Latest news with #LiTong
Korea Herald
3 days ago
- Business
- Korea Herald
Premia launches first Saudi Arabia government Sukuk ETF in Asia for allocators looking for efficient tool to access investment grade sukuk or EM fixed income securities
HONG KONG, May 29, 2025 /PRNewswire/ -- In partnership with BOCHK Asset Management Limited (BOCHKAM), Premia Partners, the leading homegrown ETF provider from Hong Kong, announces listing of Premia BOCHK Saudi Arabia Government Sukuk ETF (the ETF) on 29 May 2025 on HKEx. As Asia's first investment grade government sukuk ETF, the physical replicated ETF is designed to provide investors with direct access to government sukuk denominated in Saudi Riyal or US Dollar issued by the Saudi Arabia government or government agencies, with total expense ratio (TER) of 0.35% p.a. only. "The launch of this ETF is a significant milestone and cumulation of a year-long preparation in our efforts to build an efficient tool for international allocators looking for diversification from investment grade emerging markets and shariah-compliant fixed income solutions," said Rebecca Chua, Managing Partner of Premia Partners. "It is a particularly timely strategy in the current market environment, as allocators increasingly look to values from more diversified allocation and uncorrelated returns.' Li Tong, Deputy Chief Executive of BOCHK and Chairman of BOCHKAM, said: "BOCHKAM is pleased to collaborate with Premia Partners to launch the Asia's first Saudi Arabic Government Sukuk ETF. This fund combines the flexibility and transparency of an ETF with the features of Islamic finance, providing investors with convenient access to Saudi Arabia's capital market. BOCHKAM will continue to foster collaboration with the Middle East and other markets by developing more globally-diversified asset allocation solutions, contributing our efforts to strengthen Hong Kong's position as a global asset management centre." Leveraging its capabilities in both Asia and Middle East, HSBC will provide a range of trustee, global custody and fund administration services for Premia BOCHK Saudi Arabia Government Sukuk ETF in both Hong Kong and Saudi Arabia. Commenting on the launch, Faris AlGhannam, Chief Executive Officer and Board member, HSBC Saudi Arabia, said: "ETFs have become a key tool for asset managers tapping into the emerging Middle East-Asia investment corridor. This landmark transaction reflects the sustained demand among foreign investors for access to Saudi Arabia's economic transformation and the Kingdom's debt capital markets. As the leading international bank with the deepest asset servicing capabilities in both Hong Kong and Saudi Arabia, we are proud to have enabled Premia to launch the Premia BOCHK Saudi Arabia Government Sukuk ETF." Mr. Mohammed Al-Rumaih, CEO of the Saudi Exchange, said: "The issuance of this ETF on HKEX marks a significant milestone in our ongoing efforts to provide global investors with access to the Saudi market and enhance portfolio diversification worldwide. This ETF, tracking the iBoxx Tadawul Government & Agencies Sukuk Index (SAR Unhedged) TRI, offers global investors a unique opportunity to access high-quality government-issued sukuk." "S&P Dow Jones Indices is delighted to license the iBoxx Tadawul Government & Agencies Sukuk Index to Premia Partners for this new ETF launch. The index provides market participants with a benchmark that focuses on shariah-compliant funding obtained by the Saudi Arabia government and its key organizations through sukuk issuances. As Saudi Arabia diversifies its economic base and fosters growth within the domestic debt market, the index is designed to encompass shariah-compliant sukuk issuances to support the kingdom's Vision 2030 initiatives," said Kangwei Yang, Director of Fixed Income Product Management at S&P Dow Jones Indices. About Premia Partners
Yahoo
3 days ago
- Business
- Yahoo
Premia launches first Saudi Arabia government Sukuk ETF in Asia for allocators looking for efficient tool to access investment grade sukuk or EM fixed income securities
HONG KONG, May 29, 2025 /PRNewswire/ -- In partnership with BOCHK Asset Management Limited (BOCHKAM), Premia Partners, the leading homegrown ETF provider from Hong Kong, announces listing of Premia BOCHK Saudi Arabia Government Sukuk ETF (the ETF) on 29 May 2025 on HKEx. As Asia's first investment grade government sukuk ETF, the physical replicated ETF is designed to provide investors with direct access to government sukuk denominated in Saudi Riyal or US Dollar issued by the Saudi Arabia government or government agencies, with total expense ratio (TER) of 0.35% p.a. only. Premia BOCHK Saudi Arabia Government Sukuk ETF (Tickers: (HKD distribution class)/ (USD distribution class)) tracks the iBoxx Tadawul Government & Agencies Sukuk Index. Covering only Sukuk instruments issued by Saudi Arabian government or its agencies, with a stable A-rated sovereign issuer rating by major international agencies, the strategy reflects the robust oil reserves, low government debt level and vibrant economic development of Saudi Arabia under the Vision 2030 Strategic Plans. The ETF offers stable income and attractive yield, as well as diversification benefits given its low correlations with other bonds and major asset classes. "The launch of this ETF is a significant milestone and cumulation of a year-long preparation in our efforts to build an efficient tool for international allocators looking for diversification from investment grade emerging markets and shariah-compliant fixed income solutions," said Rebecca Chua, Managing Partner of Premia Partners. "It is a particularly timely strategy in the current market environment, as allocators increasingly look to values from more diversified allocation and uncorrelated returns.' Li Tong, Deputy Chief Executive of BOCHK and Chairman of BOCHKAM, said: "BOCHKAM is pleased to collaborate with Premia Partners to launch the Asia's first Saudi Arabic Government Sukuk ETF. This fund combines the flexibility and transparency of an ETF with the features of Islamic finance, providing investors with convenient access to Saudi Arabia's capital market. BOCHKAM will continue to foster collaboration with the Middle East and other markets by developing more globally-diversified asset allocation solutions, contributing our efforts to strengthen Hong Kong's position as a global asset management centre." Leveraging its capabilities in both Asia and Middle East, HSBC will provide a range of trustee, global custody and fund administration services for Premia BOCHK Saudi Arabia Government Sukuk ETF in both Hong Kong and Saudi Arabia. Commenting on the launch, Faris AlGhannam, Chief Executive Officer and Board member, HSBC Saudi Arabia, said: "ETFs have become a key tool for asset managers tapping into the emerging Middle East-Asia investment corridor. This landmark transaction reflects the sustained demand among foreign investors for access to Saudi Arabia's economic transformation and the Kingdom's debt capital markets. As the leading international bank with the deepest asset servicing capabilities in both Hong Kong and Saudi Arabia, we are proud to have enabled Premia to launch the Premia BOCHK Saudi Arabia Government Sukuk ETF." Mr. Mohammed Al-Rumaih, CEO of the Saudi Exchange, said: "The issuance of this ETF on HKEX marks a significant milestone in our ongoing efforts to provide global investors with access to the Saudi market and enhance portfolio diversification worldwide. This ETF, tracking the iBoxx Tadawul Government & Agencies Sukuk Index (SAR Unhedged) TRI, offers global investors a unique opportunity to access high-quality government-issued sukuk." "S&P Dow Jones Indices is delighted to license the iBoxx Tadawul Government & Agencies Sukuk Index to Premia Partners for this new ETF launch. The index provides market participants with a benchmark that focuses on shariah-compliant funding obtained by the Saudi Arabia government and its key organizations through sukuk issuances. As Saudi Arabia diversifies its economic base and fosters growth within the domestic debt market, the index is designed to encompass shariah-compliant sukuk issuances to support the kingdom's Vision 2030 initiatives," said Kangwei Yang, Director of Fixed Income Product Management at S&P Dow Jones Indices. About Premia Partners Founded in 2016, Premia Partners is a leading ETF manager from Hong Kong, dedicated to building low-cost, efficient, best practice ETFs for Asia. As of May 29th 2025, Premia Partners manages 12 equity and fixed income ETFs designed as low-cost, efficient allocation tools for Asia. For more information on Premia or Premia ETFs covering China, Emerging ASEAN, Asia Metaverse/ Innovative Technology, Vietnam, Taiwan, China high yield bonds, China government bond, Asia USD investment grade bonds, US Treasury and Saudi Arabia Government Sukuk, please visit View original content: SOURCE Premia Partners Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
07-03-2025
- Business
- Yahoo
Bank of China International Makes Cuts to Commodities Unit
(Bloomberg) -- Bank of China International Holdings Ltd., the investment banking arm of the giant Chinese state-owned lender, is pulling back from commodities after wild price moves over the past few years shook management confidence in the sector. Trump Administration Plans to Eliminate Dozens of Housing Offices Republican Mayor Braces for Tariffs: 'We Didn't Budget for This' How Upzoning in Cambridge Broke the YIMBY Mold NYC's Finances Are Sinking With Gauge Falling to 11-Year Low How Sanctuary Cities Are Fighting Trump, Again The bank has reduced the number of clients in its commodities business by more than two-thirds, and in recent weeks has made lay-offs in its commodities team in Shanghai and Beijing, according to people familiar with the matter. It's been reviewing the unit since last year, the people said, asking not to be named as the matter isn't public. Through BOCI, Bank of China Ltd. had been one of the first movers among Chinese lenders seeking to challenge global investment banks like JPMorgan Chase & Co. and Macquarie Group Ltd. in the international commodity markets. The business has offices in London, New York, Singapore and Shanghai. BOCI was, in 2012, the first Chinese company to become a member of the London Metal Exchange. It was also the first Chinese institution to obtain clearing membership of the Chicago Mercantile Exchange and the Intercontinental Exchange, two other major commodity bourses. Still, the bank's support for the commodities arm has been shaken by several extreme price moves in the past few years. BOCI was among the banks and brokers through which Tsingshan Holding Group Co. held the vast nickel position that was the focus of a massive short squeeze in 2022, Bloomberg reported at the time. And then last year, a divergence in copper prices between New York and London once again highlighted the risks in the sector. The bank has reduced its exposure in particular to metals clients, the people said, while maintaining relationships with big Chinese state energy firms. It comes after other big financiers of the Chinese metals industry, like JPMorgan and ICBC Standard Bank Plc, pulled back from the sector in recent years. The changes aren't likely to affect parent company Bank of China's trade-finance lending business, which participates in big-ticket credit facilities for commodity traders around the world, people familiar said. The review of the division followed the departure of Li Tong as chief executive officer of BOCI last year. The well-connected daughter of a former member of the politburo, Li had been a key driver of the bank's growth in commodities, and her move to Bank of China's Hong Kong unit last year has left the commodities business with less support among the senior management, the people said. An inquiry to a representative for parent company Bank of China wasn't answered. --With assistance from Archie Hunter, Jack Farchy and Amanda Wang. (Adds details on the commodities business in paragraphs three and four.) Snack Makers Are Removing Fake Colors From Processed Foods The Mysterious Billionaire Behind the World's Most Popular Vapes Rich People Are Firing a Cash Cannon at the US Economy—But at What Cost? Greenland Voters Weigh Their Election's Most Important Issue: Trump Trump's SALT Tax Promise Hinges on an Obscure Loophole ©2025 Bloomberg L.P. Sign in to access your portfolio
Yahoo
06-03-2025
- Business
- Yahoo
Bank of China International Makes Cuts to Commodities Unit
(Bloomberg) -- Bank of China International Holdings Ltd., the investment banking arm of the giant Chinese state-owned lender, is pulling back from commodities after wild price moves over the past few years shook management confidence in the sector. Republican Mayor Braces for Tariffs: 'We Didn't Budget for This' Trump Administration Plans to Eliminate Dozens of Housing Offices How Upzoning in Cambridge Broke the YIMBY Mold NYC's Finances Are Sinking With Gauge Falling to 11-Year Low Remembering the Landscape Architect Who Embraced the City The bank has reduced the number of clients in its commodities business by more than two-thirds, and in recent weeks has made lay-offs in its commodities team in Shanghai and Beijing, according to people familiar with the matter. It's been reviewing the unit since last year, the people said, asking not to be named as the matter isn't public. Through BOCI, Bank of China Ltd. had been one of the first movers among Chinese lenders seeking to challenge global investment banks like JPMorgan Chase & Co. and Macquarie Group Ltd. in the international commodity markets. The business has offices in London, New York, Singapore and Shanghai. BOCI was, in 2012, the first Chinese company to become a member of the London Metal Exchange. It was also the first Chinese institution to obtain clearing membership of the Chicago Mercantile Exchange and the Intercontinental Exchange, two other major commodity bourses. Still, the bank's support for the commodities arm has been shaken by several extreme price moves in the past few years. BOCI was among the banks and brokers through which Tsingshan Holding Group Co. held the vast nickel position that was the focus of a massive short squeeze in 2022, Bloomberg reported at the time. And then last year, a divergence in copper prices between New York and London once again highlighted the risks in the sector. The bank has reduced its exposure in particular to metals clients, the people said, while maintaining relationships with big Chinese state energy firms. It comes after other big financiers of the Chinese metals industry, like JPMorgan and ICBC Standard Bank Plc, pulled back from the sector in recent years. The changes aren't likely to affect parent company Bank of China's trade-finance lending business, which participates in big-ticket credit facilities for commodity traders around the world, people familiar said. The review of the division followed the departure of Li Tong as chief executive officer of BOCI last year. The well-connected daughter of a former member of the politburo, Li had been a key driver of the bank's growth in commodities, and her move to Bank of China's Hong Kong unit last year has left the commodities business with less support among the senior management, the people said. An inquiry to a representative for parent company Bank of China wasn't answered. --With assistance from Archie Hunter, Jack Farchy and Amanda Wang. (Adds details on the commodities business in paragraphs three and four.) The Mysterious Billionaire Behind the World's Most Popular Vapes Rich People Are Firing a Cash Cannon at the US Economy—But at What Cost? Greenland Voters Weigh Their Election's Most Important Issue: Trump Trump's SALT Tax Promise Hinges on an Obscure Loophole Snack Makers Are Removing Fake Colors From Processed Foods ©2025 Bloomberg L.P.
