The curtain is rising on a new chapter of investing, as plans to launch the first Chinese version of an S&P 500 ETF begin to take shape, according to a mid-March announcement.
Bosera Asset Management, a Shenzhen, China-based firm with $30.8 billion under management, has obtained rights from Standard & Poor’s to launch an S&P 500 ETF specifically designed for investors there, a milestone for Asia’s most populous nation, where access to foreign markets has been limited by Chinese law. Terms weren’t disclosed.
The S&P 500 is the world’s most widely used index, with nearly $1 trillion indexed to it.
S&P didn’t say when Bosera might roll out the Chinese version of the S&P ETF.
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