Hong Kong Stock Exchange: Premia BOC Hong Kong Saudi Islamic Bond ETF is expected to be listed and traded tomorrow
The Hong Kong Stock Exchange announced that the Premia BOC Hong Kong Saudi Islamic Bond ETF has been approved by the Hong Kong Securities and Futures Commission and is expected to be listed on May 29. This ETF tracks the Islamic bond index of the Saudi Stock Exchange and is the first ETF in Hong Kong based on Islamic securities. The indicative net asset value per share is HKD 81.04, with a management fee of 0.35%
According to Zhitong Finance APP, on May 28, the Hong Kong Stock Exchange announced that the Premia BOC Hong Kong Saudi Islamic Bond ETF (03478) has been approved by the Hong Kong Securities and Futures Commission as a collective investment scheme and is expected to be listed and traded on May 29 (Thursday), with the abbreviation "PP Saudi Bonds." In addition to the Hong Kong dollar counter, there is also a US dollar trading counter 09478. PP Saudi Bonds tracks the iBoxx Saudi Stock Exchange Government and Agency Islamic Bond Index, making it the first ETF in Hong Kong to target Islamic securities (Sukuk).
As of May 28, the indicative net asset value per share of PP Saudi Bonds is HKD 81.04, with a trading unit of 50 units, equivalent to an entry fee of approximately HKD 4,052.
The manager of PP Saudi Bonds is Ruya Asset Management, and the investment advisor is BOC Hong Kong Asset Management, with an estimated ongoing fee of 0.35% per year, intended to be distributed quarterly (in February, May, August, and November), but will only be distributed in US dollars.
PP Saudi Bonds primarily invests directly in Islamic bond securities issued by the government of Saudi Arabia and listed on the Saudi Stock Exchange, as well as Islamic bonds issued by Saudi government and agency issuers, mainly using an optimized representative sampling strategy. The relevant index includes 65 constituent securities. The market capitalization of the relevant index is approximately USD 168.05 billion
