Leveraged and inverse equity-traded funds (ETF)s managed by South Korea’s Mirae Asset Global Investments last month became the second most traded items in their category on the Hong Kong stock market.
Mirae Asset’s four ETFs backed by the Hang Seng China Enterprises Index (HSCEI) and the Hang Seng Index (HIS) that joined the local bourse on Mar. 14 in just a month commanded 23.9 percent in trade volume of leveraged and inverse ETFs.
Currently, five asset management firms have leveraged and inverse ETF products listed on the Hong Kong Stock Exchange. CSOP Asset Management, the Hong Kong affiliate of China Southern Asset Management maintains leadership with a market share of 47 percent in terms of trade volume. China AMC came third (23.7 percent), Samsung Asset Management (3.3 percent) and Hong Kong’s E Fund Management (2.1 percent).
Mirae Asset, which listed a KOSPI200 ETF in Hong Kong in 2011 for the first time as a Korean asset management firm, has focused on expanding its ETF business in the market. It has now 16 ETFs trading on the Hong Kong market.
Mirae Asset trades 223 ETFs in six countries, including Korea and Canada as of the end of March, with about 15.7 trillion won under its management. Net asset grew more than 3 trillion won last year alone.
By Kim Hyo-hye
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