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China financials ETF starts trading on NYSE Arca


New York-based asset manager Global X Management has launched the Global X China Financials ETF, the first exchange-traded fund offering targeted access to the China financials sector.

It is the latest addition to the family of China sector ETFs offered by Global X Funds.

The Global X China Financials ETF seeks to replicate the S-BOX China Financials Index, which is designed to reflect the performance of the financials sector in China, the largest segment of the Chinese equity market.

As of 30 November 2009, banks represent 44 per cent of the index, real estate companies 31 per cent and insurance companies 24 per cent. The largest index components were China Construction Bank, Industrial and Commercial Bank of China, China Life Insurance and Bank of China.

"Completely new market segments, such as the mortgage market, have developed over the last ten years, while relatively new markets, such as credit cards and wealth management, are rapidly expanding," says Bruno del Ama, chief executive of Global X Management. "Companies in the China Financial ETF are poised to take advantage of the growth of these markets."

The fund is the latest launch in the family of China sector ETFs offered by Global X Funds, joining the China Industrials ETF, China Consumer ETF and China Technology ETF, trading on the NYSE Arca; the upcoming China Energy ETF and China Materials ETF are not yet available for purchase. All funds have a 0.65 per cent expense ratio.

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