Assets under management (AUM) in Krane Fund Advisors’ flagship KraneShares CSI China Internet UCITS ETF (KWEB) have grown 420 per cent year-to-date, surpassing USD250 million in November, while KraneShares’ global firm assets exceeded USD6 billion. KWEB LN seeks to capture the compelling growth potential of China’s leading, innovation-driven internet companies. China internet stocks are having a banner year, outperforming not only broad China and Emerging Markets but also the US markets. Year-to-date, KWEB’s Index has returned 53.59 per cent, compared to the MSCI China Index at 26.40 per cent, the MSCI Emerging Markets Index at 8.36 per cent, and the S&P 500 Index, which has returned 11.24 per cent.1
In response to demand, KraneShares launched British Pound (LSE: KWBP) and Euro (LSE: KWBE) share classes of KWEB LN.
“As KWEB LN achieves its two-year track record this November, we are pleased to see AUM growth in the strategy is strong,” says Dr Xiaolin Chen, Head of International at KraneShares. “The two additional share classes allow UK and European clients to invest in the strategy based on their currency preferences.”
Additionally, KWEB LN continues to expand its investment universe with Lufax Holdings’ (LU) inclusion in the Fund on 13th November 2020. Lufax is in an online peer-to-peer internet finance marketplace backed by China’s financial giant Ping An Insurance Group.
“The strong asset growth we have seen this year speaks to the vibrancy and growth potential of the China Internet sector,” says Jonathan Krane, CEO of KraneShares. “At the same time, there are several initial public offerings on the horizon, like Lufax, that are getting investors excited about the sector. Now with GBP and EUR share classes, our clients have more options to invest in KWEB LN.”