PineBridge Investments on Monday said its Shanghai-based joint venture launched a $5.3 billion ETF product, the largest ETF initial public offering in China since 2006.
Huatai-PineBridge Fund Management's ETF is the first in the Chinese market to track the CSI 300, a diversified basket of stocks listed on the country's Shanghai and Shenzhen stock exchanges, according to a news release from PineBridge.
In the news release, David Jiang, CEO of PineBridge Investments, said the launch of the Huatai-PineBridge CSI 300 ETF establishes the joint venture company as “one of the key players in the rapidly growing” Chinese ETF market.
Huatai-PineBridge Fund Management was launched in 2004 by Huatai Securities Joint Stock Co., PineBridge Investments and Suzhou New District High-Tech Industrial Co.
