CSOP Asset Management unveils $1bn Saudi Arabia ETF in Hong Kong By Investing.com
[ad_1]
HONG KONG – In a significant move to deepen financial ties between Asia and the Middle East, CSOP Asset Management has launched the first-ever CSOP Saudi Arabia ETF on the Hong Kong exchange. The fund, which debuted with an impressive initial capital of $1 billion, is part of broader efforts to foster global investment engagements that align with the economic diversification goals of Saudi Vision 2030.
The Public Investment Fund, Saudi Arabia’s sovereign wealth fund, played a critical role as a major anchor investor in this pioneering initiative. This launch marks a key milestone for CSOP Asset Management, a subsidiary of China Southern Fund Management, reflecting the growing interest in strengthening economic relationships between regions.
Hong Kong’s Chief Executive John Lee has been actively pursuing closer ties with Middle Eastern countries, particularly Saudi Arabia, to spur economic growth. The Securities and Futures Commission’s Christina Choi emphasized the importance of regulatory collaboration to introduce more Hong Kong funds into the Saudi market. Meanwhile, Tony Wong from CSOP Asset Management noted the balanced origins of investment in the new ETF and anticipated an uptick in market liquidity.
In a related development, discussions are underway between the Shenzhen Stock Exchange and Saudi Tadawul Group to create an ETF Connect scheme. This scheme would facilitate cross-listing opportunities for ETFs on Chinese and Hong Kong exchanges, further integrating the financial markets of both regions.
The concerted efforts by various stakeholders underscore a strategic push to enhance financial cooperation and market access across continents. The introduction of the CSOP Saudi Arabia ETF is expected to open new avenues for investors and contribute to the dynamic landscape of international finance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
[ad_2]
Source link
HONG KONG – In a significant move to deepen financial ties between Asia and the Middle East, CSOP Asset Management has launched the first-ever CSOP Saudi Arabia ETF on the Hong Kong exchange. The fund, which debuted with an impressive initial capital of $1 billion, is part of broader efforts to foster global investment engagements that align with the economic diversification goals of Saudi Vision 2030.
The Public Investment Fund, Saudi Arabia’s sovereign wealth fund, played a critical role as a major anchor investor in this pioneering initiative. This launch marks a key milestone for CSOP Asset Management, a subsidiary of China Southern Fund Management, reflecting the growing interest in strengthening economic relationships between regions.
Hong Kong’s Chief Executive John Lee has been actively pursuing closer ties with Middle Eastern countries, particularly Saudi Arabia, to spur economic growth. The Securities and Futures Commission’s Christina Choi emphasized the importance of regulatory collaboration to introduce more Hong Kong funds into the Saudi market. Meanwhile, Tony Wong from CSOP Asset Management noted the balanced origins of investment in the new ETF and anticipated an uptick in market liquidity.
In a related development, discussions are underway between the Shenzhen Stock Exchange and Saudi Tadawul Group to create an ETF Connect scheme. This scheme would facilitate cross-listing opportunities for ETFs on Chinese and Hong Kong exchanges, further integrating the financial markets of both regions.
The concerted efforts by various stakeholders underscore a strategic push to enhance financial cooperation and market access across continents. The introduction of the CSOP Saudi Arabia ETF is expected to open new avenues for investors and contribute to the dynamic landscape of international finance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
About The Author
