China International Capital Corporation Limited (CICC) and Krane Funds Advisors have launched of their first fund together, the CICC KraneShares CSI China Internet Index ETF which has listed on the Stock Exchange of Hong Kong (SEHK).
The ETF tracks the CSI Overseas China Internet Index, matching the benchmark and strategy of the US-listed KraneShares CSI China Internet ETF. KWEB is listed on the New York Stock Exchange, and since 2013, has been one of performance leaders in the category, with USD1.7 Billion in assets under management. KraneShares is a US asset management firm known for its China focused KraneShares exchange traded funds.
“CICC is seeing considerable client interest and demand for a China-focused Internet ETF in the Asia market,” says Lin Ning, Managing Director of China International Capital Corporation Hong Kong Asset Management Limited, the Manager of the CICC KraneShares CSI China Internet Index ETF. “We are excited to launch this innovative ETF on the SEHK”.
“KraneShares is proud to partner with CICC and expand our reach into the Hong Kong market,” says Jonathan Krane, CEO of KraneShares. “We believe the CICC KraneShares CSI China Internet Index ETF presents a great opportunity for investors across Asia.”
The newly launched CICC KraneShares CSI China Internet Index ETF will provide investors with exposure to Chinese Internet companies that benefit from the increasing domestic consumption within China. Key constituents include Tencent, Alibaba, Baidu, JD, Weibo, etc.