FTSE China A50 Renminbi reports $771.1m AUM

Global index provider FTSE Group reported today that FTSE China A50 Renminbi qualified foreign institutional investors (RQFII) ETF from CSOP Asset Management has become the largest RQFII ETF, with $771.1m assets under management.

The initial RQFII quota of 5bn renminbi was allocated on August 28, and fully taken up on the same day.

CSOP Asset Management Limited is the Hong Kong incorporated subsidiary of China Southern Asset Management, one of the top five asset managers in China.

CSOP’s FTSE China A50 ETF is the first physical ETF based on the FTSE China A50 Index and offers investors the most direct channel for participation in the China bluechip market.

The FTSE China A50 Index represents the 50 largest A-share companies listed on Shanghai and Shenzhen Stock Exchanges and is tracked by both domestic investors and internationally through a range of QFII investment portfolios.

The index is based on FTSE’s methodology which includes free float adjustment and liquidity screens and is managed in accordance with a clear and transparent set of index rules.

“This launch has been more successful than anticipated and demonstrates the continuing rapid growth in international demand for China-related investments. At the same time it accelerated the pace of the internationalisation of the renminbi,” said Ding Chen, chief executive at CSOP.

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