SINGAPORE, Dec 1 (Bernama-BUSINESS WIRE) — CSOP Huatai-PineBridge SSE Dividend Index ETF (Stock Code: SHD) lists on 1 December 2023 on Singapore Exchange (SGX Group). The listing price for SHD is fixed at SGD $1.00 per share, with a trading lot of 1 share and annual management fee of 0.89%. SHD is a feeder fund, which will invest at least 90% of its Net Asset Value in the Huatai-PineBridge SSE Dividend Index ETF, referred to as the “Underlying Fund”. This investment will be made directly and/or indirectly via the QFI status granted to CSOP Asset Management Pte. Ltd. (the “Manager”) and/or through any permissible means available to the fund under the prevailing laws and regulations. Listed in 2006, the Underlying Fund is currently the largest dividend ETF in mainland China, with AUM of RMB 16.2 billion as of 30th September 20231.
Dividend strategies often serve as a cushion amid volatile market environments. The SSE Dividend Index comprises of 50 high quality dividend-paying companies listed on the Shanghai Stock Exchange (SSE) as its constituents. The SSE Dividend Index has a total market capitalization of RMB 129.6 billion, covering energy, financials, industrials, materials, and various other sectors2. With a current PE ratio of less than 6x, its valuation is considerably lower in comparison with other similar dividend indexes and core broad-based A-share indexes3. SSE Dividend Index stands out with competitive year to date (YTD) total return of 3.64% with better estimated dividend yield of 6.06% when compared to other stocks listed on SSE, as well as top stocks listed in Singapore and Hong Kong4.