackers Harvest CSI 300 Index UCITS ETF (DR) will be listed on the London Stock Exchange and the Deutsche Börse on January 16.
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The fund is the first Ucits-compliant, direct replication, China A-shares fund and follows the listing of a similar db-x vehicle in New York in November.
The CSI300 Index will track the performance of the 300 major and most liquid A-shares stocks.
Additionally, the new offering will also appeal to extra segments of the investor base, and will be the first addition to DeAWM’s physical replication ETFs.
Reinhard Bellet, DeAWM passive asset management head, said: "Providing investors with the first European direct investment ETF on China’s key A-shares equity benchmark is a major achievement, and can be seen as a significant step in opening up the world’s second largest economy to European investors."
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By GlobalDataChoy Peng Wah, CEO of Harvest Global Investments, said: "The listing of our physical replication ETF tracking the CSI300 Index in the US has been rightly seen as ground breaking, and we are pleased to follow this up by bringing this opportunity to European investors under the UCITS regime."
