First ETF to track China index through Singdollar-hedged fund class launches on SGX
This is the first ETF in Singapore that tracks the ChiNext Index through a Singdollar-hedged fund class. It will provide investors with exposure to fast-growing, innovation-driven companies listed on the SZSE while mitigating foreign exchange fluctuations.
The ETF is managed by Nikko Asset Management and provides targeted access to companies in sectors such as technology, healthcare, and advanced manufacturing – the key drivers of China's transformation into a high-value economy.
The ChiNext Index is known for featuring the 100 largest and most liquid growth-oriented companies that are aligned with China's national priorities including digitalisation, green energy and industrial upgrading.
'This index captures the pulse of China's innovation economy, and through the Amova E Fund ChiNext Index ETF, we are enabling Singapore-based investors to access that growth with greater precision and effective currency risk management,' said Eleanor Seet, president and director of Nikko Asset Management Asia and Head of Asia ex-Japan, Nikko Asset Management.
The Amova E Fund ChiNext Index ETF is part of the suite of Asia-focused ETF listings on SGX and expands this product shelf to 48 ETFs, with combined assets under management exceeding S$14 billion.
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Ng Yao Loong, head of equities, SGX Group, said: 'The listing of the Amova E Fund ChiNext Index ETF on SGX adds to our suite of China A-Shares ETFs under the SZSE-SGX ETF Link. This launch is timely as it taps into rising investor interest in China's innovation sectors and growth themes.'
Other listings in the past under the SZSE-SGX ETF Link include the CSOP CSI Star and ChiNext 50 Index ETF, which was listed on SGX on Dec 30, 2022. Managed by CSOP Asset Management, it offers investors exposure to 50 innovative and high-growth potential companies listed on the Shanghai Stock Exchange Star Market and SZSE ChiNext market.
China Southern CSOP CGS-CIMB FTSE Asia Pacific Low Carbon Index ETF was listed concurrently in Shenzhen under the same link, as the first SGX-listed ETF directly available in China.
It is the world's first low carbon ETF with a geographical focus on developed and emerging markets in Apac, and was listed on SGX in September 2022.
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Business Times
6 hours ago
- Business Times
Hyflux's ex-director pleads guilty to disclosure-related charge, fined S$90,000 and barred from directorships
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Straits Times
7 hours ago
- Straits Times
Ex-Hyflux director fined $90k over water company's failure to disclose information on Tuaspring
Sign up now: Get ST's newsletters delivered to your inbox Rajsekar Kuppuswami Mitta was also barred from acting as a company director for five years. SINGAPORE – A former independent director of Hyflux was fined $90,000 on Aug 7 over the company's failure to disclose information relating to the Tuaspring integrated water and power project in 2011 as required under Singapore Exchange (SGX) listing rules. The fine was handed down to Rajsekar Kuppuswami Mitta by a district court after he pleaded guilty to a charge of neglect in relation to an announcement by the company to the SGX on March 7 that year. Rajsekar, a 68-year-old Australian citizen and Singapore permanent resident, was also barred from acting as a company director for five years. Six others who have also been charged for disclosure-related offences – including Hyflux founder and former chief executive Olivia Lum Ooi Lin – are contesting their charges in a trial scheduled from Aug 11 to Feb 5, 2026. Hyflux, once a celebrated water treatment company in Singapore, officially collapsed in 2021 after facing financial woes from its foray into the energy business through the Tuaspring plant. On Aug 7, Deputy Public Prosecutor Kevin Yong told the court that Hyflux intentionally failed to disclose information in the March 7, 2011, announcement that would have allowed investors to make fully informed decisions. The announcement stated that Hyflux had been named the 'preferred bidder' by national water agency PUB to build and operate Singapore's second and largest seawater desalination plant in Tuas for a concession period of 25 years. Top stories Swipe. Select. Stay informed. 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However, it did not disclose that Hyflux was going into the business of selling electricity for the first time. The company also failed to disclose that the profitability of the power plant was contingent on revenue from the sale of electricity, which was projected to make up the significant majority of Tuaspring's revenue. DPP Yong said drafts and e-mails leading up to the release of the final version of the announcement showed an intention by Hyflux to downplay the power plant component of Tuaspring, and to instead focus on the desalination plant component. In particular, information on Tuaspring being Hyflux's entry into the energy retail business in the first draft of the announcement was removed in subsequent drafts. The prosecutor said this information would be likely to influence investors in deciding whether to buy or sell Hyflux's shares, as it would have revealed that the company was entering a new business outside its core competency of desalination. 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Defence counsel, Mr Suresh Damodara, noted that his client was not copied on any of the earlier drafts. Rajsekar had invested his own money in Hyflux and lost $1 million, said Mr Damodara, adding that his client believes the investment indicated his honest belief that the Tuaspring project was commercially viable. Mr Damodara added that his client has decided to give up corporate life altogether. In sentencing, District Judge Chay Yuen Fatt agreed with the prosecution's submission that deterrence was the main consideration. The judge also accepted that neglect was the lowest degree of responsibility for such offences. A second charge, for non-disclosure related to Hyflux's offer of $200 million worth of shares on April 3, 2011, was taken into consideration during sentencing.
Straits Times
a day ago
- Straits Times
Fintech platform iFast among 5 S'pore companies on Forbes Asia's Best Under A Billion list
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