Tracker Fund of Hong Kong
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History
In 1998, the Hong Kong SAR Government acquired a substantial portfolio of Hong Kong shares to sustain linked exchange rate during the Asian Financial Crisis. To minimise disruption to the market, the Government chose to launch the initial public offering (IPO) of an ETF, "the Tracker Fund of Hong Kong", in 1999 as the first step in its disposal programme. State Street Global Advisors (SSGA) was appointed as the Fund Manager and State Street Bank and Trust Company (SSBT) was appointed as the Trustee of TraHK.[1][2]
In March 2022, Hang Seng Investment Management, a wholly owned subsidiary of the Hang Seng Bank, replaced SSGA as manager of the TraHK.[3]
References
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