Mon, 21/07/2014 - 06:01
The DAX index underlies the first exchange-traded fund (ETF) based on a European index that will be available in China.
The HuaAn Germany DAX 30 ETF is due to list on the Shanghai Stock Exchange.
“DAX is one of the most recognised and well-known blue-chip indices in the world. As a completely rules-based and transparent barometer of top German companies, the index remains a leading choice to underlie a wide range of financial products,” says Hartmut Graf, chief executive officer, STOXX Limited. “We are pleased that HuaAn has selected DAX to underlie the first European ETF in China.”
STOXX Ltd is the marketing agent for the indices of Deutsche Börse and SIX, including the DAX and SMI indices.
Asia is a major focus for STOXX. The most recent accomplishments in the region are the licensing of the STOXX ASEAN-Five Select Dividend 50 Index to Nomura for an ETF which was listed in Tokyo on 12 March 2014, the licensing of the EURO STOXX 50 Index to Mirae Asset Global Investments for an ETF listed in Seoul on 30 April 2014 and, most recently, the introduction of the Chinese version of STOXX’s name, “STOXX 势拓”, on 8 May 2014.
"As one of the innovation leaders in China’s mutual fund industry, HuaAn is dedicated to product and business innovation to meet investors’ growing demand for wealth management and asset allocation. We are pleased to launch the Germany DAX 30 ETF & feeder fund, which is the first mutual fund specialising on German stocks in China. This product also opens the door to invest in Germany and EU for China investors,” says Li Qing, CEO of HuaAn. "The era of global asset allocation has come to China, and HuaAn aims to be the leading asset management company at home and abroad."
The DAX measures the development of the 30 largest and most liquid companies on the German equities market and represents around 80 per cent of the market capitalisation authorised in Germany.
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Thu, 27 Aug 2015 00:00:00 GMTJunior Institutional FX Sales – NYC
Thu, 27 Aug 2015 00:00:00 GMTVP Sales, Large Global Financial Services Provider – Singapore/HK based
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