Amundi targets Asia investors with first HK-domiciled ETF
European asset manager Amundi has launched its first Hong Kong-domiciled exchange-traded fund.
The vehicle, which tracks 35 large-cap stocks covered by a Hang Seng index, marks Amundi’s debut ETF offering in Asia.
Money in ETFs across the region has tripled over the past five years, driven by pension funds, other institutions and retail investors seeking low cost products.
Amundi, already a top five ETF provider in Europe, considers Asia as its second-home market.
Matthieu Guignard, head of capital markets for Amundi’s ETF, indexing & smart beta, said the firm aims to become a reference ETF provider for the continent's institutional and retail investors.
“We are now bringing to local investors passive strategies which offer more choice and are a complement to our current, active strategies,” added Xiaofeng Zhong, chief executive of Amundi North Asia.
Amundi aims to reach an AuM figure of $100bn by 2017 for its range of ETFs, indexing and smart beta products, up from $60bn in the final quarter of 2015.
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