On Wednesday, Krane Funds Advisors, LLC, (“KraneShares“), a world asset administration agency identified for its China-focused ETFs and revolutionary China funding methods, introduced the launch of the KraneShares SSE STAR Market 50 Index ETF (KSTR) on the New York Inventory Trade.
KSTR tracks the Shanghai Inventory Trade (SSE) Science and Expertise Innovation Board 50 Index. The Index includes the 50 largest securities listed on SSE Science and Expertise Innovation Board (STAR Market) as decided by market capitalization and liquidity.
As China has rapidly develop into a world chief in innovation, the Shanghai Inventory Trade developed the STAR Market to advertise China’s excessive progress publicly-listed science and expertise corporations. The STAR Market contains corporations from industries reminiscent of new-generation info expertise, biomedicine, new vitality, and environmental safety.
Since its institution in July 2019, the STAR Market has develop into one of many largest IPO markets globally and a premier itemizing venue for outstanding Chinese language “unicorns” – privately held startup corporations valued at over $1 billion. In simply over a yr, the STAR Market facilitated 200 corporations to boost $44 billion. The rise in fund-raising exercise on Chinese language exchanges final yr is especially attributable to new STAR Market listings, which accounted for 47% of capital raised throughout China’s Mainland A-Share market in 2020.
Enter The STAR Market
“KSTR is the primary ETF listed in the USA that provides traders direct entry to STAR Market-listed corporations,” mentioned Jonathan Krane, CEO of KraneShares. “KraneShares is privileged to work with SSE and NYSE to convey this distinctive funding alternative to world traders. We imagine KSTR represents corporations which might be China’s future leaders throughout industries powering the expansion engine of China for many years to return.”
“The itemizing of the KraneShares SSE STAR Market 50 Index ETF (KSTR) on the NYSE is the primary SSE STAR Market-based ETF listed in abroad markets,” mentioned Harry FU Hao, Managing Director of World Enterprise Improvement Division on the Shanghai Inventory Trade. “We’re glad to work with the NYSE and KraneShares to offer abroad traders entry to the SSE STAR Market, the place star corporations from China’s high-tech industries and strategic rising industries cluster.”
“The NYSE is dedicated to bringing new funding alternatives to the general public by increasing the ETF ecosystem,” mentioned Douglas Yones, Head of Trade Traded Merchandise on the New York Inventory Trade. “As we speak’s launch of KSTR on NYSE Arca continues that mandate, giving traders entry to China’s STAR Marketplace for the primary time.”
For extra details about KSTR, go to kraneshares.com/kstr, or speak to your monetary advisor.
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