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Ossiam, a Paris-based provider of exchange-traded funds and a specialist in smart beta solutions, has announced the signing of a cooperation agreement with China Securities Index Company (CSI), a leading Shanghai-based index provider.
Ossiam will contribute expertise in minimum variance index construction to CSI, which is developing a minimum variance index based on its well known CSI 300 Index.
The CSI 300 aims to reflect the price fluctuation and performance of the China A-shares market. It is widely used as a performance benchmark and as the basis for index-linked investment products such as ETFs.
The A-shares market is made up of domestic, onshore renminbi-denominated securities traded on mainland Chinese exchanges. It is typically viewed as the most authentic Chinese equity market.
The Ossiam research team has extensive experience in the design and management of rule-based, transparent minimum variance portfolios based on various equity investment universes, including those in Europe, the US, global and emerging markets, and manages more than $1.29 billion in minimum variance strategies in ETFs and segregated mandates.
Bruno Poulin, chief executive of Ossiam, said: “We are delighted to work with CSI on this exciting project. As the first asset manager in the world to launch minimum variance ETFs in 2011, we have a track record that strongly backs our approach. We believe rigour, consistency and transparency of our own minimum variance process were the reasons why CSI selected Ossiam as a partner to assist in the construction of their minimum variance index. This cooperation also shows our ability to innovate and partner on the global stage, sharing our strengths and capabilities through cooperation with a leading index provider in Asia.”
Ma Zhigang, chief executive officer of CSI, added: “CSI calculates nearly 2000 end-of-day and real-time indices covering equity, fixed income, commodities and other alternative assets in mainland China, greater China and other global markets. The cooperation with Ossiam helps to provide more valuable solutions to market participants.”