Deutsche Asset & Wealth Management (DeAWM) has joined forces with Harvest Global Investments, a wholly owned subsidiary of Harvest Fund Management, to launch a new exchange-traded fund (ETF) in China.

The new ETF called, db X-trackers Harvest CSI 300 China A-Shares Fund (ASHR), will provide investors with direct equity exposure to the many Chinese sectors and companies that are available exclusively through the China A-shares market in which foreign investment has historically been limited.

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ASHR is the first US-listed ETF to offer a direct investment opportunity in China and will be listed on NYSE Arca from 6 November.

ASHR seeks to track the CSI 300 Index, which includes the 300 largest and most liquid securities trading on the Shanghai and Shenzhen Stock Exchanges.

DeAWM says that Harvest Global Investments’ status as a Renminbi Qualified Foreign Institutional Investor (RQFII) will enable it to obtain a RQFII quota on behalf of ASHR.

Henry Zhao, chairman of Harvest Global Investments, said: "ASHR will provide American investors with direct access to China A-shares with the added benefit of our depth of experience as one of the most established Chinese fund management companies.

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Martin Kremenstein, head of passive asset management for DeAWM Americas, said: "ASHR will provide American investors with direct access to a key international market for the first time, as other ETFs that seek to provide exposure to China A-shares must do so indirectly via derivatives or other instruments.