Stay updated with breaking news from Tracker Fund. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
One of Hong Kong's largest exchange-traded funds (ETFs) will resume investing in stocks denied to Americans by U.S. President Donald Trump in an executive order that has caused widespread confusion among asset managers.
By Reuters Staff 3 Min Read HONG KONG (Reuters) - One of Hong Kong’s largest exchange-traded funds (ETFs) will resume investing in stocks denied to Americans by U.S. President Donald Trump in an executive order that has caused widespread confusion among asset managers. A spokeswoman from the State Street Corp unit that manages the Tracker Fund of Hong Kong (TraHK) said the ETF, which tracks the benchmark Hang Seng Index, is able to invest in the securities because neither it nor manager State Street Global Advisors Asia are “U.S. persons”. In an exchange filing on Wednesday TraHK said i...
Hong Kong’s Tracker Fund to resume investing in companies sanctioned by US following U-turn by manager State Street Global Fund manager says it will remain consistent with its mission of providing investment results that closely correspond to the performance of the benchmark Hang Seng Index U-turn comes after Carrie Lam and Joseph Yam, former CEO of HKMA, vowed on Tuesday to replace State Street Global as Tracker Fund’s manager
Hong Kong Tracker Fund, one of the largest exchange-traded funds in the city, will stop investing in some Chinese stocks to comply with a US government order, but market participants say this is unlikely to have an immediate impact on money flowing into the fund. US President Donald Trump issued an executive order on November 12 prohibiting US investment in 31 Chinese companies deemed to be affiliated with the Chinese military. Three companies on the blacklist – China Mobile, China Unicom, and China National Offshore Oil Corporation – are constituents of Hong Kong’s Hang Seng Index. The...
Calls for a new manager of the Hong Kong index fund came after incumbent State Street Global said it must fall in line with US sanctions on certain Chinese firms, potentially harming small investors.