UOBAM (UOB Asset Management) will list a China A-shares exchange traded fund (ETF) on the Singapore Exchange on 12t November 2009, allowing retail investors to invest in China’s top 50 companies.
This will be the first China A-shares ETF to be listed in Singapore.
UOB Kay Hian, the brokerage arm of UOB, will start offering the ETF to retail investors from 29th October 2009 with an initial target to raise $60 million.
Access to A-shares market in China is traditionally limited to Chinese nationals and Qualified Foreign Institutional Investors (QFIIs) approved by the Chinese regulator.
The United FTSE/Xinhua China A50 ETF will be offered in Singapore dollar denomination and is expected to be priced between S$2.40 and S$2.50 a unit.