The Sygnia Itrix New China Sectors exchange traded fund (ETF) has been approved for a secondary listing on A2X Markets.
Sygnia’s newest ETF will be available for trade on A2X from 29 April 2022. The Itrix New China Sectors ETF joins 13 other Sygnia Itrix ETFs already listed on A2X.
Sygnia is the largest international equity ETF provider in South Africa and offers investors the widest range of ETFs that track international equity markets.
The objective of the Sygnia Itrix New China Sectors ETF is to provide an investment vehicle that gives easy access to investors who want to achieve long-term capital appreciation by tracking the performance of the S&P New China Sectors Index (.SPNCSUT) (the benchmark). The benchmark measures the performance of China- and Hong Kong-domiciled companies in consumption- and service-oriented industries.
Sygnia CEO David Hufton states that, “Despite declining growth rates, there are plenty of more nuanced opportunities within China that warrant investor attention. By isolating specific sectors, Sygnia investors can now access a much more targeted approach to China’s evolving growth.”
Hufton added, “Our listing on A2X provides our investors with a wider choice of venues on which to transact, and the opportunity to capture the benefits their platform offers in the form of lower exchange fees, narrower spreads and added liquidity.”
Kevin Brady, A2X CEO, says, “The New China Sectors ETF is an exciting addition to the suite of ETFs listed on A2X, with the latest being the fourteenth Sygnia Itrix ETF to list. We continue to provide Sygnia ETF investors with the opportunity to enjoy the savings and other benefits that a secondary listing on A2X brings across a number of product ranges.”
A2X was authorised by its dual regulators, the FSCA and the Prudential Authority, to secondary list exchange traded products in 2019 and will now offer 17 ETFs and 2 ETNs on its market.
The listing of this ETF brings the number of instruments available for trade on A2X to 63, with a combined market capitalisation of over R4 trillion.
A2X is a licensed stock exchange that provides companies with a secondary listing venue. It is regulated by the Financial Sector Conduct Authority and the Prudential Authority (SARB) in terms of the Financial Markets Act. A2X began trading in October 2017, and seven approved brokers account for over 60% of total market activity.