{"id":90947,"date":"2024-10-28T00:00:00","date_gmt":"2024-10-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/28\/bank-albilad-to-debut-saudis-largest-etf-tracking-hong-kong-equities\/"},"modified":"2024-10-28T00:00:00","modified_gmt":"2024-10-28T00:00:00","slug":"bank-albilad-to-debut-saudis-largest-etf-tracking-hong-kong-equities","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/28\/bank-albilad-to-debut-saudis-largest-etf-tracking-hong-kong-equities\/","title":{"rendered":"Bank Albilad to debut Saudi\u2019s largest ETF tracking Hong Kong equities"},"content":{"rendered":"

Bank Albilad\u2019s CSOP MSCI Hong Kong China ETF is set to start trading on<\/strong> Tadawul this <\/strong>Wednesday,<\/strong> according to Bloomberg<\/a> and the South China Morning Post<\/a>. The ETF is going to Saudi Arabia\u2019s largest ETF to track Hong Kong-listed Chinese stocks. The fund will be launched in partnership with Hong Kong-based CSOP Asset Management<\/a>.The lender last week raised USD 1.3 bn for the fund through its securities arm, USD 800 mn<\/a> higher than what pundits had expected. <\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

REMEMBER: <\/strong>CSOP\u2019s Saudi Arabia exchange-traded fund (2830.HK<\/a> on Reuters) \u2014 the first ETF in Asia tracking Saudi equities \u2014 debuted in Hong Kong last year<\/a>, and is now trading 5.2% higher than on its first trading day at HKD 81.6.<\/p>\n

Facilitating access to Chinese stocks: <\/strong>The ETF aims to provide Saudi investors easier access to Chinese equities in local currency, allowing investments starting at SAR 10 in a fund that includes the 30 largest Sharia-compliant companies listed in Hong Kong. <\/p>\n

What CSOP said:<\/strong> \u201cThis strategy worked well as the Saudi ETF listing in Hong Kong, Shanghai and Shenzhen have been very successful, which helps establish trust among the regulators,\u201d said Ding Chen, CEO of CSOP Asset Management.<\/p>\n

Breaking it down: <\/strong>The ETF will invest in Chinese equities through the Hong Kong-domiciled CSOP MSCI HK China Connect Select ETF, which counts e-commerce firm Meituan and sportswear maker Anta Sports Products among its biggest holdings, but excludes companies like HSBC and Alibaba to maintain Sharia compliance. The feeder fund has fully built positions via the master fund. <\/p>\n

Another HK-focused ETF coming soon? <\/strong>Another ETF tracking Hong Kong stocks is set for launch before year-end by Saudi Awwal Bank\u2019s SAB Invest which lined up Capital Market Authority (CMA) approval to offer its Hang Seng Hong Kong ETF<\/a> on Tadawul. <\/p>\n","protected":false},"excerpt":{"rendered":"

Albilad Capital raised USD 1.3 bn for the ETF ahead of its listing<\/p>\n","protected":false},"author":1,"featured_media":90948,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2704],"tags":[3312,962,2419,503,10],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-90947","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-capital-markets","tag-albilad-capital","tag-bank-albilad","tag-capital-markets","tag-csop-asset-management","tag-enterpriseam-ksa","wpautop","entry"],"acf":{"mongo_id":"2e024ab5-805c-46cf-a10a-2ce2575373d8","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/2154.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Bank Albilad to debut Saudi\u2019s largest ETF tracking Hong Kong stocks","related_issue":[90942],"teaser":"Albilad Capital raised USD 1.3 bn for the ETF ahead of its listing","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.f3ec83eb-69d3-4d96-a3d8-e9e3af8c1da1.mp3"},"yoast_head":"\nBank Albilad to debut Saudi\u2019s largest ETF tracking Hong Kong equities - 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