SAB Invest is proud to announce the listing of its new Exchange Traded Fund (ETF) “SAB Invest Hang Seng Hong Kong ETF”. The Fund, which will be one of the largest ETFs in the Saudi Market, will be launched in collaboration with Hang Seng Investment Management (“HSVM”), the largest ETF manager in Hong Kong.
The Fund is an exchange traded open ended investment fund, that aims to track the performance of the Hang Seng Index, which is considered the benchmark for the Hong Kong equity market. The index includes the 82 largest and most liquid stocks listed in Hong Kong stock exchange. The Fund will provide its investors with the most efficient and cost effective way to access the Hong Kong equity market at a competitive fee.
Mr. Ali AlMansour, Managing Director and CEO of SAB Invest commented “We are extremely proud to announce the launch of this ETF. This launch demonstrates SAB Invest's commitment to delivering cost-effective, transparent, and liquid investment options that meet the rising demand for global diversification. For Saudi investors, the SAB Invest Hang Seng Hong Kong ETF offers a streamlined and efficient way to engage in a vibrant market. This initiative is a reaffirmation of our goal to provide investors with global investment solutions and access to high-quality and unique opportunities across the globe. The listing of this ETF will also bring numerous benefits by enhancing the investment climate in the Kingdom and offering a variety of markets and instruments for local investors. It is part of our commitment in supporting the development of the local capital market and attracting & localizing foreign investments. It also symbolizes the deepening partnership between Saudi Arabia and China”
Rosita Lee, Director and Chief Executive Officer of Hang Seng Investment, said, “Hang Seng Investment is delighted to collaborate with SAB Invest on this exciting initiative. TraHK has once again been selected as the underlying investment for an ETF outside of Hong Kong, showing its appeal to international markets. The launch of this new ETF marks a significant step in strengthening the financial bridge between Hong Kong and GCC markets, providing Middle Eastern investors with a strategic gateway into the growth potential of Hong Kong and the mainland China’s capital markets. Leveraging Hong Kong’s position as a leading international financial centre and its role as a super connector between the mainland China and the rest of the world, Hang Seng Investment will continue to explore further opportunities in the global ETF market and facilitate cross-boundary capital flows.”
Howard Lee, Deputy Chief Executive of the Hong Kong Monetary Authority said: “We are pleased to see the collaboration between Hang Seng Investment Management and SAB Invest. The launch of the ETF in Saudi provides an opportunity for local investors to have exposure to the Tracker Fund of Hong Kong, which is tracking the Hang Seng Index. Hong Kong Monetary Authority is very glad to support the development which further demonstrates the strength of Hong Kong as an international financial centre."