S&P 500-based exchange traded fund opens

The first S&P 500-based exchange traded fund in China was launched by Bosera Asset Management on Tuesday, further strengthening the presence of S&P Dow Jones Indices in China.

The ETF, a result of S&P Dow Jones Indices' license with Bosera Asset Management, is based on the premier measure of US stock market performance. It will enable Chinese investors to express their views on the US market.

The launch of the ETF offers a larger and more diversified range of investment opportunities for Chinese investors.

"S&P Dow Jones Indices is excited to be at the forefront of an evolving and robust financial market in China," said Alex Matturri, CEO of S&P Dow Jones Indices.

"China is of great strategic importance to S&P Dow Jones Indices and our relationship with Bosera Asset Management is another example of our commitment to helping Chinese investors diversify their portfolios internationally and across a new range of cost efficient and liquid products."

Assets under management of ETFs listed in the Chinese mainland (Shanghai and Shenzhen) rose to more than 150 billion yuan ($25 billion) in the third quarter of 2013 with close to 80 ETFs available in the market.