Posted inProduct News

HKEX: ETFs de-listed; funds to launch

Samsung Asset Management will delist six ETFs in Hong Kong, while Capital Group received a green light to launch five mutual funds.
Fund Selector Asia

The ETFs for de-listing, according to a statement from the Hong Kong Exchange and Clearing (HKEX), include leveraged and inverse ETFs from Samsung:

  • the KOSPI 200 Daily (2x) Leveraged Product;
  • the TOPIX Daily (2x) Leveraged Product;
  • the TOPIX Daily (-1x) Inverse Product;
  • the KOSPI 200 Daily (-1x) Inverse Product.

The two other Samsung ETFs that will be delisted track the Hang Seng Futures Index: the HSI Futures ETF and the HSI Futures RMB FX ETF, according to a separate HKEX statement.

According to the HKEX, the expected last trading day for the six ETFs will be at the end of this month.

The L&I products were launched in June last year, while the Hang Seng Futures ETFs were launched in February 2015, according to the firm’s website

Separately, in March, Samsung launched four L&I products that remain actively traded, according to HKEX information.

Fund approvals

Seven funds have received the green light for launch from Hong Kong’s Securities and Futures Commission, according to records from the regulator.

Five of the funds are managed by Capital Group and were approved on 20 June: 

  • the AMCAP Fund (LUX);
  • the Global Intermediate Bond Fund (LUX);
  • the Investment Company of America (LUX);
  • the New World Fund (LUX);
  • the US Corporate Bond Fund (LUX).

The other two approved products are BOCHK Asset Management’s All Weather China Income Fund and from T Rowe Price, the Global Natural Resources Equity Fund.

Capital Group has 23 SFC-registered funds in Hong Kong, according to the regulator’s records. The firm is in discussions with distributors who have expressed interest in putting these funds on their platforms, according to Thomas Quantrille, Capital Group’s managing director for Asia.

On separate occasions, the firm previously said it intended to launch funds in Asia. For example, the firm said it was planning to launch the US Corporate Bond Fund and the AMCAP Fund this year in the region.

Last month, Capital Group also launched a US equity growth strategy that is available for professional investors in Asia, FSA reported earlier.

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