Loncar launches China biopharma ETF
Loncar China BioPharma ETF (Nasdaq: CHNA) has launched on the Nasdaq in the US. Loncar writes that the CHNA ETF seeks to give investors access to China’s rapidly-developing biopharmaceutical industry.
It is based on the Loncar China BioPharma Index, an innovative index developed by biotechnology investor Brad Loncar.
Exchange Traded Concepts (ETC) partnered with Loncar Investments on the launch of the fund. It invests in 28 companies, 22 of which are listed on the Hong Kong Stock Exchange and six of which are listed on Nasdaq, offering investors distinct, global exposure through the convenience of one security.
“China aims to become a leader in global medicine,” says Brad Loncar, Chief Executive Officer of Loncar Investments. “Regulatory reform and a new rule allowing pre-revenue biotech companies to list on the Hong Kong Stock Exchange may signal a new era for innovative drug development in the region. We think this is an important trend in healthcare, as it has the potential to spur growth and benefit patients worldwide.”
“We are proud to deliver another cutting-edge, biotech-focused product to the market,” says J Garrett Stevens, CEO of Exchange Traded Concepts. “China’s goal of moving its life sciences industry towards innovation is one of the most exciting themes within biotechnology, and the Loncar China BioPharma ETF gives investors a front row seat to this transformation.”