London Stock Exchange welcomes Deutsche Asset & Wealth Management, and Harvest Global Investments Limited
London Stock Exchange today welcomed Deutsche Asset & Wealth Management, one of the world’s largest providers of exchange-traded funds (ETFs) via its db X-trackers ETFs, and Harvest Global Investments Limited, China’s second largest asset manager, to the open its markets.
The two firms have partnered to launch Europe’s first direct, physical replication ETF on China’s important CSI300, ‘A-shares’ index. The launch of the db x-trackers Harvest CSI300 Index UCITS ETF (DR), which begins trading on the London stock Exchange today, follows the successful listing of a db X-trackers physical ETF tracking the CSI300 Index in New York in November. The US-listed fund has generated significant interest and has quickly garnered strong inflows – the fund raised over $100 million in initial investment, and by the end of 2013 had broken the $200 million in assets mark.
The CSI300 Index tracks the performance of the 300 largest and most liquid A-shares stocks.
Reinhard Bellet, DeAWM’s Head of Passive Asset Management, commented: “Providing investors with the first European direct investment ETF on China’s key A-shares equity benchmark, the CSI300, is a major achievement, and can be seen as a significant step in opening up the world’s second largest economy to European investors.”
Choy Peng Wah, Chief Executive of Harvest Global Investments Limited, commented: “The listing of our physical replication ETF tracking the CSI300 Index in the United States has been rightly seen as ground breaking, and we are pleased to follow this up by bringing this opportunity to European investors under the UCITS regime.”