Borsa Italiana welcomes FullgoalJun 23 2016 - 15:30
- Fullgoal Asset Management lists first ETF on Borsa Italiana
- Fullgoal ETF tracks FTSE China Onshore Sovereign and Policy Bank Bond Index
Borsa Italiana today welcomes a new fixed income ETF from Fullgoal Asset Management, the first independent Chinese issuer to list a product on ETFplus.
The Fullgoal FTSE China Onshore Sovereign and Policy Bank Bond 1-10 Year Index ETF will track the FTSE China Onshore Sovereign and Policy Bank Bond Index, which is designed to reflect the performance of bonds denominated in RMB (CNY), issued by Chinese Government, China Development Bank, Agricultural Development Bank of China, The Export-Import Bank of China and circulated in mainland China. To be included in the index, bonds must have a maturity of between one and ten years and they must have a minimum outstanding of CNY 20 billion for government bonds and of CNY 10 billion for debt issued by Policy Banks.
Raffaele Jerusalmi, CEO of Borsa Italiana and Director of Capital Markets of London Stock Exchange Group said:
“Chinese issuers are increasingly looking to access European investors and Fullgoal’s decision to list their ETF on the Italian Market confirms that ETFplus has become an international benchmark for ETFs. The strong presence of retail investors makes Italy the leader in Europe for trading these products. On the institutional investors’ side, Italian industry acts as a leader in fixed income ETF investment, accounting for 40 % of ETF listed assets in Italy, compared to under 30% in the rest of Europe. Today’s listing is significant for Borsa Italiana and Italian investors who now have access to a new asset class and we look forward to working with this leading global asset manager to make more products of this type available to our customers”.
Michael Chow, Head of International Business and Managing Director at Fullgoal Asset Management (HK) Limited commented:
“We are delighted to be the 1st Chinese asset manager to list an ETF on Borsa Italiana. Chinese onshore fixed income market is the world’s third-largest bond market. Our Fund provides an avenue for overseas investors to access an otherwise not easily accessible market. We believe that, over time, RMB fixed income will become an essential asset class for global investors.”
There is now a total of 726 ETFs listed on ETFplus from 12 ETF issuers and 1149 listed products in total. At the end of May 2016 there was €49.4 billion of managed assets on the market, up 3.66% from the beginning of the year. Since the beginning of 2016, ETFplus saw over 2.2 billion contracts closed and €44.75 billion of turnover, confirming its position as the leading market in Europe.
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