The last trading day for the firm’s C-Shares CSI 300 Index, C-Shares CSI Consumer Staples Index and the C-Shares CSI Healthcare Index ETFs is on 15 January, according to a HKEX filing.
These are the only ETFs that China Universal is managing in Hong Kong, according to HKEX records. Besides ETFs, the firm offers four mutual funds in Hong Kong. It is also one of the biggest fund managers in the mainland, managing RMB 169.84bn ($21.71bn) in assets, excluding money-market funds, as of the end of June.
The firm did not comment on the reason for delisting the passive products. However, other firms have delisted ETFs because they failed to gather adequate assets.
China Universal’s CSI 300 Index ETF has RMB 10.6m ($1.63m) in assets, the CSI Consumer Staples Index ETF with RMB 6m and the CSI Healthcare Index ETF with RMB 11.2m.
There are six other ETFs in Hong Kong from various firms tracking the CSI 300 Index. Only two of them have accumulated a huge amount of assets, with China Asset Management (Hong Kong)’s ChinaAMC CSI 300 ETF having RMB 11.39bn ($1.75bn) and BOCI-Prudential Asset Management’s W.I.S.E – CSI 300 China Tracker with HK$2.69bn ($340m) in assets.
The other four CSI 300 ETFs, managed by Blackrock, Deutsche Asset Management, Hai Tong Asset Management and Mirae Asset Global Investments had assets below $100m each.
In total, 10 firms announced last year that they were delisting 35 ETFs. By comparison, 26 ETFs were delisted in 2016.
ETFs delisted in Hong Kong in 2017
|
Firm name |
ETF | Date of announcement |
Last trading day |
| Blackrock | iShares CSI A-Share Financials Index ETF (synthetic) | 23 January | 24 February |
| Deutsche Asset Management | DB X-Trackers II Australian Dollar Cash UCITS ETF (synthetic) | 27 April | 26 May |
| Deutsche Asset Management | DB X-Trackers CSI 300 Banks UcitsS ETF (synthetic) | 13 June | 12 July |
| Deutsche Asset Management | DB X-Trackers CSI300 Consumer Discretionary Ucits ETF (synthetic) | 13 June | 12 July |
| Deutsche Asset Management | DB X-Trackers CSI 300 Energy Ucits ETF (synthetic) | 13 June | 12 July |
| Deutsche Asset Management | DB X-Trackers CSI 300 Financials Ucits ETF (synthetic) | 13 June | 12 July |
| Deutsche Asset Management | DB X-Trackers CSI 300 Health Care Ucits ETF (synthetic) | 13 June | 12 July |
| Deutsche Asset Management | DB X-Trackers CSI 300 Industrials Ucits ETF (synthetic) | 13 June | 12 July |
| Deutsche Asset Management | DB X-Trackers CSI 300 Materials Ucits ETF (synthetic) | 13 June | 12 July |
| Deutsche Asset Management | DB X-Trackers CSI 300 Real Estate Ucits ETF (synthetic) | 13 June | 12 July |
| Deutsche Asset Management | DB X-Trackers CSI 300 Transportation Ucits ETF (synthetic) | 13 June | 12 July |
| Deutsche Asset Management | DB X-Trackers CSI 300 Utilities Ucits ETF (synthetic) | 13 June | 12 July |
| Deutsche Asset Management | DB X-Trackers MSCI AC Asia Ex Japan High Dividend Yield Index Ucits ETF (synthetic) | 13 June | 12 July |
| Deutsche Asset Management | DB X-Trackers MSCI Bangladesh IM Index Ucits ETF (synthetic) | 13 June | 12 July |
| Deutsche Asset Management | DB X-Trackers MSCI EM Asia Index Ucits ETF (synthetic) | 13 June | 12 July |
| Deutsche Asset Management | DB X-Trackers MSCI Emerging Markets Index Ucits ETF (synthetic) | 13 June | 12 July |
| Deutsche Asset Management | DB X-Trackers MSCI India Index Ucits ETF (synthetic) | 13 June | 12 July |
| Deutsche Asset Management | DB X-Trackers MSCI Pakistan IM Index Ucits ETF (synthetic) | 13 June | 12 July |
| Samsung Asset Management | Samsung KOSPI 200 Daily (2x) Leveraged Product | 3 July | 31 July |
| Samsung Asset Management | Samsung TOPIX Daily (2x) Leveraged Product | 3 July | 31 July |
| Samsung Asset Management | Samsung TOPIX Daily (-1x) Inverse Product | 3 July | 31 July |
| Samsung Asset Management | Samsung KOSPI 200 Daily (-1x) Inverse Product | 3 July | 31 July |
| Samsung Asset Management | Samsung HSI Futures ETF | 3 July | 31 July |
| Samsung Asset Management | Samsung HSI Futures RMB FX ETF | 3 July | 31 July |
| BOCI-Prudential Asset Management | W.I.S.E – CSI HK Listed Mainland Consumption Tracker | 8 August | 7 September |
| BOCI-Prudential Asset Management | W.I.S.E – CSI HK Listed Mainland Real Estate Tracker | 8 August | 7 September |
| Mirae Asset Global Investments | Mirae Asset Horizons S&P Emerging Asia Consumer ETF | 4 October | 2 November |
| Mirae Asset Global Investments | Mirae Asset Horizons S&P Asia Ex Japan Healthcare ETF | 4 October | 2 November |
| China Asset Management | ChinaAMC CES China A80 Index ETF | 11 October | 9 November |
| Harvest Global Investments | Harvest CSI Smallcap 500 Index ETF | 20 October | 20 November |
| CSOP Asset Management | CSOP CES China A80 ETF | 20 November | 18 December |
| Mirae Asset Global Investments | Mirae Asset Horizons KOSPI 200 ETF | 22 November | 21 December |
| China Universal Asset Management | C-Shares CSI 300 Index ETF | 19 December | 15 January |
| China Universal Asset Management | C-Shares CSI Consumer Staples Index ETF | 19 December | 15 January |
| China Universal Asset Management | C-Shares CSI Healthcare Index ETF | 19 December | 15 January |
Source: HKEX
ETFs listed in Hong Kong are perceived to be unattractive to investors because they do not have the satisfactory liquidity and are not necessarily low cost, according to King Au, CEO at Value Partners.
David Lai, partner and co-chief investment officer at Premia Partners, which launched its first ETFs in October, said that delistings are also common in the US. In Hong Kong, there can be several reasons, including cost, firms changing business strategy or little interest from investors.
