Asset manager Mirae Asset Global Investments (Hong Kong)’s Global X Hang Seng TECH ETF has been added to the list of restricted schemes by the Monetary Authority of Singapore (MAS), making it available to accredited investors in Singapore.
The exchange-traded fund (ETF) was launched at the end of March 2023 and has already surpassed US$200 million in assets under management, indicating, the company says, strong demand for an efficient investment tool that accesses the innovative tech sector with high-growth potential.
The ETF tracks the Hang Seng TECH Index, which represents the 30 largest technology companies listed in Hong Kong that have high business exposure to technology themes and pass the index’s screening criteria.
The index covers sectors classified under information technology, consumer discretionary, healthcare, industrials and financials. It targets those with high business exposure to the selected technology themes, such as cloud, digital, e-commerce, fintech, internet or autonomous activities.
Wanyoun Cho, investment firm’s CEO, says that the fund allows investors in Singapore the opportunity “to participate in the global tech industry’s growth and diversify their investment portfolios”.