SHANGHAI, China, April 18, 2013 (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®, NASDAQ-100®, and NASDAQ-100 Index® 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:
Office: 86 21 3856 1704
Fax: 86 21 3856 1800
EMAIL: [email protected]
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