CIMB-Principal Asset Management Bhd plans to list more Exchange-Traded Funds (ETFs) in future, given the tremendous demand for such funds globally, said Chief Executive Officer Campbell Tupling. However, he said the plan would depend on the market acceptance for the initial listings of CIMB FTSE Asean 40 Malaysia and the CIMB FTSE Xinhua China 25 which debuted on Bursa Malaysia here today. "We are looking to listing more ETFs. There are tremendous demand for this funds globally," he told reporters after the listing of both funds here today. CIMB FTSE Asean 40 Malaysia opened at RM1.39, with 20,000 shares traded, while the CIMB FTSE Xinhua China 25 opened at RM1 with 15,000 shares changing hands. Both funds are the first Malaysian ETFs to be based on cash creation and redemption structure. The CIMB FTSE Asean 40 Malaysia feeds into the CIMB FTSE Asean 40 which was listed on the Singapore Exchange in 2006. The fund aims to provide investment results that track its benchmark, the FTSE/Asean 40 Index, which comprise the top 40 stocks in Singapore, Malaysia, Thailand, Indonesia and the Philippines. The CIMB FTSE Xinhua China 25 aims to provide investment results that closely correspond to its benchmark, the FTSE/Xinhua China 25 Index, which was made up of 25 of the largest and most liquid Chinese stocks listed on the Hong Kong Stock Exchange. -- Bernama
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