E Fund Management Takes Active Role in Shanghai STAR Market Internationalization
GUANGZHOU, Aug. 21, 2023 /PRNewswire/ -- E Fund Management ("E Fund"), the largest fund management company with offices in mainland China and Hong Kong, recently was invited to the web event commemorating the fourth anniversary of the Shanghai Stock Exchange (SSE) Science and Technology Innovation Board (STAR Market), which highlighted the remarkable strides in the internationalization of the STAR Market.
Established in July 2019, the STAR Market aims to promote the innovation-driven and high-quality economic development, and pilots in the registration system reform and market making mechanism. In just four years, the STAR Market has been remarkably successful in attracting international participation by expanding its product ecosystem and broadening channels for foreign investors. According to SSE, nearly 4% of total shares are currently held by foreign ownership, which contributes to more than 10% of total trading volume.
Since the beginning of this year, the SSE has organized a number of activities to connect with overseas investors, including 12 corporate roadshows covering a range of science and technology sectors. E Fund recently joined the other 50 global financial institutions in attending the STAR Market's anniversary web event, showcasing its dedication to continue at the forefront of financial innovation and international collaboration.
The STAR Market served diverse investment needs from both domestic and foreign investors with the index system, consisting of STAR 50 Index and STAR Growth Index, which are positioned to capture the growth potential of STAR Market-listed companies with the largest market capitalization and with the highest overall growth performance respectively.
While the STAR 50 Index has seen rapid growth in terms of the number of relevant products and the amount of assets which, based on Wind data, surpassed RMB 100 billion (USD 13.8 billion) in three years' time, the STAR Growth Index was introduced last year and differentiated itself with focus on short- and medium-term profit growth. Among the notable offerings from E Fund are E Fund SSE STAR 50 ETF, which was included in the ETF Connect program in July, and E Fund SSE STAR Growth ETF, which was launched on August 14th.
About E Fund Management
Established in 2001, E Fund Management Co., Ltd. ("E Fund") is a leading comprehensive fund manager in China with close to RMB 3 trillion (USD 414 billion) under management. It offers investment solutions to onshore and offshore clients, helping clients achieve long-term sustainable investment performances. E Fund's clients include both individuals and institutions, ranging from central banks, sovereign wealth funds, social security funds, pension funds, insurance, and reinsurance companies, to corporates and banks. Long-term oriented, it has been focusing on the investment management business since inception and believes in the power of in-depth research and time in investing. It is a pioneer and leading practitioner in responsible investments in China and is widely recognized as one of the most trusted and outstanding Chinese asset managers.
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