E Fund Management, the Hong Kong subsidiary of E Fund Management, has launched the E Fund CES China 120 Index ETF on the Hong Kong Stock Exchange.
The RQFII ETF, which is a passively managed and cross-border ETF, will track A-shares, H-share stocks listed in Hong Kong, Shanghai or Shenzhen as well as completely replicates and invests its assets proportionately in the 120 stocks underlying the CES China 120 Index ‘China 120’.
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The ETF will reduce tracking error and mirrors the stock index futures (China 120 Futures) to offer efficient hedging strategies over position-related risks.
Aiming to offer investment return that corresponds to the performance of China 120, the E Fund CES 120 ETF will boost the cooperation of stock exchanges in Hong Kong and mainland markets.
Apart from resolving issues raised by different clearing systems in A-share and H-share markets, it also works out the exchange problem for investors holding both RMB and HKD currencies.
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