Blackrock received approval from the Securities and Futures Commission (SFC) to launch the iShares Hang Seng Tech ETF on Tuesday, according to the regulator’s website.
FSA sought more information from Blackrock, but it was not able to provide more details about the product in time for publication.
The product will be the fourth ETF that will track the new index, which was launched in late-July. The other firms that have launched the same product are CSOP Asset Management, China Asset Management, and Hang Seng Investment Management.
The Hang Seng Tech Index includes 30 of the largest technology companies listed in Hong Kong. The index universe covers companies that have high business exposure to selected technology themes, including internet, fintech, cloud and e-commerce, according to a statement from the index provider.
Other firms have also recently launched technology-themed products in Hong Kong, including Mirae Asset Global Investments and Nikko Asset Management.
There are around 20 technology-related ETFs which have been launched in Hong Kong, compared to overall 109 ETFs in the SAR, according to the latest data from HKEX.
Blackrock’s move just follows after it launched in July the iShares MSCI Emerging Markets ETF (HK), which is the first Hong Kong-listed feeder ETF.
In Hong Kong, Blackrock has 12 SFC-authorised ETFs. The firm manages HK$34.98bn ($4.5bn) in ETF assets in Hong Kong, accounting for 11% of the SAR’s overall HK$315.4bn ETF market (excluding L&I products), according to data from Hong Kong Exchange.
Blackrock’s ETFs in Hong Kong
| Name of the product | Year of authorisation | AUM (in HK$) |
| iShares Core CSI 300 ETF | 2009 | 305.36m |
| iShares Core Hang Seng Index ETF | 2016 | 234.58m |
| iShares Core KOSPI 200 ETF | 2016 | 37.36m |
| iShares Core MSCI Asia ex Japan ETF | 2009 | 7.04bn |
| iShares Core MSCI China ETF | 2001 | 4.84bn |
| iShares Core MSCI Taiwan ETF | 2016 | 521.92m |
| iShares Core S&P BSE SENSEX India ETF | 2006 | 604.45m |
| iShares FTSE A50 China ETF | 2004 | 20.81bn |
| iShares MSCI Emerging Asia ETF | 2009 | 233.69m |
| iShares MSCI Emerging Markets ETF | 2020 | 110.44m |
| iShares NASDAQ 100 ETF | 2016 | 239.65m |
| iShares Hang Seng Tech ETF | 2020 | |
| In total | 34.98bn |
