Hong Kong's Securities and Futures Commission (SFC) has given the final go-head for the first Taiwan exchange-traded fund (ETF), Polaris Taiwan Top 50 Tracker Fund, to be offered in Hong Kong (Note 1).
The cross-listing of the first Taiwan ETF will be done via a feeder fund, Polaris Taiwan Top 50 Tracker Fund (HK), to be listed on the Hong Kong Stock Exchange on 19 August 2009, said the regulator at the end of last week.
"The SFC is committed to developing Hong Kong as an ETF hub in Asia by offering a wide range of investment choices to investors. We welcome more Taiwan ETFs to apply for cross-listing in Hong Kong," said Alexa Lam, the SFC's deputy CEO and executive director of policy, China and investment products.
In 2008, Calyon structured Xin Xing Shuang Bao, a Taiwan structured investment linked to Polaris' emerging market funds.
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