Hong Kong's HKEx announced the launch of the first ever silver and platinum ETFs among other precious metals related ETF's.
HONG KONG(BullionStreet): Hong Kong's HKEx announced the launch of the first ever silver and platinum ETFs among other precious metals- related ETF's.
The ETFs will be the first three launched by ETF Securities (HongKong) Limited, a wholly-owned subsidiary of HKEx on the Stock Exchange of Hong Kong Limited.
In a statement issued here, Hong Kong Exchanges and Clearing Limited (HKEx) said the three ETFs -ETFS Physical Gold ETF, ETFS Physical Silver ETF and ETFS Physical Platinum ETF are listed on the Stock Exchange of Hong Kong Limited and designed to track the London benchmark prices of the respective metals.
"These three new ETFs are also in line with our corporatestrategy to diversify by adding asset classes to our equities and equities- relatedproducts.", the statement said.
This has been a record year for the Hong Kong ETF market, with the launch of 35 newETFs, including the three to be listed, the first renminbi (RMB) ETFs, the first RMB Qualified Foreign Institutional Investors, or RQFII, A-share ETFs and the first dualcounter ETFs trading in both RMB and Hong Kong dollars.
The ETFS Physical Gold ETF will be the Exchange's fourth gold ETF. The total numberof ETFs will increase to 100 and the number of ETF managers will increase to 21.
Analysts said the introduction of the first ETFs on silver and platinum will further enrich product offerings of HKEx in precious metals.