CSOP NEW ETF LISTED ON SGX OFFERS INVESTORS ACCESS TO HIGH-DIVIDEND PAYING COMPANIES

KUALA LUMPUR, Dec 1 (Bernama) -- CSOP Huatai-PineBridge SSE Dividend Index ETF (stock code: SHD) has been listed on Singapore Exchange (SGX Group) with a fixed listing price at SGD1.00 per share, with a trading lot of one share and annual management fee of 0.89 per cent. (SGD1 = RM3.49)

A feeder fund, SHD will invest at least 90 per cent of its Net Asset Value in the Huatai-PineBridge SSE Dividend Index ETF, referred to as the “Underlying Fund”, in which listed in 2006, is currently the largest dividend ETF in mainland China, with assets under management of 16.2 billion Chinese yuan as of Sept 30, 2023.

This investment will be made directly and/or indirectly via the QFI status granted to CSOP Asset Management Pte Ltd (the Manager) and/or through any permissible means available to the fund under the prevailing laws and regulations.

“This signifies the sixth ETF product from CSOP in Singapore, and we extend our appreciation to SGX for their unwavering support. This ETF offers an attractive opportunity for investors to leverage the high dividend-paying stocks in China.

“The successful launch of this ETF will not only expand Singapore's ETF spectrum, but also cater to the requirements of sophisticated investors,” said CSOP Asset Management Chief Executive Officer, Ding Chen in a statement.

The SSE Dividend Index comprises 50 high quality dividend-paying companies listed on the Shanghai Stock Exchange (SSE) as its constituents, and has a total market capitalisation of 129.6 billion Chinese yuan, covering energy, financials, industrials, materials, and various other sectors.

With a current price-to-earnings (PE) ratio of less than six times, its valuation is considerably lower in comparison with other similar dividend indexes and core broad-based A-share indexes.

SSE Dividend Index stands out with a competitive year to date total return of 3.64 per cent with better estimated dividend yield of 6.06 per cent when compared to other stocks listed on SSE, as well as top stocks listed in Singapore and Hong Kong.

The CSOP Huatai-PineBridge SSE Dividend Index ETF is one of the first pair of products under the SSE-SGX ETF link, providing Singapore investors with access to high-quality A-share opportunities.

Concurrently, Huatai-PineBridge Fund Management will also cross-list the CSOP iEdge Southeast Asia+ TECH Index ETF on SSE.

-- BERNAMA