Mirae Asset has launched an income exchange-traded fund in Hong Kong.
The firm now boasts 28 ETFs and ETPs in Hong Kong, with its latest product offering exposure to some of the highest dividend-yielding securities in the region.
The Global X Asia Pacific High Dividend Yield ETF tracks the Solactive Asia Pacific High Dividend Yield Index, constituting 40 of the highest dividend-yielding securities listed in the region.
“Asia Pacific has consistently offered the highest levels of dividend yields compared to other regions around the world, driven by the strong fundamentals and healthy cash balances of its corporates,” said Jung Ho Rhee, chief executive of Mirae Asset. “The Global X Asia Pacific High Dividend Yield ETF aims to tap into the vast income opportunity presented by this region at a time when investors urgently need to protect their portfolios against rising inflation.”
The index factsheet shows that the constituent stocks are mostly in Taiwan (32.7%) and Australia (29.6%), while companies in both Japan and Korea each comprise 13.8% in the index.
The top three holdings are all energy companies in Australia: Whitehaven Coal (3.38%); New Hope Corporation (3.19%); and Woodside Energy Group (3.16%).
The index is reviewed and rebalanced on a quarterly basis, with the fund aiming to pay out dividends quarterly – in March, June, September and December.
Mirae Asset has over $204bn (£166bn, €199bn) of assets under management and offers 452 ETFs worldwide.
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