HSBC Asset Management announced this week that it has launched the first A-share mutual fund, giving Hong Kong retail investors access to the Chinese mainland's US $480 billion A-share market.
According to a South China Morning Post report on the launch of the HSBC China Momentum Fund, set to take place on October 28, the fund will be investing 40% of its planned US$60 million in assets in the mainland's A-share market.
Weightings of 20% and 40% have also been assigned to mainland listed foreign currency B-shares, and Hong Kong listed H-shares respectively.
The A-shares market, which accounts for the majority of Chinese offerings, comprises around 1,250 listed companies. The market was previously only available to domestic investors, but has now been opened to investment by qualified foreign institutional investors.
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