Global X Management, a New York-based asset manager, has launched Global X China Financials ETF, an ETF offering targeted access to the China Financials sector.
The Global X China Financials ETF seeks to replicate the S-BOX China Financials Index, which is designed to reflect the performance of the financials sector in China.
As of November 30, 2009, banks represent 44% of the index, real estate companies 31% and insurance companies 24%. The largest index components were China Construction Bank, Industrial and Commercial Bank of China, China Life Insurance and Bank of China.
Bruno del Ama, CEO of Global X Management, said: “Completely new market segments, such as the mortgage market, have developed over the last ten years, while relatively new markets, such as credit cards and wealth management, are rapidly expanding. Companies in the China Financial ETF are poised to take advantage of the growth of these markets.”
