HONG KONG, Sept. 1, 2016 /PRNewswire/ -- ICBC Credit Suisse Asset Management (International) Company Limited ("ICBCCSI") today announced the listing of the UCITS ETF tracking the S&P China 500 Index in offshore Yuan CNH. The latest currency line follows on from the recent launch of the first UCITS ETF tracking the S&P China 500 Index listed in USD and GBP on the London Stock Exchange. This is the first UCITS ETF to provide access to all China equity share classes.
The S&P China 500 Index uses a rule-based process to measure the world's second largest economy and equity market. The index captures the key characteristics of the total Chinese equity market - including A-shares and H-shares, and other international listings - by using predominantly large and liquid securities. The use of a sector-based stock selection process then allows the index to reflect the sector allocation at the broad China index level. This methodology allows the index to be more reflective of the evolution of the Chinese economy than other equity indices, which are limited in the share classes that they include.
Laura Lui, Head of Index & Quantitative Investment of ICBC Credit Suisse Asset Management (International) commented:
"The global product partnership between ICBCCSI and WisdomTree brings an immense opportunity to both companies. WisdomTree's global ETF expertise complements ICBCCSI's in-depth understanding of the Chinese market - together we offer the investors comprehensive access to China. The launch of the CNH denominated ETF tracking The S&P China 500 Index in addition to the USD and GBP listing demonstrates our commitment to provide pioneering solutions with diversified, transparent and efficient tools for accessing China. The internationalisation of RMB has always been one of the key subjects of global investors, and the newly launched ETF is another milestone for an RMB-denominated, total China solution."
Nizam Hamid, ETF Strategist at WisdomTree Europe, said:
"At WisdomTree, we are in the business of offering the most efficient means of accessing the global markets. This latest ETF opens up even more opportunity for European investors wanting to access the full China growth story in a single trade. With the addition of a CNH listing, investors now get even more choice when it comes to their own investing preferences. China remains a critical exposure having the highest weight in emerging market indices."
"China's onshore market is large and dynamic with unique growth characteristics, which is highly attractive to investors," said Alex Matturri, Chief Executive Officer at S&P Dow Jones Indices. "We are delighted to work with both WisdomTree and ICBC Credit Suisse to licence our innovative and transparent S&P China 500 Index solution which comprises the largest and most liquid companies in China."
State Street Bank S.A. in Luxembourg has been appointed to provide fund administration and custody services for the Luxembourg domiciled ETF.
Disclaimer
The S&P China 500 Index is a product of S&P Dow Jones Indices LLC and/or its affiliates and has been licensed for use by ICBC Credit Suisse Asset Management (International) Co., Ltd. (ICBCCSI), © 2016 S&P Dow Jones Indices LLC, a division of S&P Global. All rights reserved. S&P, SPDR and S&P 500 are registered trademarks of Standard & Poor's Financial Services LLC, a division of S&P Global ("S&P"). DOW JONES is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"). These trademarks together with others have been licensed to S&P Dow Jones Indices LLC. Redistribution, reproduction and/or photocopying in whole or in part are prohibited without written permission. This document does not constitute an offer of services in jurisdictions where S&P Dow Jones Indices LLC, Dow Jones, S&P or their respective affiliates (collectively "S&P Dow Jones Indices") do not have the necessary licenses. All information provided by S&P Dow Jones Indices is impersonal and not tailored to the needs of any person, entity or group of persons. S&P Dow Jones Indices receives compensation in connection with licensing its indices to third parties. Past performance of an index is not a guarantee of future results. Neither S&P Dow Jones Indices LLC, Dow Jones, S&P, and their respective affiliates ("S&P Dow Jones Indices") nor their third party licensors make any representation or warranty, express or implied, as to the ability of any index to accurately represent the asset class or market sector that it purports to represent and neither S&P Dow Jones Indices nor their third party licensors shall have any liability for any errors, omissions, or interruptions of any index or the data included therein.
About ICBC Credit Suisse Asset Management
ICBC Credit Suisse Asset Management Company Limited is the joint venture between the Industrial and Commercial Bank of China (ICBC) and Credit Suisse. The firm is one of the largest asset managers in the Mainland China, and the investment specialist dedicated to providing China and RMB asset management solutions within the ICBC Group. Since establishment in 2005, the firm has upheld the philosophy of "Value Creation through Prudent Investing". As of the end of June 2016, the firm has approximately 550 employees and RMB1000 billion assets under management, providing first-class investment management and advisory services for over 15.3 million institutional and retail clients.
About WisdomTree Europe Ltd.
WisdomTree Investments, Inc., through its subsidiaries in the U.S. and Europe, including WisdomTree Europe Ltd based in London, is an exchange-traded fund ("ETF") and exchange-traded product ("ETP") sponsor and asset manager. WisdomTree offers products covering equities, fixed income, currencies, commodities and alternative strategies. Through WisdomTree Europe Ltd, it sponsors WisdomTree UCITS ETFs and BOOST short and leverage ETPs. WisdomTree currently has approximately $40.5bn (as of 31 July 2016) in assets under management globally. For more information, please visit www.wisdomtree.com.
WisdomTree® is the marketing name for WisdomTree Investments, Inc. and its subsidiaries worldwide.
ICBC Credit Suisse Asset Management (International) Company Limited
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