CHICAGO, July 13, 2016 /PRNewswire/ -- Zacks Index Services is pleased to announce the launch of the Zacks New China Index. This innovative index offers strategic exposure to select companies and sectors whose primary business has been targeted for growth according to the 13th China Five Year Plan (Plan), which was released by the government of China. The Index will serve as the basis for the KraneShares Zacks New China ETF trading on the New York Stock Exchange under the symbol KFYP.
The Zacks New China Index employs multi-factor, proprietary selection rules to identify constituents that are expected to benefit from the Plan. The Index includes publicly listed, China-based companies trading in Mainland China, Hong Kong as well as the United States. The Index, which is comprised of 40 constituents, is modified equal weight and reconstituted once a year.
Jamie Adams, Managing Director of Zacks Index Services, said "we are excited to partner with KraneShares, a firm with a deep and thorough understanding of the intricacies of the China market." Ms. Adams further stated that "this newly-introduced and unique product utilizes a multi-factor approach to invest in a strategy that focuses on specific companies of targeted industries listed in the China Five Year Plan. In essence, the collaboration will bring together Krane Funds' established expertise in the China market with Zacks expert research capabilities."
About Zacks Index Services
Zacks Index Services, a division of Zacks Investment Management (ZIM), creates and maintains proprietary, quantitative portfolio strategies that are licensed to product sponsors and serve as the basis of investment products such as ETFs, unit investment trusts, and closed-end funds. ZIM, a wealth management boutique, is a leading expert on earnings and using earnings estimates in the investment process. ZIM is a wholly owned subsidiary of Zacks Investment Research, one of the largest providers of independent research in the U.S. For more information on Zacks Index Services please visit www.zacksindexservices.com.
About Krane Fund Advisors
Krane Fund Advisors is an asset management company focused on providing investors with strategies that capture China's importance as an essential element of a well-designed investment portfolio. Krane's ETFs seek to deliver global investors with opportunities emphasizing the next-wave of China's development, while preparing them for major advancements such as the inclusion of China's A-share market into global indexes, and the recognition of the renminbi as a reserve currency. For more information about Krane Fund Advisors please visit www.kraneshares.com.
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Disclosure: This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment or strategy is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice.
The Summit Zacks Global Water Index is comprised of 30 to 50 constituents selected from a universe of U.S. and international companies with a significant portion of their business activities dedicated to the global water industry. The stocks are selected using a quantitative, rules-based methodology developed by Zacks Index Services. An investor cannot invest directly in an Index. The volatility of the benchmark may be materially different from the individual performance obtained by a specific investor.
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SOURCE Zacks Investment Management