RETAIL FUNDS | Contributed Content, Taiwan

Hang Seng first to dual-list Hong Kong ETFs in Taiwan

Two Hang Seng exchange-traded funds, Hang Seng Index ETF and Hang Seng H-Share Index ETF, became the first Hong Kong ETFs to dual-list in Taiwan.

The listing ceremony held at the Taiwan Stock Exchange was attended by Mrs Margaret Leung, Vice-Chairman and Chief Executive of Hang Seng; Mr Andrew Fung, General Manager, Head of Treasury and Investment at Hang Seng; Mrs Alexa Lam, Executive Director and Deputy Chief Executive Officer, Hong Kong Securities and Futures Commission; Mr Paul Chow, Chief Executive, Hong Kong Exchanges and Clearing Limited; Ms Jih-Chu Lee, Political Vice Chairperson, Taiwan Financial Supervisory Commission and Mr Chi Schive, Chairman, Taiwan Stock Exchange.

Officiating at the ceremony, Mrs Leung said: "Hang Seng is most delighted that two of our ETFs are the first two Hong Kong ETFs to dual-list in Taiwan. This major milestone in the development of regional ETF cross-listing will allow Taiwanese investors to directly invest in the ETFs available in the Hong Kong market. We look forward to further increasing our business visibility in Taiwan. We anticipate a wider variety of investment products will be offered in the market."

Under the dual-listing structure, HSBC Global Asset Management (Taiwan) Limited has been appointed as the master agent of the ETFs in Taiwan. Yuanta Securities has been appointed as the first Taiwan participating dealer of the ETFs. Additional Taiwan participating dealers are expected to be ppointed.

Hang Seng Index ETF and Hang Seng H-Share Index ETF were launched in Hong Kong on 13 September 2004 and 19 November 2003 respectively and spearheaded the development of Hong Kong’s ETF market. As at 13 August 2009, the total assets of Hang Seng Index ETF were HK$22.7 billion and those of Hang Seng H-Share Index ETF stood at HK$15 billion.

To celebrate the dual-listing of the two ETFs in Taiwan, from now until 30 September 2009, Hang Seng securities customers who trade Hang Seng Index ETF, Hang Seng H-Share Index ETF and Hang Seng FTSE/Xinhua China 25 Index ETF via automated trading channels, can enjoy a brokerage fee waiver.

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