KUALA LUMPUR, Oct 30 (Bernama) -- CSOP Asset Management Limited (CSOP) announced it is part of the introduction of the Albilad CSOP MSCI Hong Kong China Equity exchange-traded fund (ETF) (symbol: 9410) on the Saudi Stock Exchange (Tadawul) on Oct 30.
“CSOP has always been committed to enriching the ETF ecosystem in Hong Kong, and now we will continue our efforts to bring products with China exposure to the investors in the Middle East area,” said CSOP Chief Executive Officer (CEO), Ding Chen in a statement.
Meanwhile, Albilad Capital CEO, Zaid AlMufarih said: “By partnering with CSOP, we are opening a new avenue for investors to engage with the dynamic growth of China through Hong Kong, all while adhering to Shariah principles. This initiative is more than an investment opportunity; it is a step towards a more interconnected global financial landscape.”
The Albilad CSOP MSCI Hong Kong China Equity ETF will invest at least 95 per cent of its assets in the CSOP MSCI HK China Connect Select ETF (ticker: 3432.HK) listed on the Hong Kong Stock Exchange (HKEX), marking a milestone as the first ETF in Saudi Arabia to track the Hong Kong equity market.
The Albilad CSOP MSCI Hong Kong China Equity ETF is set to be the largest ETF in the Middle East, making its debut with an initial size exceeding US$1.2 billion. (US$1=RM4.36)
As the investment manager of 3432.HK, CSOP has joined forces with Albilad Capital to offer this captivating investment opportunity, allowing investors in Saudi Arabia to tap into the dynamic and diverse Chinese economy.
The launch of the Albilad CSOP MSCI Hong Kong China Equity ETF marks another significant milestone for CSOP in its proactive engagement in the financial bilateral collaborations between China and Saudi Arabia. This, in turn, bolsters the evolution of Hong Kong's capital market as a global financial hub.
Looking forward, CSOP will persist in collaborating with business partners to carry out investor education, present top-tier Hong Kong stocks to the investing public of the Middle East, and introduce Middle Eastern investments to Hong Kong, which will cultivate a more profound mutual comprehension between China and the Middle East.
-- BERNAMA
