Global X Funds, the New York based provider of exchange traded funds, is changing the index, name, ticker and primary listing exchange of the Global X China Technology ETF (Ticker: CHIB).
These changes will provide investors with an ETF that seeks the investment results that correspond generally to the price and yield performance, before fees and expenses, of the NASDAQ OMX China Technology Index. The new name and ticker of the fund will be the Global X NASDAQ China Technology ETF (Ticker: QQQC) trading on the NASDAQ.
Fund shareholders are not required to take any action as a result of this announcement. The changes will take effect on or around 15 December, 2011.
The fund, which will now list on NASDAQ rather than the NYSE Arca, will be known as the Global X NASDAQ China Technology ETF and will be based on the NASDAQ OMX China Technology Index.
We are pleased to be pairing with NASDAQ OMX, a recognised leader in the development of technology indexes, to reintroduce this product into the market," said Bruno del Ama (pictured), CEO of Global X Funds.
The NASDAQ OMX China Technology Index is designed to track the performance of the technology sector in China. It is made up of securities of companies which have their main business operations in the technology sector and generally includes companies whose businesses involve: computer services; internet; software; computer hardware; electronic office equipment; semiconductors; and telecommunications equipment. Only securities which are tradable for foreign investors without restrictions are eligible, such as Shanghai and Shenzhen B-shares, Hong Kong listed securities incorporated in main land China (H-shares) or with main business operations in China (Red chips), and Chinese ADRs. The stocks are screened for liquidity and weighted according to float adjusted modified market-capitalisation. The index is maintained by NASDAQ OMX.