(Bloomberg) -- Two exchange-traded funds focused on Saudi Arabian stocks that debuted today in Shanghai and Shenzhen give Chinese investors an option to bet ...
-- Two exchange-traded funds focused on Saudi Arabian stocks that debuted today in Shanghai and Shenzhen give Chinese investors an option to bet on equities in the oil rich nation as both countries strengthen ties.The China Southern Asset Management CSOP Saudi Arabia ETF QDII listed in Shenzhen after raising 634 million yuan . A second fund, the Huatai-PineBridge CSOP Saudi Arabia ETF QDII, began trading in Shanghai after raising 590 million yuan.
The Saudi China ETF program is aimed at facilitating the cross listing of funds in both countries or the launch of feeder funds.Mainland investors will find it easier to build exposure to Saudi stocks using the funds as they can invest in yuan and find information in Chinese, according to Melody Xian He, the deputy chief executive officer at CSOP Asset Management.
“The next step of the Saudi China ETF Connect could be that Saudi Arabia asset managers launch a feeder fund,” she added. ‘We’re drowning in debt… but I drive a BMW’: Young couple has $628.5K debt but no realistic plan to manage it all
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