Published by Asia Asset Management – 16th Nov 2018
Van Eck Associates lists China ETF on Australian bourse
Van Eck Associates Corporation listed its Van Eck Vectors China New Economy ETF on the Australian Securities Exchange on November 9.
The ETF allows Australian investors to access a diversified portfolio of profitable and fast- growing China A-shares via a single trade on the ASX, the company says in a statement on the day of the listing.
The fund tracks the CSI MarketGrader China New Economy Index, which targets the most fundamentally sound Chinese companies in the consumer discretionary, consumer staples, healthcare and technology sectors, selecting A-shares based on 24 fundamental indicators across four analytical categories – growth, value, profitability and cash flow.
US-based Van Eck Associates had US$47 billion of assets under management at the end of June 2018.
Malaysia’s Maybank Asset Management, Schroders Singapore introduce new funds
Malaysia’s Maybank Asset Management Group (MAMG) and global asset manager Schroder Investment Management (Singapore) Ltd (Schroders Singapore) have teamed up to launch two discretionary funds for high-net-worth investors.
The Global High Dividend Equity Portfolio and Global High Conviction Portfolio funds were launched on November 13. They will be managed by MAMG’s unit Maybank Asset Management Malaysia while Schroders Singapore is the investment adviser, the companies say in a statement on the day of the launch.
According to the companies, the funds are part of their “long-term strategic partnership” to “co-develop a range of specialist investment solutions for the growing and increasingly sophisticated wealth market in Malaysia”.
The minimum investment in the two funds until the end of the year is 3 million ringgit (US$713,272). This will be increased to 5 million ringgit after December 31.
MAMG had 33.7 billion ringgit of assets under management as at September 30, 2018.
Malaysia’s Public Mutual unveils US equity fund
Malaysia’s Public Mutual Bhd has launched an equity fund that will invest in index, blue chip and growth stocks in the US.
The Public US Equity Fund aims to tap the growing US economy underpinned by a steady job market, rising wage growth and growing consumer confidence, the company says in a statement on November 13, when the fund was launched.
The issue price for the fund is 25 sen (5.94 US cents) per unit during the initial offer period from November 13 to December 3.
The minimum initial investment is 1,000 ringgit, and additional investments are at a minimum 100 ringgit.
Public Mutual had 83.4 billion ringgit of assets under management as at September 30, 2018.
India’s HDFC Mutual Fund launches closed-end fund
India’s HDFC Mutual Fund has launched the HDFC FMP 1,246 days, a closed-end fund.
The objective of the fund is to generate income by investing in debt or money market instruments and government securities, the company says in a statement on November 9, when the fund was launched.
The closing date of the fund was November 13 and the minimum subscription amount was 5,000 rupees (US$69.18).
