MPFA approves ICBC CSOP FTSE Chinese Government and Policy Bank Bond Index ETF

KUALA LUMPUR, June 29 (Bernama) -- CSOP Asset Management Limited (CSOP) has announced that ICBC CSOP FTSE Chinese Government and Policy Bank Bond Index ETF (ticker: 3199. HK) was admitted to Index-Tracking Collective Investment Schemes (ITCIS) as the first Chinese government bond ETF approved by Mandatory Provident Fund Schemes Authority (MPFA) on June 23, 2022.

According to a statement, 3199.HK is the largest China government bond ETF in Hong Kong with asset under management of US$775 million, equivalent to around RMB 5.2 billion, rendering its leadership as one of the world’s largest Chinese government bond ETFs. (US$1 = RM4.399)

Since inception in February 2014 till end of May 2022, 3199.HK has achieved a steady return as high as 33.26 per cent in RMB term, equivalent annualised return of 3.54 per cent.

As an ITCIS fund now, 3199.HK is eligible to offer investment opportunities of China’s fast growing onshore government bond market to meet demands from both MPF scheme members and the industry.

CSOP, the most representative Chinese offshore asset manager, as well as an ETF leader in Asia, is known for its experiences and expertise in managing the Chinese government bond ETFs.

Melody He, Deputy CEO of CSOP comments: “As the leading Chinese government bond ETF issuer in the region, CSOP manages the largest Chinese government bond ETFs in Hong Kong and Singapore respectively, bridging China onshore government bond market with investors in the region.

“The inclusion to ITCIS is another milestone of 3199.HK. We believe 3199.HK, a transparent investment tool with relatively low cost, easy access and diversified bond holdings will meet the MPF scheme members’ demand.”

CSOP was founded in 2008 as the first offshore asset manager set up by a regulated asset management company in China. With a dedicated focus on China investing, CSOP manages public and private funds, as well as providing investment advisory services to Asian and global investors.

-- BERNAMA