Vanguard is poised to list an exchange-traded fund in Hong Kong — the company’s first ETF in Asia ex-Australia, confirmed Shelly Painter, Vanguard’s Hong Kong-based Asia regional managing director.
While the institutional investors in the region Vanguard has focused on since opening an office in Australia in 1996 will be able to use the product, its listing will mark the launch of an intermediary business in Hong Kong aimed at extending the firm’s reach to retail investors in Asia, Ms. Painter said in a telephone interview.
Currently, Vanguard is the third-largest global provider of ETF products, with roughly US$280 billion in ETF assets.
A spokeswoman for Vanguard declined to give further details about the ETF while the firm’s application to list the product on Hong Kong’s stock exchange is awaiting regulatory approval.
A prospectus on Vanguard’s website said the firm’s initial ETF product in Hong Kong will track the FTSE Asia Pacific ex-Japan index.