Pacer ETFs acquires second fund
Pacer ETFs (Pacer), an ETF provider that offers strategy-driven, rules-based ETFs, has acquired the CSOP FTSE China A50 ETF (AFTY).
This is Pacer’s second acquisition of an existing ETF in two months.
Effective immediately, the fund will be renamed to Pacer CSOP FTSE China A50 ETF and the fund’s ticker will remain the same.
The Pacer CSOP FTSE China A50 ETF (AFTY) seeks to track the FTSE China A50 Net Total Return Index and offers exposure to the 50 largest companies in the China A-Shares market. This index only trades A-shares which are distinct in that only companies incorporated in Mainland China and listed on the Shanghai or Shenzhen exchange are included. A-shares also provide a number of advantages compared to China’s B-share and H-share classes including direct access to Chinese companies with no intermediary, less political risk than Hong Kong H-shares and improved liquidity as A-shares are accessible by both domestic and foreign investors.
“We are always looking to grow at Pacer ETFs and this acquisition is just building upon our momentum as we grow organically and through acquiring funds we see value in,” says Sean O’Hara, President of Pacer ETFs Distributors. “We’ve become known for our unique strategies and funds that complement an array of portfolios, and we think AFTY is an excellent addition to our offerings due to its exposure to China.”
“Our growth is centred around our wholesale and distribution efforts, and innovative ETF products. We take pride in helping financial advisors and their clients reach their goals,” says Joe Thomson, Founder and President of Pacer Financial. “Pacer’s success shows through our record-setting growth last year and we’re excited for what’s to come in 2020.”