The Hong Kong management company Phillip Capital has just announced the launch of their first ETF in the country. The fund is called, the Phillip HK Newly Listed Equities Index ETF (2835 HK) and looks to track some of Hong Kong’s most recently added equities. The strategy will target new initial public offerings (IPOs) that look to have high growth potential as well as companies that have already built a reputation in Mainland China but look to list in Hong Kong. A quote from the CEO of Phillip Capital states, “The Hong Kong market will continue to be a magnet for the listing of the next Tencent or Alibaba, Our ETF will offer exposure to the vibrant Hong Kong IPO market with myriad investment opportunities.”
The ETF is linked the the Solactive Hong Kong Newly Listed Equities Index which is made up of stocks that have launched in Hong Kong within the last three years.