Simmons & Simmons advised Samsung Asset Management (Hong Kong) Limited (SAMHK).
Samsung Asset Management launched Samsung NYSE FANG+ ETF (the “ETF”), the first ever FANG+ ETF in Hong Kong. It was listed today on the Stock Exchange of Hong Kong (“SEHK”) and currently comprises 10 leading US-listed technology and tech-enabled companies.
This is the latest sub-fund of the Samsung ETFs Trust, an umbrella unit trust that was set up by Simmons & Simmons in January 2015.
The objective of the sub-fund is to provide investment results that, before fees and expenses, closely correspond to the performance of the NYSE® FANG+™ Index. The Index is an equally weighted index designed to track the performance of highly-traded growth stocks of technology and tech-enabled companies, media & communications and consumer discretionary sectors such as Facebook, Apple, Amazon, Netflix and Alphabet’s Google amongst others.
Eva Chan (Picture), Simmons partner, led on the deal.
Involved fees earner: Eva Chan – Simmons & Simmons;
Law Firms: Simmons & Simmons;
Clients: Samsung Asset Management;