HONG KONG and BEIJING, Nov. 19, 2013 /PRNewswire/ -- S&P Dow Jones Indices, one of the world's leading providers of financial market indices, further strengthened its presence in China today as the first ever S&P 500-based ETF in China was launched by Bosera Asset Management. The ETF, a result of S&P Dow Jones Indices' license with Bosera Asset Management, is based upon the premier measure of U.S. stock market performance, the S&P 500, and enables Chinese investors to express their views on the U.S. market.
The launch of China's first ETF based upon the S&P 500 signals an acceleration of the ETF market and a larger and more diversified range of investment opportunities for China investors. The total asset under management of ETFs listed in mainland China (Shanghai and Shenzhen) rose to over 150 billion Yuan (about USD $25 billion) in Q3 2013 with close to 80 ETFs available in the market.
"S&P Dow Jones Indices is excited to be at the forefront of an evolving and robust financial market in China," says Alex Matturri, CEO of S&P Dow Jones Indices. "China is of great strategic importance to S&P Dow Jones Indices and our relationship with Bosera Asset Management is another example of our commitment to helping Chinese investors diversify their portfolios internationally and across a new range of cost efficient and liquid products. We look forward to supporting more innovation in China based on our index offerings."
Widely considered the leading gauge of U.S. equity market performance since it was first introduced in 1957, the S&P 500 has over $5.74 trillion benchmarked to it, with index assets comprising approximately USD 1.57 trillion of this total as of December 31, 2012. The S&P 500 includes 500 leading companies in various industries of the U.S. economy, capturing approximately 80% coverage of available market capitalization.
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SOURCE S&P Dow Jones Indices