Hong Kong approves new ETF launches

A Hong Kong-based asset manager is to become the first domestic firm to list synthetic funds on the stock exchange

A Hong Kong-based asset manager has become the first domestic firm to get the go-ahead to list synthetic exchange-traded funds on the Hong Kong stock exchange, claiming that it can succeed where European ETF provider Lyxor failed.

Lyxor, a wholly owned subsidiary of Societe Generale, announced last month that it planned to quit the Hong Kong ETF market because of poor trading conditions for its synthetic funds.

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