Guotai Asset Management has received approval from the China Securities Regulatory Commission (CSRC) to launch China’s first cross-listed exchange-traded fund (ETF).
The Guotai NASDAQ 100 ETF, which tracks the benchmark NASDAQ 100 Index, is set to be listed on the Shanghai Stock Exchange, said Cui Tao, portfolio manager of Guotai Asset Management, at the second ETF roundtable in China organised by Asia Asset Management. The firm is, however, yet to reveal a concrete timetable.
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Guotai Asset Management has been working with the US index provider to launch NASDAQ-linked QDII ETFs since 2009. The QDII products have drawn an overwhelming response in China, partly as the NASDAQ brand is so widely recognised.
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