HONG KONG, Aug 28 (Bernama-BUSINESS WIRE) — CSOP Asset Management Limited (“CSOP”) is proud to announce the listing of CSOP Hang Seng TECH Index ETF (stock ticker: 3033.HK) on Hong Kong Stock Exchange. As the first ETF tracking the newly launched Hang Seng TECH index, CSOP Hang Seng TECH Index ETF will enable global investors to catch the investment opportunities brought by the fast growing technology sector and the increasing number of technology companies that are listed in Hong Kong. With listing price at around HKD 7.5 per unit, trading lot of 200 and management fee of 0.99%, CSOP Hang Seng TECH Index ETF will start to trade on August 28, 2020. Upon inception, 3033.HK has received USD 24million initial investment.
Under the background of more and more Chinese technology giants choosing Hong Kong as the secondary listing place, Hang Seng TECH Index was launched on 27 July 2020 to track the 30 largest technology companies listed in Hong Kong. Designed as one of the flagship indices of Hang Seng Index Company Limited, the index consists of Hong Kong-listed companies that have high business exposure to selected technology themes, including internet, fintech, cloud, e-commerce and digital activities. Eligible stocks will be further filtered by criteria of whether they operate via a technology-enabled platform, their research and development expenses to revenue ratio, and their revenue growth. The qualified largest 30 stocks in terms of market capitalization will be selected as index constituents with quarterly review. In consideration of the upcoming sizable technology companies, a Fast Entry Rule will also be applied to make sure a timely inclusion of these qualified potential constituents. According to Hang Seng Indexes Company Limited’s back-testing data, the Hang Seng TECH Index would have achieved significant returns of 36.2% and 35.3% for the full year of 2019 and the first half of 2020 respectively.¹