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Deutsche Asset & Wealth Management (DeAWM) has announced that the estimated net expense ratio of the recently launched db X-trackers Harvest CSI 300 China A-Shares ETF (ASHR) will be trimmed from 1.08% to 0.82%.
Since the fund launched on November 6, 2013, with an initial capital investment of $108 million, assets under management have almost doubled to $212 million, while the fund’s average daily volume has reached approximately 350,000 shares per day.
“The early success of the ASHR ETF allows us to pass along the cost savings to investors through this arrangement,” said Martin Kremenstein, head of Passive Asset Management for DeAWM Americas.
To date, the NYSE Arca-listed product is the only US-listed ETF to provide physical exposure to Chinese A-shares. A-shares are shares of mainland Chinese companies traded on mainland Chinese exchanges and denominated in Chinese renminbi.
The ETF is able to invest directly in A-shares under the Renminbi Qualified Foreign Institutional Investor (RQFII) quota scheme, owing to its partnership with China-based Harvest Global Investments.
The fund is linked to the performance of the CSI 300 Index, an index composed of the 300 largest and most liquid stocks in the China A-share market.
DeAWM’s US exchange-traded products (ETP) platform currently has approximately $12 billion in assets under management (as of September 30, 2013). The firm’s global ETP platform, launched in 2006, has grown to become the world’s fifth largest, with approximately $66 billion in assets under management (as of September 30, 2013).