Hong Kong-based Enhanced Investment Products and Mirae Asset are the latest firms to delist ETFs from the Hong Kong Stock Exchange, following last week’s announcement from GF International.
Enhanced Investment Products, in a filing to the local bourse yesterday, said that it intends to end trading of the CLSA Gary ETF from 9 October. According to index provider CLSA’s website, Gary stands for “growth at a reasonable yield”.
The product, tracking the CLSA Gary Net Total Return Index, aims to invest in Asia-Pacific (ex-Japan) companies listed globally with a rule-based strategy.
The fund, which was launched in November 2015, only has HK$$24.7m ($3.2m) in assets, according to HKEX.
The index has 65 constituents, according to Morningstar. Compared to other Asia-Pacific (ex-Japan) equity indices, the Gary Net Total Return Index tends to hold more real estate and industrial companies.
The ETF has had an annualised 9.14% return since its inception, data from FE Analytics shows.
CLSA Gary ETF, as of August
|
Top Holdings |
Sector | Country | % |
|
National Aluminium |
Basic materials | India | 1.90 |
| Credit Corp Group | Financial | Australia |
1.83 |
|
NIB Holdings |
Financial | Australia | 1.80 |
| Shimao Property | Real estate | China |
1.73 |
| Tisco Financial Group | Financial | Thailand |
1.69 |
|
Trade Me Group |
Technology | New Zealand | 1.69 |
| Asmedia Technology | Technology | Taiwan |
1.68 |
|
PT Astra International |
Consumer cyclical | Indonesia | 1.67 |
|
The Star Entertainment Group |
Consumer cyclical | Australia | 1.67 |
| United Tractors | Industrials | Indonesia |
1.64 |
Source: Morningstar
EIP manages three other Hong Kong-listed passive products. They are: the Chimerica FTSE N Share Daily (2x) Leverage Product, the FTSE Chimerica ETF and the FTSE Gold Miners ETF.
In addition, the FTSE Chimerica ETF, benchmarked to the FTSE China N Shares All Cap, returned 71.68% during the calendar year 2017, becoming the best performer among 106 China equity funds available for sale in Hong Kong, according to FE.
However, the year-to-date return is -17.6%. The whole China equity category is in negative territory year-to-date, largely due to the tariff war with the US.
Mirae Asset delisting
Listed in January 2012, the Mirae Asset Horizons S&P Global Consumer Brands ETF had HK$29.3m in assets at the end of August, according to HKEX. The Korea-based manager applied to the stock exchange for a termination of trading from 16 October.
The underlying index is the S&P Global Consumer Enterprises Index. The cap-weighted index consists of 30 holdings. The annualised return for the trailing three-year period is 11.44%.
Excluding the product to be delisted, Mirae Asset has nine other passive products listed on the bourse in the SAR. It also distributes eight active funds investing in Asian and emerging markets equities.
Horizons S&P Global Consumer Brands ETF , as of June
|
Top Holdings |
Country | % |
| Nike | US |
4.09 |
|
Netflix |
US | 4.02 |
| Kering | France |
4.02 |
|
Industria de Diseno Textil |
Spain | 3.92 |
| Hermes International | France |
3.76 |
|
Moet Hennessy Louis Vuitton |
France | 3.74 |
| Christian Dior | France |
3.73 |
|
Amazon |
US | 3.67 |
| Suzuki Motor | Japan |
3.53 |
|
Adidas |
Germany | 3.47 |
