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No joke: Hong Kong manager launches 'HAHA' on NYSE as it gains toehold in US ETF market
While western firms scramble to set up shop in the region, Hong Kong-based CSOP revs up its quest to dominate New York.
Hot on the heels of its first New York-listed ETF – the CSOP FTSE China A50 ETF (ticker: AFTY) – the asset manager is set to launch two more ETFs on the NYSE, according to a statement.
Its second ETF, the CSOP MSCI China A International Hedged ETF (ticker: CNHX), aims to track the performance of the MSCI China A International Index while neutralizing the ups and downs of the yuan relative to the greenback. The third one -- the amusingly tickered CSOP China CSI 300 A-H Dynamic ETF (ticker: HAHA) -- seeks to track the performance of the CSI 300 Smart Index.
Apparently, HAHA will be the first time anyone combined A and H-shares together in one product, and was specifically engineered “for the vast number of investors who have only invested in offshore H shares ETFs in the U.S.” Interestingly, the fund was also structured to arb A-shares and H-shares price differentials, which sounds neat. Let’s just hope investors won’t find any irony involved with its ticker.
Joking aside, this actually sounds like a great opportunity for U.S. investors, as Louis Lu, a portfolio manager at CSOP, had to say:
“After launching our first FTSE China A50 ETF in the U.S. market, we are proud to bring two more exciting products to U.S. investors. With the expedited opening steps of China's capital market, we maintain a constructive view on China's A-shares market and think it is good timing for U.S. investors to increase their holdings of China A-shares.”
Photo: Thomas Hawk