HONG KONG--(BUSINESS WIRE)--Nov 5, 2024--
The first MAG Seven ETF in Hong Kong, CSOP MAG Seven ETF (3454.HK), will be listed on the Hong Kong Stock Exchange on November 6, 2024. In order to track the performance of the Solactive Magnificent Seven Index (the “Index”), 3454.HK deploys a full replication strategy. With listing price of about 7.8 HKD per unit, trading unit of 100, and management fee of 0.6%, 3454.HK has received initial investment of 5 million US dollars.
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The term “MAG Seven”, or “Magnificent Seven”, was coined by Bank of America Chief Investment Strategist Michael Hartnett in 2023. Tech behemoths comprising Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla make up the “MAG Seven” universe. MAG Seven companies are known for their market leadership, technological influence, and impact on consumer behavior. With USD 15.41 trillion of market cap, MAG Seven stocks have now surpassed the total size of Japan, Canada and the UK's stock markets 1. MAG Seven’s weight in the S&P 500 Index has approximately tripled since 2015, rising from 11.93% to 31.65% 2. In the tech-heavy Nasdaq 100 Index, the proportion of MAG Seven has retained its magnificence with steady increase, dominating the market perennially 3.
The Index offers equal-weighted exposure to MAG Seven companies and is rebalanced on a quarterly basis, with each stock comprising approximately 14.29%. Since 2015, the Index has been outperforming major indices. While the Nasdaq Composite achieved 44.64% and the S&P 500 yielded 26.29% annual return in 2023 respectively, Solactive Magnificent Seven Index outstripped both indices outright with a remarkable 108.39% annual return 4. 3454.HK provides an opportunity to buy MAG Seven stocks at once with low investment thresholds during Hong Kong trading hours.
Ms. Ding Chen, CEO of CSOP, is pleased to announce that the CSOP MAG Seven ETF will be listed on the Hong Kong Stock Exchange tomorrow. She comments: "Since our establishment in 2008, CSOP has been committed to providing high-quality and innovative investment tools to Asian investors. Today, we are proud to introduce the first Magnificent Seven ETF to Hong Kong. This allows investors to easily access the US leading tech companies in a flexible and transparent manner."
About CSOP
As a leading ETF manager in Asia, CSOP is committed to facilitating cross-border investment through the provision of efficient and transparent ETF products. CSOP has been a trailblazer in Hong Kong's ETF market, managing 46 ETFs, with 5 consistently ranking among the top 10 most traded ETFs throughout the year*.
CSOP's dedication to cross-border initiatives and partnerships remains steadfast. We are the sole issuer involved in all ETF connectivity programs between Mainland China and Hong Kong SAR. CSOP ETFs represent 75% of the total holdings of southbound investors among eligible Hong Kong-listed ETFs in the ETF Connect**, and over 98% market share in ETF Cross-listing schemes***. We were also the first issuer to participate in the China – Singapore ETF link scheme.
* Source: Bloomberg, 2024/1/1 - 2024/7/31.
**Source: CCASS, Bloomberg, CSOP. As of 2024/8/31, the asset under management holding of 3033.HK and 3037.HK accounted for 75% of the total southbound investors’ holdings of the total 16 eligible HK-listed ETFs.
*** Source: Bloomberg, 2024/7/31.
Disclaimer: The product(s) is/are authorized by the Securities and Futures Commission ("SFC") in Hong Kong. Such authorization does not imply any official recommendation by the SFC.
This document is for general information only and do not constitute any kind of advice in any way as an offer or solicitation to deal in any investment products.
Investment involves risks. Past performance information presented is not indicative of future performance. Investors should refer to the Prospectus and the Product Key Facts Statement for further details, including product features and the full list of risk factors. Investors should not base on this document alone to make investment decisions. This document is not applicable in jurisdictions where the distribution of this document is restricted.
This document is not legally binding. CSOP does not warrant the accuracy, reliability, timeliness, completeness or reasonableness of this document. This document does not confer upon the recipient any copyright or intellectual property rights (whether direct, indirect, or implied) in the use of the information contained herein. This document (and information in this document) should not be copied, reproduced, or distributed to any parties without the written consent of CSOP.
The investments of the product(s) maybe concentrated in certain areas, markets and sectors. The value of the product(s) may be more volatile than that of a fund having a more diverse portfolio of investments and companies that adopt more traditional business models.
For the Index Provider Disclaimer, please refer to the Product’s offering document. This document is prepared by CSOP Asset Management Limited and has not been reviewed by the Securities and Futures Commission in Hong Kong.
Issuer: CSOP Asset Management Limited
CSOP MAG Seven ETF (3454.HK) (Graphic: Business Wire)
Israeli strikes killed at least 30 people overnight in Gaza, according to Palestinian health officials. Strikes early Tuesday killed 10 people in the Gaza Strip, including four children and two women, and a strike late Monday on the northern Gaza town of Beit Lahiya killed at least 20 people, including eight women and six children.
Israel has been waging a massive offensive in northern Gaza — which was already the most isolated and heavily destroyed part of the territory — for nearly a month.
Despite growing pressure from the United States and others in the international community for a cease-fire in Gaza and Lebanon, intensified Israeli strikes against the Hezbollah militant group are expanding beyond Lebanon’s border areas. Israel is also fighting a seemingly endless war against Hamas in northern Gaza.
Since the conflict between Israel and Hezbollah erupted in 2023, at least 3,000 people have been killed and some 13,500 wounded in Lebanon, the Health Ministry reports.
More than a year of Israel's war against Hamas in Gaza has killed more than 43,000 people, Palestinian health officials say. They do not distinguish between civilians and combatants, but say more than half of those killed were women and children. The war began after Palestinian militants stormed into Israel on Oct. 7, 2023, killing some 1,200 people — mostly civilians — and abducting 250 others.
Here’s the latest:
DEIR AL-BALAH, Gaza Strip — Palestinian medical officials say an Israeli airstrike in the northern Gaza Strip has killed at least 20 people, mostly women and children.
Hossam Abu Safiya, the director of a nearby hospital that received the casualties, said the strike late Monday hit a home in the town of Beit Lahiya where multiple families were sheltering.
The dead included eight women and six children, according to a list provided by the Gaza Health Ministry’s emergency service.
There was no immediate comment from the Israeli military.
Israel has been waging a massive offensive in northern Gaza — which was already the most isolated and heavily destroyed part of the territory — for nearly a month. It ordered the complete evacuation of Beit Lahiya, the nearby town of Beit Hanoun, and the urban Jabaliya refugee camp, and has allowed almost no humanitarian aid into the area for over a month.
Tens of thousands of people have fled to nearby Gaza City in the latest wave of displacement in the war, which began when Hamas-led militants attacked southern Israel on Oct. 7, 2023.
DEIR AL-BALAH, Gaza Strip — Palestinian officials say Israeli strikes early Tuesday killed 10 people in the Gaza Strip, including four children and two women.
One strike hit a house in the Tufah neighborhood in Gaza City, killing two children and their parents, according to the Gaza Health Ministry’s emergency service. Two other children were wounded, it said.
In the central town of Zuweida, an Israeli airstrike hit a tent where a displaced family was sheltering, killing four people, including a mother and her two children, according to the Al-Aqsa Martyrs Hospital in the nearby city of Deir al-Balah.
Another strike hit a house in Deir al-Balah, killing two people, the hospital said.
An Associated Press journalist counted the bodies at the hospital morgue.
The Israeli military says it only targets militants and accuses them of hiding among civilians. It rarely comments on individual strikes, which often kill women and children.
The war began when Hamas-led militants stormed into southern Israel on Oct. 7, 2023, killing some 1,200 people, mostly civilians, and taking another 250 hostage. Around 100 hostages are still inside Gaza, a third of whom are believed to be dead.
Israel’s offensive has killed over 43,000 Palestinians, according to the Gaza Health Ministry, which says over half were women and children. It does not distinguish between civilians and combatants.
RAMALLAH, West Bank — Palestinian officials say Israeli forces have killed three people in the occupied West Bank.
Two were killed in an airstrike early Tuesday near the northern city of Jenin, a flashpoint for Israeli-Palestinian violence in recent years. A third person was shot in the village of Tamoun, according to the Palestinian Health Ministry.
The Israeli military said it called in an airstrike on a militant cell near Jenin. There was no immediate comment on the shooting.
Israeli forces have carried out near-daily military raids in the West Bank since Hamas’ Oct. 7 attack out of the Gaza Strip triggered the Israel-Hamas war. The Health Ministry says at least 767 Palestinians have been killed in the West Bank since then. Most appear to have been militants killed in battles with Israeli forces, but the dead also include civilian bystanders and people killed during protests.
Israel says the raids are aimed at dismantling Hamas in the West Bank and preventing attacks. Palestinians have carried out dozens of stabbing, shooting and car-ramming attacks against Israelis since the start of the war.
Israel captured the West Bank in the 1967 Mideast war, and the Palestinians want it to form the main part of their future state.
Israeli army investigators arrive at the site of the early morning attack of Israeli settlers, that left at least 18 burnt vehicles, on the outskirts of the West Bank city of al-Bireh Monday, Nov. 4, 2024. (AP Photo/Nasser Nasser)
Palestinians mourn over the body of Naji al-Baba,16, who the Palestinian Health Ministry said was killed by Israeli forces in the town of Halhul, West Bank, during his funeral on Monday, Nov. 4, 2024. (AP Photo/Mahmoud Illean)
Palestinians mourn over the body of Naji al-Baba,16, who the Palestinian Health Ministry said was killed by Israeli forces in the town of Halhul, West Bank, during his funeral on Monday, Nov. 4, 2024. (AP Photo/Mahmoud Illean)
Palestinians inspect vehicles that were burnt during an early morning attack by Israeli settlers, that left at least 18 burnt vehicles, on the outskirts of the West Bank city of al-Bireh Monday, Nov. 4, 2024. (AP Photo/Nasser Nasser)
Palestinians inspect vehicles that were burnt during an early morning attack by Israeli settlers, that left at least 18 burnt vehicles, on the outskirts of the West Bank city of al-Bireh Monday, Nov. 4, 2024. (AP Photo/Nasser Nasser)
Mourners carry the body of Naji al-Baba,16, who the Palestinian Health Ministry said was killed by Israeli forces in the town of Halhul, West Bank, during his funeral on Monday, Nov. 4, 2024. (AP Photo/Mahmoud Illean)
