CSOP Asset Management Limited (CSOP), a Hong Kong-based ETF manager that specialises in providing China-access strategies, has announced the reorganisation of the CSOP FTSE China A50 ETF (AFTY).
CSOP has established a strategic relationship with Pacer ETFs (Pacer) on the ongoing distribution and management of AFTY. The reorganisation of AFTY also marks the partnership established between the two companies.
Pacer has made the acquisition of AFTY, moving the fund from the original CSOP ETF Trust to the Pacer Funds Trust. After the reorganisation, AFTY is renamed Pacer CSOP FTSE China A50 ETF. Pacer Advisors becomes the investment adviser to the Fund, whereas CSOP retains the responsibility of day-to-day management of the Fund’s portfolio, as the Fund’s investment sub-adviser. The investment objective, policies, strategy, risks, as well as listing exchange and ticker symbol (AFTY) all remain unchanged.
The Pacer CSOP FTSE China A50 ETF (AFTY) seeks to track the FTSE China A50 Net Total Return Index and offers exposure to the 50 largest companies in the China A-Shares market. This index only tracks A-Shares which are distinct in that only companies incorporated in Mainland China and listed on the Shanghai or Shenzhen exchanges are included.
“We see this as a win-win collaboration, where CSOP and Pacer each plays to its strength in managing A-Shares portfolio and in wholesale and distribution efforts respectively,” says Melody He, Managing Director and Head of Business Development of CSOP. “We believe that combining the strength of the two firms will bring benefits of economies of scale to our investors, and we look forward to working with the Pacer team to go out and speak to wholesalers and independent advisors about the China investment story.”
“While many of our peers have turned passive on the overseas market growth such as in US and Europe, we remain committed to establishing our foothold in these markets,” says Chen Ding, CEO of CSOP. “As China continues to open up its capital market to foreign investors, more and more investors, institutions and retails alike, find it necessary to build out dedicated China exposure in their investment portfolio. As a China specialist, we are committed to bringing different China strategies to meet their specific needs.”
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