Global asset manager Invesco announced today that its flagship Invesco QQQ Trust Exchange Traded Fund (Invesco QQQ ETF) has been approved for sale in Hong Kong by the Securities & Futures Commission and cross-listed on the Hong Kong Stock Exchange (HKEX).
Invesco QQQ, a large-cap growth fund, is the flagship fund of Invesco’s $762bn ETF business,thefourth largest ETF provider globally, according to a statement by the firm.
It is a unit investment trust designed to track the investment results, before fees and expenses, of the Nasdaq-100 index. It holds all the stocks included in the Nasdaq-100 index and trades on the Nasdaq stock exchange under the ticker symbol QQQ.
Andrew Lo, chief executive, Asia Pacific at Invesco, said: “We believe Hong Kong’s unique position in Asia Pacific, as well as its well-established financial infrastructure, will enable us to strategically connect our stakeholders and investors in the region with this important large-cap growth strategy.”
“Invesco QQQ ETF has a track record of strong performance over its 25-year history, offering investors access to innovative, growing companies with strong fundamentals,” added Brian Hartigan, global head of ETFs and index investments at Invesco.
With approximately $318.9bn in AUM, Invesco QQQ is the world’s fifth largest ETF and second most traded ETF in the US, as measured by Bloomberg. The launch marks the first cross-listing of Invesco QQQ outside of North America.
By trading on HKEX – one of the world’s leading exchanges – investors around the region will have a highly efficient method of accessing the deep liquidity and price transparency of Invesco QQQ, in a convenient time zone, said the statement.
Investors will be able to invest in their preferred currency, with USD, HKD and RMB counters available.
