Hong Kong-based CSOP Asset Management has exited the U.S. ETF market by closing down the CSOP MSCI China A International Hedged ETF (CNHX) on Jan. 6 and selling its last remaining fund to Pacer.
The Pacer CSOP FTSE China A50 (AFTY) was renamed on Thursday, and that seems to be the only change. The fund’s ticker, expense ratio and underlying index will remain the same. AFTY covers the 50 largest China A-shares listed on the Shanghai and Shenzhen stock exchanges and currently has roughly $13 million in assets under management.
AFTY is the second ETF that Pacer has acquired in recent weeks. In mid-December, the firm acquired what is now known as the Pacer American Energy Independence ETF (USAI), and once again the only change was adding “Pacer” to its name. USAI covers U.S. and Canadian midstream energy infrastructure MLPs and has less than $12 million in assets.
USAI and AFTY both fill holes in Pacer’s lineup, which did not previously include ETFs offering exposure to MLPs or China’s A-Shares market. Pacer offers 23 ETFs and has nearly $6 billion in assets under management.
Contact Heather Bell at [email protected]
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