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Exchange-traded fund lets Chinese to invest in German shares
By Ye Zhen |
September 20, 2012, Thursday
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Online Edition
Online Edition
STOXX Ltd, the world's fourth largest index provider, today signed an agreement with HuaAn Funds to launch an exchange-traded fund (ETF) that tracks Germany's benchmark DAX index and gives Chinese investors access to German firms.
Representing about 80 percent of market capitalization in Germany, DAX replicates the performance of 30 German companies traded on the Frankfurt Stock Exchange, including BMW, Volkswagen, and Siemens.
DAX 30 ETF is valuable to investors because the index has climbed 24 percent so far this year, according to Li Qing, CEO of HuaAn Funds, which is based in Shanghai.
"The introduction of the DAX 30 ETF provides domestic investors a transparent and low-cost investment tool to share the growth of German blue chips," Li said.
Representing about 80 percent of market capitalization in Germany, DAX replicates the performance of 30 German companies traded on the Frankfurt Stock Exchange, including BMW, Volkswagen, and Siemens.
DAX 30 ETF is valuable to investors because the index has climbed 24 percent so far this year, according to Li Qing, CEO of HuaAn Funds, which is based in Shanghai.
"The introduction of the DAX 30 ETF provides domestic investors a transparent and low-cost investment tool to share the growth of German blue chips," Li said.
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