China’s securities regulator has given the nod to the first four exchange traded funds to track Shanghai Stock Exchange’s Nasdaq-style Star Market.
China Asset Management, E Fund Management, Huatai-PineBridge Fund Management and ICBC Credit Suisse Asset Management received approval from the China Securities Regulatory Commission last Thursday for their respective of Star 50 ETF and feeder fund strategies, according to separate announcements made by the firms.
The ETFs will be the first to track the newly launched Science and Technology Innovation Board 50 Index, dubbed the SSE Star 50 Index which was incorporated jointly by the Shanghai bourse and China Securities Index a year ago following the board’s trading debutlast July.
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