CSOP Asset Management has launched a themed equity ETF in Hong Kong that offers exposure to US and Chinese companies active in the cloud computing sector.
The CSOP Global Cloud Computing Technology Index ETF (3194 HK) has been listed on the Hong Kong Stock Exchange (SEHK) and hits the market with around $ 10 million in assets.
It is traded in Hong Kong dollars and has ongoing fees of an estimated 1.50%, including a 0.99% management fee.
The cloud computing industry has been one of the fastest growing segments of the global tech sector in recent years, a trend that accelerated during the Covid-19 pandemic.
Global research firm Gartner states that global spending on public cloud services is projected to reach $ 332 billion in 2021, up 23.1% from 2020.
The US is the largest public cloud market, with the sector being …