HONG KONG--(BUSINESS WIRE)--Jul 15, 2024--
CSOP Huatai-PineBridge CSI 300 ETF (3133.HK) will list on the Hong Kong Stock Exchange on July 16, 2024. In seeking to achieve its investment objective, 3133.HK will invest at least 90% of its NAV in the Huatai-PineBridge CSI 300 Exchange-traded Open-end Index Securities Investment Fund (the “Master ETF”) via the QFI status granted to the Manager and/or the Shanghai-Hong Kong Stock Connect. With listing price of approximately HKD 7.8 per unit, board lot of 100 units, 3133.HK has received an initial investment of RMB 51.1 million.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240715285738/en/
At the beginning of 2024, a slew of foreign financial institutions are bullish on Chinese stock market and have upgraded their ratings 1. Meanwhile, the northbound fund flows have been positive for three months in a row since February, hit a new record high in April, indicating strong overseas investment interest in A-share 2. Analysis suggests that China's stock market is benefiting from four major tailwind factors: the "national team" purchasing A-share ETFs to boost funds and confidence; the introduction of the once-in-a-decade new 'Nine Guidelines for Capital Market' policy, and the A-share buybacks and dividends continue to accumulate; quarterly GDP growth in China has beat expectations, with steady earnings recovery; the price-earnings ratio of the CSI 300 index is lower than its 20-year historical average, making A-share highly attractive for investment 3.
Since late 2023, state-owned financial firms led by Central Huijin and China Securities Finance Corp have been investing heavily in A-share ETFs, especially CSI 300 ETFs 3. The policy-driven funds of the "national team" have often intervened to support the capital market, which is seen as a sign to stabilize the stock market. According to UBS estimates, since 2024, policy-driven funds have injected more than RMB 410 billion (around USD 57 billion) into A-share, 75% of which went to CSI 300 ETFs 4. The Master ETF's quarterly report reveals that Central Huijin added 26.356 billion shares in the first quarter of 2024, amounting to approximately RMB 88.8 billion 5.
The CSI 300 Index (the "Index") serves as a benchmark for China's A-share stock market, tracking 300 largest and most liquid companies in China's A-share stock market to comprehensively reflect overall market performance. The median return on equity (ROE) range of the Index has consistently exceeded 10% over an extended period 6. Since 2020, the Index has incorporated new stocks from the SSE's STAR Market and relaxed listing year requirements for SZSE's ChiNext Market stocks. Currently, the Index constituents are well-balanced across cyclical industries, technology, large financials, and consumer sectors. The Master ETF, the world's largest CSI 300 ETF, manages over RMB 190 billion and sees an average daily turnover exceeding RMB 4.6 billion this year 7.
Ms. Ding Chen, CEO of CSOP Asset Management, stated, "As a widely recognized fund management company, we are delighted to offer Hong Kong investors the opportunity to invest in top-quality assets in China. CSOP Huatai-PineBridge CSI 300 ETF, which tracks the world's largest CSI 300 ETF, is the optimal solution for investing in China A-share. CSOP is dedicated to continuous innovation and remains committed to providing our clients with valuable and distinctive ETF products."
About CSOP
CSOP is a leading ETF issuer in Hong Kong SAR, with a wide range of product offerings across equity, fixed income, leveraged and inverse, thematic, money market, and virtual assets. In Q1 2024, 5 out of 10 of the most traded ETFs on the Hong Kong Stock Exchange are CSOP-issued products*. Innovation and leadership are deeply rooted in CSOP’s DNA as we strive to bring first-of-its-kind products to the market, educate investors about ETF trading, and never stop looking for ways to improve trading efficiencies.
CSOP’s commitment to cross-border initiatives and collaborations is unwavering. We are the only product issuer participating in all the ETF connectivity programs between mainland China and Hong Kong SAR, capturing an 69.08% market share of the aggregate southbound AUM**, as well as the first issuer to participate in the China – Singapore Cross-border ETF Link Scheme.
* Source: 2024/01/01-2024/03/28, Bloomberg.
** Source: HKEX, SZSE, SSE, Bloomberg, as of 2024/06/28.
Disclaimer
This document is for general information only and do not constitute investment or any other kind of advice in any way and shall not be considered as an offer or solicitation to deal in any investment products. Investment involves risk. Investors should refer to the Prospectus and the Product Key Facts Statement for further details, including product features and risk factors. Investors should not base on this document alone to make investment decisions. Investors should consult their own advisors before engaging in any transaction. CSOP which prepared this document believes that information in this document is based upon sources that are believed to be accurate, complete and reliable. However, CSOP does not warrant the accuracy or completeness. This document is not legally binding, and CSOP shall not be liable for any loss, damage or expense incurred. This document is not directed to, intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution, availability or use would be contrary to local law or regulations, or which would subject CSOP to any registration or licensing or other requirement, or penalty for contravention of such requirements within such jurisdiction. For the Index Provider Disclaimer, please refer to the Product’s offering document. This document is prepared by CSOP and has not been reviewed by the SFC in Hong Kong.
Issuer: CSOP Asset Management Limited
1 Source: Collation of research and media reports.
2 Source: iFinD, as of 2024/4/26.
3 Source: Collation of research and media reports.
4 Source: UBS, Caixin.
5 Source: Huatai-PineBridge CSI 300 Exchange-traded Open-end Index Securities Investment Fund quarterly report.
6 Source: Wind, as of 2023/11/30.
7 Source: Wind, as of 2023/04/26.
CSOP Huatai-PineBridge CSI 300 ETF (3133.HK) (Graphic: Business Wire)
LEGE-CAP FERRET, France (AP) — French authorities ordered nearly 4,000 more people to evacuate Tuesday from tourist sites on the Atlantic coast as returning heat threatened firefighters’ fragile hold on a vast wildfire west of Bordeaux. The blaze in the Gironde region has burned an area four times the size of Paris and forced 220,000 people to evacuate.
Across France and Spain, roughly 330,000 people have been driven from homes and vacation sites by fires of exceptional scale. Spain braced for its fourth heat wave of the summer, with several blazes still out of control, including the largest in its recorded history.
France may never have seen an evacuation on this scale in peacetime. Interior Minister Laurent Nuñez said Saturday it was “very likely” the largest civilian evacuation operation ever carried out in the country outside of a period of war.
Firefighters held the Gironde blaze in check through a calm night, bringing flare-ups near coastal dunes under control and keeping the burned area unchanged at 420 square kilometers (162 square miles).
Authorities called the fire stabilized, not fixed — held for now, but still capable of breaking loose as temperatures rose and humidity fell.
The precautionary evacuation order covered campsites, holiday villages, tourist residences and leisure parks around the resort of Lacanau, Gironde regional authorities said.
“We are at a point of fragility,” Eric Brocardi, spokesperson for France’s national firefighters federation, told BFMTV on Tuesday. “We will continue attacking this fire despite the forecast rise in temperatures.”
Even as homes burned nearby and authorities urged tourists to stay away, some holidaymakers told French media they were still weighing whether to press ahead rather than lose thousands of euros sunk into summer rentals and train tickets.
France’s national weather service placed Gironde under a yellow heat warning from midday Tuesday, forecasting inland temperatures of 33 to 35 C (91 to 95 F). Southeast winds were expected across the department, with westerly sea breezes along the coast.
More than 1,160 square kilometers (448 square miles) have burned across France this year, according to the Interior Ministry.
Europe is the world’s fastest-warming continent, heating at more than twice the global average, according to the European Union’s Copernicus climate service. Western Europe recorded its hottest June on record, with extreme heat and widespread dryness contributing to the spread and intensification of fires in France and Spain, Copernicus said.
The Gironde blaze has raged since last week and proved wildly unpredictable, transforming at times into a self-feeding firestorm. Above it towered a gargantuan, electrified black thundercloud that generated lightning, violent winds and new fires beyond the original blaze — the first recorded in France.
In Le Porge alone, west of Bordeaux, the municipal government said about 150 homes were destroyed.
Officials warned that smoldering vegetation, rising temperatures and falling humidity could produce fresh outbreaks along the fire's vast perimeter.
Military engineers and forest-fire prevention crews resumed cutting firebreaks early Tuesday. Authorities said 103 kilometers (64 miles) had been completed.
Ninety-three firefighters have been injured, the prefecture said.
The A63 highway remained partly closed, while rail traffic south of Bordeaux was suspended except on the route toward Toulouse.
In Landes, about 15,000 evacuees — half of the total — were allowed home after a separate wildfire stopped advancing.
"The fire is fixed, which is good news in Landes,” French President Emmanuel Macron said Monday evening. Regional authorities said that meant its advance had been stopped and there were no new fire starts.
Those allowed back included residents of Sanguinet, Parentis-en-Born, Biscarrosse’s aviation village and a large campground. Several other neighborhoods remained inaccessible.
Authorities warned that the Landes fire was not extinguished. Residual hot spots, wind and drought could cause flare-ups, and surveillance and damping-down operations were expected to continue for days or possibly weeks.
Hundreds of firefighters backed by military emergency brigades and water-dropping aircraft continued battling several major wildfires in Spain.
Smoke from the fires reached Madrid itself, where residents in central and eastern districts could smell smoke and ash in recent days, emergency services said. Municipal monitors recorded increased particulate pollution in the capital.
Spanish Interior Minister Fernando Grande-Marlaska said Tuesday that nonstop work through the night left him “reasonably positive,” though officials warned that crews had only a brief window before extreme heat returned.
Spain’s national weather service said the country was bracing for its fourth heat wave of the summer, with temperatures expected to exceed 40 C (104 F) in some areas.
Authorities have evacuated about 79,000 people and ordered another 30,000 to remain in their homes. The government declared a national emergency over the fires.
The greatest concern remained two large fires that had at times come close to merging into a single blaze in wooded hills about an hour’s drive west of Madrid.
A fire in hilly, rural terrain in Ávila, west of Madrid, has become Spain’s largest on record, scorching more than 500 square kilometers (193 square miles), the government said.
Another fire in the eastern province of Castellón also forced mass evacuations.
“Look at how the valley is burned. Look at the houses, the people,” said David Gonzalez, a 48-year-old gardener who used his van to deliver supplies to firefighters in Ávila.
“We are feeling a lot of anger and helplessness. It’s something inhuman,” he said.
Fires have burned 1,530 square kilometers (590 square miles) this year in Spain, Ecology Minister Sara Aagesen said.
Spanish Prime Minister Pedro Sánchez has called for a national pact to fight wildfires, saying climate change is making them worse.
Adamson reported from Paris. Joseph Wilson in Barcelona, Spain, contributed to this report.
A control line is cut through the forest to prevent the advance of a fire in Claouey, following wildfires in the area of southwestern France, Tuesday, July 28, 2026. (AP Photo/Emma Da Silva)
Firefighters use controlled burning to halt a wildfire that continues to spread near Cebreros, Ávila province, Spain, Tuesday, July 28, 2026. (AP Photo/Manu Fernandez)
Firefighters work to suppress a fire near Lacanau, as wildfires rage outside Bordeaux, France, Monday, July 27, 2026. (AP Photo/Baz Ratner)
An Blackhawk helicopter lets a Bambi Bucket full of water go over a firezone near Lacanau, as wildfires rage outside Bordeaux, France, Monday, July 27, 2026. (AP Photo/Baz Ratner)
France's President Emmanuel Macron, center, speaks to the press next to Interior Minister Laurent Nunez, left, after a visit to the departmental fire and rescue operational center (CODIS) in Bordeaux, France, following wildfires in the area, Monday July 27, 2026. (Kenzo Tribouillard/Pool Photo via AP)
A firefighter works to suppress flames near Lacanau, as wildfires rage outside Bordeaux, France, Monday, July 27, 2026. (AP Photo/Baz Ratner)
A group hold a firehose and try to suppress a fire near Lacanau, as wildfires rage outside Bordeaux, France, Monday, July 27, 2026. (AP Photo/Baz Ratner)
