Ping An of China Asset Management has launched two exchange-traded funds (ETFs) that it says are unique to the Hong Kong market.
One fund tracks an index of companies engaged in artificial intelligence and robotics. The other tracks a basket of ETFs that invest in equities, bonds, real estate, mortgage-backed securities and other assets. The index for each fund is provided by Nasdaq.
"Artificial intelligence is increasingly integrated into every realm of our lives," said Chi Kit Chai, chief investment officer at Ping An, who added that thematic investing could provide an “effective platform” for investment in the sector.
The launches bring the total number of Ping An ETFs to six.
Mona Chung, head of ETF and cross asset investment at Ping An, adds that "The trend for increasing adoption of ETFs by asset managers is expected to gain traction in Asia due to efficiency and cost awareness.”
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