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Deutsche Bank launches 11 Ucits-compliant ETFs in Hong Kong


Deutsche Bank has launched Hong Kong’s first Ucits III-compliant exchange-traded funds tracking the performance of ten CSI300 sector indices, as well as one ETF tracking the performance of the CSI300 Index itself.

The index replicates the performance of the 300 most representative A-shares listed on the Shanghai and Shenzhen stock exchanges.
“The new ETFs provide Asian investors with a transparent and liquid investment option and allow them cost-effective ease of access to the performance of the mainland Chinese equity market,” says Marco Montanari, Asia head of Deutsche Bank’s ETF platform, db x-trackers. 

The ETFs are backed by the Ucits III fund regulations, allowing them to be sold throughout the countries of the European Union and limiting net counterparty risk exposure to ten per cent of the relevant ETF’s net asset value. 

The ETFs have an annual all-in fee of 0.50 per cent each – less than half the fee cost of other China A-share ETFs listed in Hong Kong. 

“In addition, db x-trackers’ ETFs are domiciled in Luxembourg and can represent a tax efficient investment option for investors compared with other offshore ETFs, especially those in the US, which may be taxed up to 30 percent on their dividends,” adds Montanari.

The new EFTs offered by db x-trackers are all swap-based, meaning they use derivatives to synthetically replicate the performance of the CSI300 Index and the sub-sector indices, allowing for a lower tracking error.

In addition, Deutsche Bank puts up collateral against the value of the swap exposure on a daily basis to further reduce investor risks.

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