NEW YORK, March 12, 2015 /PRNewswire/ -- CSOP Asset Management Limited ("CSOP" or the "Company"), a leading offshore Chinese asset manager with the largest Renminbi Qualified Foreign Institutional Investor ("RQFII") quota, announced that its CSOP FTSE China A50 ETF (the "Fund") will begin trading today on the NYSE Arca under the ticker "AFTY". The Fund tracks the performance of the FTSE China A50 (CNHUSD) Net Total Return Index (the "Index") which provides exposure to 50 largest stocks on the Shanghai and Shenzhen Exchanges. The Fund is the first Exchange Traded Fund ("ETF") listed independently in the United States by a Chinese asset management company. The Fund has debuted with more than $237 million in assets and 13.96 million shares as the largest initial capital investment among all US listed equity ETFs since 2007.
Chinese equity market was among the world's best performing markets in 2014; the Shanghai Composite Index recorded more than 60% Year-to-Date return. The turnover of A-Share market reached a historical high and China's equity market made it as the world's second largest equity market. The ongoing Renminbi (RMB) internationalization, together with the recent liquidity injection and interest rate cut by the People's Bank of China (PBoC), will allow China's capital market to further open up and grow by attracting foreign investors. In addition, A-Share market offers diversification opportunities* to global investors due to its low correlation with regional and world portfolios.
By tracking the FTSE China A50 (CNHUSD) Total Net Return Index, the Fund offers investors exposure to the 50 largest A-Share companies by full market capitalization on the Shanghai and Shenzhen Exchanges. The Fund tracks the performance of China's onshore market while allowing investors to trade in US dollar during US trading hours, granting investors efficient trading and liquidity. With this listing, CSOP's FTSE China A50 ETF series now trades on exchanges in Asia, Europe, and North America, providing investors with round-the-clock trading platforms for Chinese equity market.
"The listing of the CSOP FTSE China A50 ETF on the NYSE Arca offers US investors access to a transparent, efficient, and liquid solution through which they can participate in China's exciting success story**," commented Ms. Ding Chen, CSOP's Chief Executive Officer. "Our local market knowledge and expertise coupled with our status as the world's largest RQFII makes CSOP the partner of choice for investors around the world. The extension of our FTSE China A50 series into North America further enhances CSOP's offering and will serve as a cost effective*** and easy-to-understand product for institutional and individual investors who want to tap into China's A-Share market."
To commemorate this listing, CSOP's senior management team will ring the Opening Bell® at the New York Stock Exchange on Monday, March 16, 2015.
*Diversification doesn't protect against losses.
**ETFs are transparent and liquid as they are exchange-traded and holdings are available daily on www.csopasset.us.
***Ordinary brokerage commissions apply.
An investor should consider the Funds investment objectives, risks, and charges and expenses carefully before investing. To obtain a prospectus containing this and other information, please call 1-844-209-2937 or download the file from www.csopasset.us. Read the prospectus carefully before investing.
- ETF Investing in China A-share market involves risks specific to China, including risks related to currency fluctuations, limited liquidity, less developed or less efficient trading markets, less government regulation, adverse political, economic and legal environment. Applicable Chinese tax rules to the ETF is at present uncertain. Uncertainties in the Chinese tax rules could have an adverse impact on ETF performance. In addition, the ETF may be more volatile than ETFs investing in a broadly diversified portfolio and developed markets.
- ETF shares are bought and sold at market price through exchange trading rather than NAV and are not individually redeemable. Shares may trade at a premium or discount to their NAV in the secondary market. Brokerage commissions will reduce returns. Returns for actual ETF investments may differ from what is shown on the website because of differences in timing, the amount invested, and fees and expenses.
- Index returns are for reference only and do not reflect any management fees, brokerage expenses, transaction costs or expenses. Indexes are unmanaged and investors cannot invest directly in an index. Index returns assume that dividends have been reinvested.
CSOP FTSE China A50 ETF is managed by CSOP Asset Management Limited (the "Adviser"), and distributed by ALPS Distributors, Inc. ("ALPS").
Control Number: CSO000109, expiration date March 31, 2015.
About CSOP Asset Management Limited
CSOP Asset Management Limited ("CSOP") was founded in 2008 as the first offshore asset manager set up by a regulated asset management company in China. With a dedicated focus on China investing, CSOP manages public and private funds, as well as providing investment advisory services to Asian and global investors. It is the largest RMB Qualified Foreign Institutional Investor ("RQFII") asset manager globally. As of 31 Dec 2014, CSOP had US$ 7.08 billion in assets under management.
CSOP Asset Management Limited
CSOP Asset Management Limited
 Source: Bloomberg, March 11, 2015.
 Source: Bloomberg, March 4, 2015.
 Source: Bloomberg, December 31, 2014
SOURCE CSOP Asset Management Limited