China Approves First ETFs Tracking Saudi Equities
China has approved its first exchange-traded funds investing in Saudi Arabia equities, managed by Huatai-Pinebridge Investments and Southern Asset Management. These funds will track the Hong Kong-listed CSOP Saudi Arabia ETF. This move aims to deepen Sino-Saudi cooperation in capital markets and expand Beijing's ties with the Middle East.
China has approved its first exchange-traded funds (ETFs) investing in Saudi Arabia equities, according to fund managers.
The products, managed by Huatai-Pinebridge Investments and Southern Asset Management, will track the Hong Kong-listed CSOP Saudi Arabia ETF.
This ETF, launched by CSOP Asset Management in November, follows the FTSE Saudi Arabia Index and is down 5% this year, in contrast to a 3% gain in China’s CSI 300.
The approval is expected to deepen Sino-Saudi cooperation in capital markets.
Beijing aims to expand ties with the Middle East and other regions amid tensions with the West.
China's securities regulator has also shown openness to foreign investments, including those from the Middle East, following news of Qatar’s sovereign wealth fund acquiring a 10% stake in China Asset Management Co.
The products, managed by Huatai-Pinebridge Investments and Southern Asset Management, will track the Hong Kong-listed CSOP Saudi Arabia ETF.
This ETF, launched by CSOP Asset Management in November, follows the FTSE Saudi Arabia Index and is down 5% this year, in contrast to a 3% gain in China’s CSI 300.
The approval is expected to deepen Sino-Saudi cooperation in capital markets.
Beijing aims to expand ties with the Middle East and other regions amid tensions with the West.
China's securities regulator has also shown openness to foreign investments, including those from the Middle East, following news of Qatar’s sovereign wealth fund acquiring a 10% stake in China Asset Management Co.