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CSOP launches FTSE China A50 ETF on NYSE Arca


Offshore Chinese asset manager CSOP Asset Management Limited (CSOP) has launched the CSOP FTSE China A50 ETF on the NYSE Arca under the ticker AFTY. 

The Fund tracks the performance of the FTSE China A50 (CNHUSD) Net Total Return Index, which provides exposure to 50 largest stocks on the Shanghai and Shenzhen Exchanges. The Fund is the first Exchange Traded Fund (ETF) listed independently in the United States by a Chinese asset management company. The Fund has debuted with more than USD237 million in assets and 13.96 million shares as the largest initial capital investment among all US listed equity ETFs since 2007. 

The Chinese equity market was among the world's best performing markets in 2014; the Shanghai Composite Index recorded more than 60% Year-to-Date return . The turnover of A-Share market reached a historical high and China's equity market made it as the world's second largest equity market . The ongoing Renminbi (RMB) internationalisation, together with the recent liquidity injection and interest rate cut by the People's Bank of China (PBoC), will allow China's capital market to further open up and grow by attracting foreign investors. In addition, A-Share market offers diversification opportunities* to global investors due to its low correlation with regional and world portfolios. 

By tracking the FTSE China A50 (CNHUSD) Total Net Return Index, the Fund offers investors exposure to the 50 largest A-Share companies by full market capitalisation on the Shanghai and Shenzhen Exchanges. The Fund tracks the performance of China's onshore market while allowing investors to trade in US dollar during US trading hours, granting investors efficient trading and liquidity. With this listing, CSOP's FTSE China A50 ETF series now trades on exchanges in Asia, Europe, and North America, providing investors with round-the-clock trading platforms for Chinese equity market.

"The listing of the CSOP FTSE China A50 ETF on the NYSE ARCA offers US investors access to a transparent, efficient, and liquid solution through which they can participate in China's exciting success story," says Ding Chen, CSOP's Chief Executive Officer. "Our local market knowledge and expertise coupled with our status as the world's largest RQFII makes CSOP the partner of choice for investors around the world. The extension of our FTSE China A50 series into North America further enhances CSOP's offering and will serve as a cost effective and easy-to-understand product for institutional and individual investors who want to tap into China's A-Share market."

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