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China to launch FTF bond in Singapore

Published : Friday, 18 September, 2020 at 12:00 AM  Count : 189

SHANGHAI, Sept 17: The largest exchange-traded fund to invest purely in Chinese government bonds lists in Singapore next week, the bourse and the fund manager said on Thursday, capitalising on surging interest in the world's second-biggest bond market.
The first China bond ETF in Singapore, managed by CSOP Asset Management, will launch with an initial $676 million drawn from both institutional and retail investors, CSOP and Singapore Exchange Ltd told a briefing. Trading begins on Monday.
The launch comes as foreign investors stream into China's onshore yuan bonds and as it steps up efforts to deregulate its capital markets and promote global use of the yuan.
The ETF, which tracks the FTSE Chinese Government Bond Index, is designed to help capture "opportunities brought by the booming China onshore bond market and its continuous inclusion into the world's major global indices", said Ding Chen, CEO of CSOP Asset Management.   -Reuters







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