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CSOP launches first Hong Kong-Shanghai ETF cross-listing


The Hong Kong unit of Shenzhen-based China Southern Asset Management has launched the first exchange-traded fund (ETF) under a cross-listing scheme with the Shanghai bourse.
CSOP Asset Management’s CSOP Huatai-Pinebridge CSI Photovoltaic Industry ETF was listed on both the Hong Kong and Shanghai stock exchanges on June 1. The fund was jointly developed by CSOP and Huatai Pinebridge, US asset manager Pinebridge Investments’ China joint venture.
The ETF tracks the CSI Photovoltaic Industry Index, which gauges performance of 50 Chinese companies from the upstream and downstream sectors of the photovoltaic industry, CSOP says in a statement on June 1.
According to the company, the fund raised an initial 53 million RMB (US$7.95 million) from several individual investors before the public listing. ....

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