Saudi ETF debuts with $1B capital in Hong Kong: CSOP CEO

The Saudi Arabia exchange-traded fund (ETF) debuted with a capital of $1 billion, becoming the largest globally traded Saudi ETF, Ding Chen, CEO at CSOP Asset Management Ltd, told Argaam.

The fund delivered a strong performance, registering a 10% growth, she added.

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Chen stated that the ETF enables many investors worldwide to access the Saudi market, highlighting Hong Kong investors' interest in the Kingdom’s market.

The CSOP Saudi Arabia ETF caught much attention in Asia and will provide investors with the required tools to inject funds and undertake investments.

The ETF mostly covers the Saudi market sectors with nearly 80%, including oil (Saudi Aramco), banks, technology, and industry, thus it represents the optimum option for Asian or international investors to enter Saudi Arabia, she said.

“We have partners in Shanghai and Shenzhen trying to list the ETF in the stock markets, allowing Chinese investors to exchange funds between the Saudi market and Hong Kong stock exchange,” Chen noted.