Mirae Asset’s Horizons debuts two low-cost ETFs on Hong Kong exchange

Jun 26th, 2013 | By | Category: Equities

Mirae Asset Global Investments, manager of the Horizons exchange-traded funds (ETFs) brand, has launched two low-cost products on the Hong Kong stock exchange: the Horizons MSCI China ETF (3040) and the Horizons Hang Seng High Dividend Yield ETF (3110).

Mirae Asset’s Horizons debuts two low-cost ETFs on Hong Kong exchange

Horizons ETFs has introduced two new low-cost funds on the Stock Exchange of Hong Kong (pictured).

The funds provide exposure to the MSCI China and Hang Seng High Dividend Yield indices and are among Hong Kong’s cheapest ETFs, with total expense ratios of 0.25% and 0.38% respectively.

The MSCI China Index provides coverage of the large- and mid-cap segments of the Chinese market, including Chinese securities listed on the Hong Kong stock exchange and B-shares listed on the Shanghai and Shenzhen stock exchanges.

The Hang Seng High Dividend Yield Index comprises 50 constituents that aim to reflect the overall performance of high-yield equities (including REITs) listed in Hong Kong.

Laura Lui, Head of ETF at Mirae Asset Global Investments, said: “The significantly lower fees of these two new ETFs will allow investors to reduce costs and enhance index tracking precision, thereby maximizing total net returns over the long run.”

She added: “These ETFs enable investors to gain exposure to two high-quality indices supported by solid fundamentals and attractive market valuations. The MSCI China Index is an established benchmark widely followed by fund managers worldwide, while the Hang Seng High Dividend Yield Index can offer higher dividend yield and lower volatility than the Hang Seng Index.”

Jung Ho Rhee, Chief Executive Officer of Mirae Asset HK, commented: “The Horizons ETFs Series family is now one of the largest in Hong Kong by the number of exchange traded fund offerings, and these new launches demonstrate our commitment to delivering unique value and convenience to investors. The rapid growth of Hong Kong’s ETF market, one of the biggest in Asia, signifies investors’ desire for better transparency and liquidity while being able to reap the potential long-term growth that quality companies in these markets offer.”

The listing of these funds broadens Mirae Asset’s Hong Kong-listed product range, bringing the total number of funds within the range to 10. The first eight funds comprise the Horizons KOSPI 200 ETF, five Asian sector ETFs and two thematic consumer ETFs.

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