China state fund's unit boosts ETF holdings by $38.3 bln in Q3, state media says
BEIJING, Oct 25 (Reuters) -Chinese sovereign fund Central Huijin Investment's asset management unit has boosted its holdings in four exchange-traded funds (ETFs) by over 270 billion yuan in the third quarter, state-backed China Securities Journal reported on Friday.
Specifically, Central Huijin Asset Management's holdings in the Huatai-PB CSI300 ETF 510300.SS, E Fund CSI300 Index ETF 510310.SS, Harvest CSI 300 ETF 159919.SZ and ChinaAMC CSI 300 ETF 510330.SS likely rose by approximately 273.1 billion yuan ($38.33 billion), based on a comparison of their mid-year and third-quarter performance reports.
The report also indicated that Central Huijin Investment likely maintained its holdings in these four ETFs in the third quarter.
China's ETF market is flourishing, supported by favourable policies and a growing preference among investors for low-cost, transparent investment tools.
($1 = 7.1244 Chinese yuan renminbi)
Reporting by Beijing newsroom and Shanghai newsroom, Editing by Louise Heavens
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