Vanguard, a mutual fund firm, has introduced an S&P 500 Index Exchange traded fund listed on the Hong Kong stock exchange.
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The ETF is the first S&P 500 ETF which has been listed in Hong Kong.
Vanguard Asia regional managing director Shelly Painter said: "Today’s launch of the Vanguard S&P 500 Index ETF demonstrates our ongoing commitment to the Hong Kong market, and provides investors with another core building block to build a globally diversified portfolio."
The new fund is deemed to be the cheapest US equity ETF available in the region with a total expense ratio (TER) of 0.25% per year. This enables investors to keep more of their returns.
The fund will allow Hong Kong investors further diversify their portfolios with broad US equity exposure.
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By GlobalDataVanguard International managing director James Norris added: "The expansion of our ETF suite in Hong Kong provides investors with greater choice of low cost, risk controlled and well diversified portfolio construction tools."
