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Hang Seng licenses Composite MidCap Index as basis for GF Fund listed open-end fund

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Hang Seng Indexes Company Limited (Hang Seng Indexes) has licensed the Hang Seng Composite MidCap Index (HSMI) to GF Fund Management Co (GF Fund) to serve as the underlying index for the creation of a listed open-ended fund (LOF).

The LOF has been listed on the Shanghai Stock Exchange.
 
The HSMI is a size index under the Hang Seng Composite Index (HSCI) and aims to reflect the overall performance of the MidCap sector of the Hong Kong stock market. The constituents of HSMI (excluding REITs) are eligible for trading via the southbound trading link of the Stock Connect scheme. As at 29 September 2017, the HSMI consisted of 184 constituents with a total market capitalisation of over HKD4.2 trillion.
 
The new LOF will bring the number of exchange-traded products linked to indexes in the Hang Seng Family of Indexes to 67 – with listings on 17 different stock exchanges across the world. By the end of September 2017, assets under management in exchange-traded products linked to indexes in the Hang Seng Family of Indexes had reached a total of more than USD27 billion. 

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