|By PR Newswire||
|January 28, 2014 03:30 AM EST||
LONDON and NEW YORK, Jan. 28, 2014 /PRNewswire/ -- Source, an asset manager and one of the market leading European providers of Exchange Traded Products (ETPs), and CSOP Asset Management ("CSOP"), a leading Hong Kong-based provider of on-shore Chinese exposure, have filed with the SEC to launch a fund providing exposure to shares in Chinese companies. The ETF will aim to track the performance of the FTSE China A50 Index, which comprises the top 50 companies in mainland China. The index is a recognised benchmark for 'A shares' and has been calculated by FTSE since 2003. The intention of Source and CSOP to enter the US ETF market follows a similar, successful, co-operation in Europe.
In Europe, Source offers market leading equity, fixed income, commodity and alternative market exposure through expertly engineered Exchange Traded Funds (ETFs) and Exchange Traded Commodities (ETCs). Since its launch in April 2009, Source has successfully collected over US$15 billion in total assets and its products have traded over US$510 billion.
CSOP was the first Hong Kong-based asset manager to be established by a regulated Chinese asset manager. CSOP have delivered a number of successful products in Hong Kong to reference Chinese 'A shares' market. The 'A shares' market is widely viewed as the most authentic Chinese equity market. A shares are shares of mainland Chinese companies, traded on mainland Chinese exchanges and denominated in Chinese renminbi (RMB). This market represents over 4% of the global equity market but has been difficult to access, particularly for smaller investors. CSOP is the largest RMB Qualified Foreign Institutional Investor ("RQFII") asset manager globally.
Peter Thompson, Chief Strategy Office at Source, commented: "The FTSE China A50 Index has established itself as the leading reference index for China exposure globally. We are pleased to be filing with the SEC for a fund tracking the same highly sought after benchmark."
Tel: +44 20 3370 1102
Michael John Lytle
CTF Corporate & Financial Communication
Tel: +44 20 3540 6456
Tel: +852 3406 5613
Notes to Editors
Source is an asset manager and one of Europe's leading Exchange Traded Product (ETP) providers, with over US$15 billion in assets under management. Since launch in April 2009, Source has focused on delivering incremental value to European ETP investors through a combination of enhanced indices, strong partnerships, improved structuring and active trading. Its range of just under 80 products gives investors the ability to gain exposure to equities, commodities, fixed income and alternative assets, through ETF and ETC structures that provide enhanced liquidity, increased transparency and reduced counterparty risk.
Further information about Source is available at www.source.info.
CSOP Asset Management Limited ("CSOP") was founded in 2008 as the first offshore asset manager set up by a regulated asset management company in China. With a dedicated focus on Chinainvesting, CSOP manages public and private funds, as well as providing investment advisory services to Asian and global investors. It is the largest RMB Qualified Foreign Institutional Investor ("RQFII") asset manager globally. As of 30 Nov 2013, CSOP had US$ 5.5 billion in assets under management.
Further information about is available at www.csopasset.com.
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