HONG KONG, Nov. 14, 2016 /PRNewswire/ -- ICBC Credit Suisse Asset Management (International) Company Limited ("ICBCCSI") today announced the launch of the UCITS ETF tracking the S&P China 500 Index listed on the Deutsche Borse.
In July, ICBCCSI and WisdomTree entered into a global product partnership in which the companies can jointly launch, market and distribute ETFs tracking the S&P China 500 Index around the world.
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 may be 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 will bring significant opportunities to both of our companies. WisdomTree has an established presence in the ETF world and an impressive track record as an ETF issuer. This complements ICBCCSI's in-depth understanding of the Chinese markets, as jointly we bring to investors pioneering solutions for diversified, transparent and efficient tools for accessing China opportunities. We are excited about the listing of this ETF on Deutsche Borse."
Nizam Hamid, WisdomTree's ETF Strategist in Europe, said:
"Market access to Chinese equities has long been an issue for investors and the creation of a UCITS ETF that covers all the relevant share classes in a single product brings substantial benefits. It represents a cost effective means of allocating to a broad index whilst removing the operational and administrative burdens often associated with accessing A-shares. The collaboration with ICBCCSI means that European investors have a transparent and liquid single product to invest in China."
"As the largest global resource for essential index-based concepts, data and research, S&P Dow Jones Indices is committed to developing transparent benchmarks that deliver insights into the performance of Chinese equities, an increasingly important market segment for international investors," said Alex Matturri, Chief Executive Officer at S&P Dow Jones Indices. "We are pleased to have licensed the S&P China 500 Index to WisdomTree and ICBCCSI."
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.
Notes to Editors
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. 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 RMB1trillion 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., Europe, Japan and Canada (collectively, "WisdomTree"), 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 $38.8bn (as of 30 September 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.
ICBCCSI Media Contact
ICBC Credit Suisse Asset Management (International) Co. Ltd.
+852-3975-3675
enquiries@icbccs.com.hk
