Deutsche Asset & Wealth Management announced the launch of the db X-trackers Harvest CSI 500 China A-Shares Small Cap Fund (NYSE ticker: ASHS), the first U.S.-listed…
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exchange-traded fund to provide investors with direct access to small cap China A-shares equities. DeAWM has once again partnered with subadvisor Harvest Global Investments Limited to launch this new product, which features an expense ratio of 0.82%.
“Deutsche Asset & Wealth Management continues to break ground with its passive offerings, as evidenced by the latest ETF to provide access to a new and attractive segment of the Chinese equity market,” said Jerry Miller, Head of DeAWM in the Americas. “We are committed to utilizing our unique global capabilities to anticipate and offer solutions that meet current and future investor demand.”
The launch of ASHS expands DeAWM’s innovative suite of ETFs that offer direct access to Chinese securities. In November 2013, DeAWM launched db X-trackers Harvest CSI 300 China A-Shares Fund (NYSE ticker: ASHR), which was the first U.S.-listed ETF to provide investors direct equity exposure to the China A-shares market. Most recently, DeAWM launched db X-trackers Harvest MSCI All China Equity Fund (NYSE ticker: CN), the first ETF to provide investors with broad exposure to onshore and offshore Chinese equities through a single fund.
Choy Peng Wah, Chief Executive of Harvest Global Investments Limited, said, “This new product provides investors with another option to get exposure to China’s dynamic and fast-growing economy.”
ASHS will seek to track the CSI 500 Index, which holds 500 small cap companies listed on the Shanghai and Shenzhen stock exchanges. To be considered for inclusion in the index, securities must meet minimum liquidity requirements.
“ASHS builds off the success of ASHR and provides distinct yet complementary access to the China A-shares market,” said Fiona Bassett, Head of DeAWM’s Passive business in the Americas. “Together, ASHS and ASHR allow investors to access the large and small cap segments of a market in which foreign investment had historically been limited.”
DeAWM’s U.S. exchange-traded products (“ETP”) platform has approximately $11 billion in assets under management as of December 31, 2013. The firm’s global ETP platform, launched in 2006, has grown to become the world’s fifth largest, with approximately $63 billion in assets under management as of December 31, 2013.
Source: ETFWorld.com
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