HuaAn Asset Management, one of mainland China’s largest investment management firms, has introduced the HuaAn Germany DAX 30 ETF, the country’s first locally domiciled exchange-traded fund to provide exposure to the DAX Index.
China’s first locally domiciled DAX ETF has been listed on the Shanghai Stock Exchange. (Photo © Baycrest)
The ETF, which has been listed on the Shanghai Stock Exchange, means Chinese investors can now access the performance of leading German companies for the first time.
Li Qing, CEO of HuaAn, said: “We are pleased to launch the Germany DAX 30 ETF and feeder fund, which is the first mutual fund specializing on German stocks in China. This product also opens the door to invest in Germany and EU for China investors. 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 performance of the 30 largest and most liquid companies on the German equities market and represents around 80 percent of the market capitalization authorized in Germany. It currently serves as the basis for more than 135,000 financial products, including numerous ETFs. Major constituents of the index include companies such Siemens, BASF, SAP, Bayer, Allianz, Daimler and Deutsche Bank.
Hartmut Graf, CEO of Stoxx, said: “[The] DAX is one of the most recognized 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. We are pleased that HuaAn has selected DAX to underlie the first European ETF in China.”
Stoxx 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. Recent activity by the company in the region includes the licensing of the Stoxx Asean-Five Select Dividend 50 Index to Nomura for an ETF listed in Tokyo on March 12, 2014; the licensing of the Euro Stoxx 50 Index to Mirae Asset Global Investments for an ETF listed in Seoul on April 30, 2014; and the introduction of the Chinese version of Stoxx’s name, “STOXX 势拓”, on May 8, 2014.