HONG KONG, Oct. 31, 2024 /PRNewswire/ -- Hang Seng Investment Management Limited ('Hang Seng Investment'), Hong Kong's largest exchange-traded fund ('ETF') manager, is pleased to celebrate the launch of SAB Invest Hang Seng Hong Kong ETF by its partner SAB Invest, a subsidiary of The Saudi Awwal Bank in Saudi Arabia. This new feeder ETF, which fully invests into the Tracker Fund of Hong Kong ('TraHK' – Stock Code: 2800.HK), made its trading debut on the Saudi Exchange (Tadawul) today (31 October 2024).
Hang Seng Investment Management Limited celebrates the debut of SAB Invest Hang Seng Hong Kong ETF on Saudi Exchange (Tadawul) with SAB Invest.
Addressing attendees at the listing ceremony, the Honorable Paul Chan Mo-Po, Financial Secretary of the Government of the Hong Kong Special Administrative Region ('HKSAR') congratulated SAB Invest, Hang Seng Investment and the Saudi Exchange (Tadawul) for this successful listing, and said, "Today's ETF invests into the Tracker Fund of Hong Kong, which tracks more than 80 of the largest, most liquid, stocks on the Hong Kong Stock Exchange. It creates another channel for Saudi investors to participate in Hong Kong's equity market on a diversified basis covering such key sectors as finance, technology and property – in Hong Kong, and Mainland China."
Speaking at the event, Rosita Lee, Director and Chief Executive Officer of Hang Seng Investment Management Limited, said: "As the manager of TraHK, Hang Seng Investment is delighted that TraHK has been selected as the underlying investment for the new feeder ETF outside of Hong Kong, highlighting its appeal to international markets. Our collaboration with SAB Invest demonstrates our shared vision of fostering a greater diversity in the investment market in Saudi Arabia and will play a pivotal role in strengthening capital flows between Hong Kong and the Middle East, particularly by leveraging Hong Kong's position as a super connector between mainland China and the rest of the world."
Launched in 1999, TraHK is the largest ETF in Hong Kong in terms of assets under management (AUM) and turnover, with AUM of HKD 166 billion as of the end of September 2024. The SAB Invest Hang Seng Hong Kong ETF offers Middle Eastern investors a new opportunity to access Hong Kong's dynamic capital markets.
source: HANG SENG BANK LIMITED
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