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Deutsche Börse today announced that DAX has been licensed to Shanghai-based fund company Fortune SG Fund Management Co. Ltd. to serve as the basis of the first index fund to be developed in China.
“DAX is one of the most attractive underlyings for financial products worldwide as it represents the top companies in one of Europe’s strongest economies. As a fully rules-based and objective index of leading German stocks, it provides market participants with the transparency and stability they require in an indexed investment,” said Hartmut Graf, chief executive officer, STOXX Limited.
STOXX Ltd. is the marketing agent for the indices of Deutsche Börse AG and SIX, including the DAX and SMI indices. Asia is a major focus for STOXX. The most recent accomplishments in the region are the licensing of the STOXX Global 1800 Minimum Variance Unconstrained and STOXX Global 1800 ex Japan Minimum Variance Unconstrained indices to Resona Bank and the EURO STOXX 50 Hedged JPY Index to Nomura for passive funds in Japan. The STOXX ASEAN-Five Select Dividend 50 Index was also licensed to Nomura for an ETP that was listed in Tokyo in March 2014. The EURO STOXX 50 Index was licensed to Mirae Asset Global Investments for an ETF listed in Seoul in April 2014. On May 8, 2014, the Chinese version of STOXX’s brand, “STOXX 势拓” was introduced.
“Local investors’ interest in investing in overseas markets is increasing dramatically in China because high net value individual investors now need to allocate their assets on a global level. Germany is the main strength of the Eurozone’s growth so it has the potential to be a focus of Chinese investors’ attention in the future,” said Huang Xiaoyi Helen, chief executive officer, Fortune SG Fund Management Co. Ltd.
The DAX measures the development of the 30 largest and most liquid companies on the German equities market and represents around 80 percent of the market capitalization authorized in Germany. It currently serves as the basis for more than 135,000 financial products and is one of the largest underlyings for derivatives globally. In October 2014, DAX was licensed to Recon Capital for U.S.-listed ETF, making the index available to investors as an ETF in Europe, Asia and the U.S. for the first time.
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Deutsche Börse is one of the world’s leading data and technology service providers for the securities industry with a product and service offering for issuers, investors, intermediaries and data vendors. The Group covers the entire value chain from trading, through clearing, to settlement and securities custody. Deutsche Börse Market Data + Services encompasses the Group’s extensive market data offering and external technology and connectivity services. The product and service range includes real-time and historical data from the Group's trading venues Eurex and Xetra as well as from cooperation partners. It also includes exclusive trading signals independent of its platforms such as economic indicators or macroeconomic news, reference data for 500,000 securities, approximately 10,500 indices including the STOXX and DAX index families, superior capital market infrastructure, and reliable connectivity services.
Fortune SG Fund Management Co. Ltd. is one of the fastest growing fund companies and an innovative player in China’s asset management industry. Fortune SG was incorporated in March 2003 as one of the first joint venture fund management companies in China. Fortune SG now manages assets of CNY 53.3 billion as of the end of September 2014, covering a comprehensive range of mutual funds and mandates comprising Equities, Hybrid Bonds, Money Market, Index and Alternatives investment. Now, Fortune SG is a branded sector investment expert in China. In 2003, Fortune SG launched the very first fund and the first sector fund in China Baokang Consumption Fund, has grown 520.55% since its inception with annualized returns of 17.53% as of the end of October 2014. Meanwhile, Fortune SG has established a leading position in China’s quantitative alpha investment field. It is managing 8 quantitative mutual funds and 12 quantitative mandates including China’s first money market ETF in 2012, which has become the largest one with an AUM of CNY 28.1 billion by 17 November 2014. In November 2014, in the first-ever Asia Investment Management Awards by Institutional Investor, Fortune SG is the only firm recognized in the China Equity category for delivering impressive results in the Asian market.