CSOP MAG SEVEN ETF LISTS ON HONG KONG STOCK EXCHANGE

KUALA LUMPUR, Nov 6 (Bernama) -- CSOP Asset Management Limited (CSOP) has announced the listing of the first MAG Seven exchange-traded fund (ETF) in Hong Kong, CSOP MAG Seven ETF (3454.HK), on the Hong Kong Stock Exchange.

“Since our establishment in 2008, CSOP has been committed to providing high-quality and innovative investment tools to Asian investors.

“Today, we are proud to introduce the first Magnificent Seven ETF to Hong Kong. This allows investors to easily access the United States leading tech companies in a flexible and transparent manner,” said CSOP Chief Executive Officer, Ding Chen.

In order to track the performance of the Solactive Magnificent Seven Index, 3454.HK deploys a full replication strategy, according to CSOP in a statement.

With a listing price of about HK$7.8 per unit, trading unit of 100 and management fee of 0.6 per cent, 3454.HK has received an initial investment of US$5 million. (US$1=RM4.33)

The term “MAG Seven”, or “Magnificent Seven”, was coined by Bank of America Chief Investment Strategist Michael Hartnett in 2023. MAG Seven companies are known for their market leadership, technological influence, and impact on consumer behaviour.

The 3454.HK provides an opportunity to buy MAG Seven stocks at once with low investment thresholds during Hong Kong trading hours.

As a leading ETF manager in Asia, CSOP is committed to facilitating cross-border investment through the provision of efficient and transparent ETF products.

-- BERNAMA