Canada-based BMO Global Asset Management has launched three new exchange traded funds (ETFs) in Hong Kong.
The ETF strategies for Hong Kong will be developed under the leadership of managing director Amit Prakash and the firm’s Hong Kong ETF team.
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In addition, the ETF development will also be supported by the stability, size and global reach of BMO Financial Group.
The three newly launched ETFs include BMO Asia USD Investment Grade Bond ETF, BMO Hong Kong Banks ETF and BMO Asia High Dividend ETF.
The new ETFs are expected to be listed on the Main Board of The Stock Exchange of Hong Kong Limited (SEHK) on 13 November 2014.
The Investment Grade Bond ETF has been designed to provides access to a portfolio of high quality Asia bonds, while the BMO Hong Kong Banks ETF invests in banking stocks listed on SEHK and the High Dividend ETF provides exposure to more than 150 high dividend paying companies.
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By GlobalDataPrakash said: "Dividend-paying stocks offer a competitive yield and growth potential. Investors can capitalize on the rapid development of Asian capital markets and tap the growth story in the region. Both the bond and equity ETFs will pay regular dividends, allowing investors to earn income while benefiting from Asia’s continued growth.
"Our ETFs allow investors to participate in these underlying trends through products which offer long-term capital preservation and appreciation potential," added Prakash.
