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Huatai-PineBridge completes USD5.3 billion ETF initial public offering

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PineBridge Investments’ China joint venture, Huatai-PineBridge Fund Management Co (Huatai-PineBridge), has successfully launched its CSI 300 ETF product in Mainland China, raising USD5.3 billion (RMB 33 billion) in its initial public offering.

It is the largest ETF IPO in the Mainland Chinese capital market since 2006 and is expected to be the second largest equity fund in the A share market.

The Huatai-PineBridge CSI 300 ETF is the first cross-exchange product linking the Shanghai and Shenzhen Stock Exchanges, providing investors with exposure to a well diversified, broad-based index of stocks listed on both the Shanghai and Shenzhen Stock Exchanges. It also matches the CSI 300 Futures Index, the first financial futures index in China, which was launched in April 2010. The CSI 300 ETF has a T+0 trading mechanism, which allows trading and settlement on the same day and enables investors to better capture ETF trading arbitrage opportunities.

Han Yong, CEO, Huatai-PineBridge says: “The Huatai-PineBridge CSI 300 ETF has attracted significant demand and is a unique product that aims to provide investors with access to two markets – Shanghai and Shenzhen. We are extremely pleased with the very positive reception this IPO has received and it is a testament to our successful track record of managing ETFs in this market. ”

David Jiang, CEO, PineBridge Investments, says: “The Huatai-PineBridge CSI 300 ETF firmly positions the company as one of the key players in the rapidly growing and exciting Chinese ETF market. This innovative product, particularly the flexible trading mechanism, also represents a significant market milestone and is an important achievement for Huatai-PineBridge.”

 

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