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18 July 2014 | Index services

DAX serves as basis for first-ever European exchange-traded fund in China Chinese investors can now access performance of leading German companies for the first time

The DAX index underlies the first exchange-traded fund (ETF) based on a European index that will be available in China. The HuaAn Germany DAX 30 ETF was introduced by HuaAn Asset Management Co. Ltd. on July 14, 2014 and will later be listed on the Shanghai Stock Exchange.

Later today the CEOs of STOXX Limited and HuaAn Asset Management will participate in a forum in Shanghai on global investing to present DAX as well as the new ETF to local market participants.

“DAX is one of the most recognized and well-known blue-chip indices in the world. As a completely rules-based and transparent barometer of top German companies, the index remains a leading choice to underlie a wide range of financial products,” said Hartmut Graf, chief executive officer, STOXX Limited. “We are pleased that HuaAn has selected DAX to underlie the first European ETF in China.”

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 ASEAN-Five Select Dividend 50 Index to Nomura for an ETF which was listed in Tokyo on March 12, 2014, the licensing of the EURO STOXX 50 Index to Mirae Asset Global Investments for an ETF listed in Seoul on April 30, 2014 and most recently, the introduction of the Chinese version of STOXX’s name, “STOXX 势拓”, on May 8, 2014.

"As one of the innovation leaders in China’s mutual fund industry, HuaAn is dedicated to product and business innovation to meet investors’ growing demand for wealth management and asset allocation. We are pleased to launch the Germany DAX 30 ETF & feeder fund, which is the first mutual fund specializing on German stocks in China. This product also opens the door to invest in Germany and EU for China investors,” said Li Qing, CEO of HuaAn. "The era of global asset allocation has come to China, and HuaAn aims to be the leading asset management company at home and abroad."

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.