HSBC Private Bank's Asia head of investment strategy criticises Beijing's approach to stock market regulation, in unusually frank comments during a panel discussion.
The asset manager sees the first ChiNext ETF as a way for bearish managers to short the controversial high-growth Shenzhen board. It comes amid concerns over the small-cap stocks' soaring valuations.
CSOP Asset Management has become the first Chinese manager to independently list an ETF in the US. The launch was months late because a shortage of RQFII quota forced it to readjust its investment policy.
The Chinese manager plans to list an FTSE A50 Index ETF on the New York Stock Exchange this June after receiving an additional Rmb3.5 billion in RQFII quota.
The Hong Kong fund house also plans to list the Dublin-domiciled product elsewhere, including in Germany and Switzerland.
Four subsidiaries of mainland managers have just added QFII quota to their existing RQFII allowances as they look to broaden their product offerings and compete with foreign firms.