China Asset Management (Hong Kong) Limited will no longer serve as a subadviser for three of Van Eck Associates' ETFs as of early next year, a filing with the Securities and Exchange Commission Monday said.
Effective "on or about" Jan. 12, 2024, ChinaAMC (HK) will no longer serve as a subadviser to the VanEck China Growth Leaders ETF, the VanEck ChiNext ETF and the VanEck China Bond ETF, the filing said.
Van Eck Associates, the funds' investment adviser, "is evaluating the management of the Funds after the Effective Date," the filing said.
The biggest of the three funds, the VanEck China Bond ETF, had net assets totaling $37.8 million as of July 14. The VanEck ChiNext ETF's net assets totaled $20.2 million as of that date, while the VanEck China Growth Leaders ETF's net assets totaled $13.2 million.
Van Eck Associates had assets under management totaling $77.8 billion as of June 30, a Van Eck spokesman said. Van Eck declined to comment regarding the filing, the spokesman said.
Efforts to obtain comment from ChinaAMC (HK) on Monday were unsuccessful.
