Guotai Asset Management Co. Ltd.
18.04.2013 19:30
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SHANGHAI, China, 2013-04-18 19:30 CEST (GLOBE NEWSWIRE) --
Guotai Asset Management Co. Ltd ('Guotai') has announced that the Guotai
NASDAQ-100 Exchange Traded Fund (Symbol: 513100), China's first cross-border
exchange-traded fund (ETF) product, will soon launch on the Shanghai Stock
Exchange. As a result, individual investors in China will be able to invest in
shares traded on The NASDAQ Stock Market as easily as buying a primary common
stock. This significantly enhances the trading efficiency of investment in U.S.
shares and enables investors to avoid the lengthy cycle of redeeming ordinary
Qualified Domestic Institutional Investor funds. Moreover, as it is traded like
an ordinary ETF product on the secondary market, transaction costs are reduced.
The launch of the Guotai NASDAQ-100 Exchange Traded Fund is the result of an
agreement between Guotai and The NASDAQ OMX Group, and is a milestone for the
Shanghai Stock Exchange in its trend toward internationalization.
At its inception 22 years ago, the Shanghai Stock Exchange had a stated goal of
becoming an international exchange. In this sense, the launch of Guotai
NASDAQ-100 ETF is long overdue. In fact, the Shanghai Stock Exchange signed its
first Memorandum of Understanding (MOU) with a foreign exchange in 1992. Its
relations with NASDAQ OMX date back to 1995. From those early days, the
Shanghai Stock Exchange has established cooperative partnerships with 33
exchanges around the globe.
The building of Shanghai as an international financial center is a gradual
process that requires constant innovation. The Shanghai Stock Exchange is
gradually enabling investors to have one-stop allocation of both foreign and
domestic assets in a local market. This could not have been possible without
active participation by fund companies with an international vision like
Guotai.
The launch of the Guotai NASDAQ-100 Exchange Traded Fund is also a milestone
for the growth of the international ETF market.
'There is a growing demand for overseas products in China and the Shanghai
Stock Exchange and Guotai Asset Management have paved the way for individual
and institutional investors in China to access 100 of the world's largest and
most dynamic non-financial companies including Baidu, Apple, Microsoft and
Starbucks,' said NASDAQ OMX Vice President Robert Hughes. 'We applaud the
Shanghai Stock Exchange and Guotai for pursuing this innovative investment
solution that had not been previously available to investors in China.'
The NASDAQ-100 Index, which includes the world's most innovative high-tech
growth companies such as Apple and Google, is considered one of the best
benchmark indexes in this century. According to statistics by Bloomberg, up to
December 31, 2012, the NASDAQ-100 Index's accumulated rise in the past decade
reached 163.8%, thanks to competitiveness and growth potential of its composite
stocks in the global market, approximately four times of Shanghai Composite
Index during the same period. The sound trend of the NASDAQ-100 Index also lays
the foundation for the follow-up performance of the Guotai NASDAQ-100 Exchange
Traded Fund.
The Guotai NASDAQ-100 ETF is also the second among three major innovative
products underwritten by Guotai since the end of last year. The government bond
ETF launched less than a month ago has become the most heavily traded ETF
product on the Shanghai and Shenzhen Stock Exchanges. This time, the launch of
the Guotai NASDAQ-100 ETF realizes a triple win situation: facilitating the
Shanghai Stock Exchange's internationalization, NASDAQ's goals in China and
consolidating Guotai's reputation as China's endorser of the NASDAQ-100 Index.
About GUOTAI AMC
As one of the first professional fund management companies in China, Guotai
Asset Management Co., Ltd was set up on March 5, 1998, with a registered
capital of RMB 110 million. So far, the company is managing 13 mutual funds
(including three closed-end funds and 10 open-end mutual funds) and several
Social Security Fund (SSF) portfolios, adding up to approximately RMB60 billion
worth of asset management. The company has returned to investors over RMB 7
billion with dividend over the past ten years.
NASDAQ(r), NASDAQ-100(r), and NASDAQ-100 Index(r) are registered trademarks of
The
NASDAQ OMX Group, Inc. (which collectively with its affiliates is referred to
as 'NASDAQ OMX') and are licensed for use by Guotai Asset Management Co., Ltd.
('Guotai'). THE GUOTAI ETF HAS NOT BEEN PASSED ON BY NASDAQ OMX AS TO ITS
LEGALITY OR SUITABILITY. THE GUOTAI ETF IS NOT ISSUED, ENDORSED, OR SOLD BY
NASDAQ OMX, AND NASDAQ OMX MAKES NO WARRANTIES AND BEARS NO LIABILITY WITH
RESPECT TO THE GUOTAI ETF.
The information contained above is provided for informational and educational
purposes only, and nothing set forth above should be construed as investment
advice, either on behalf of a particular investment product or an overall
investment strategy. ADVICE FROM A SECURITIES PROFESSIONAL IS STRONGLY ADVISED.
CONTACT: GUOTAI AMC Media Contact:
Li Yebin
Office: 86 21 3856 1704
Fax: 86 21 3856 1800
Mobile: 13601634034
EMAIL: yebin_li@gtfund.com
News Source: NASDAQ OMX
18.04.2013 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Guotai Asset Management Co. Ltd.
China, Volksrepublik
Phone:
Fax:
E-mail:
Internet:
ISIN: US9902574121
WKN:
End of Announcement DGAP News-Service
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DGAP-News: Guotai NASDAQ-100 Exchange Traded Fund to Launch on Shanghai Stock Exchange
| Source: EQS Group AG