VanEck Vectors China New Economy ETF CNEW
Fund description: CNEW gives investors a portfolio of fundamentally sound companies in China having growth prospects in sectors making up ‘the New Economy’, namely technology, health care, consumer staples and consumer discretionary. CNEW aims to provide investment returns, before fees and other costs, which track the performance of the Index.
Index description: The CSI MarketGrader China New Economy Index aims to select the 120 companies in China with the best growth at a reasonable price (GARP) attributes, which are considered the best drivers of long-term capital appreciation. Companies are selected on the basis of the strength of 24 fundamental indicators across four factor categories: growth, value, profitability and cash flow.
Management style: Replication
Country of domicile: Australia
-
Exchange
ASX -
ASX code
CNEW -
Bloomberg index code
CSIN1086 -
Index provider
China Securities Index Co, Ltd. -
NAV1
$8.94 -
Units outstanding1
19,305,020 -
Net assets1
$172.7M -
Number of holdings1
120 -
Inception date2
08-Nov-18 -
ASX commencement
09-Nov-18
2The date the ETF was seeded prior to quotation on ASX.
as at 22-Jan-21
-
Distribution frequency
1 each year -
Management costs p.a.
0.95% - Investment management team »
- Market Announcements
- CNEW Fact Sheet
- Flyer: Step into tomorrow's prosperity today
- CNEW Index Rebalance
Key points
Underlying Index:
CSI MarketGrader China New Economy Index
Underlying universe:
All A-shares listed on the Shanghai and Shenzhen Stock Exchanges that are covered and rated by MarketGrader, that are classified as consumer discretionary, consumer staples, health care or technology, and which have not suffered losses for two or more consecutive years.
Selection criteria:
All Index components are selected based on their overall MarketGrader grade. Built on a scale between 0 and 100, the MarketGrader grade is based on 24 fundamental indicators, which are broken down into four analytical categories: growth, value, profitability and cash flow. All of MarketGrader’s indicators and overall grades are calculated daily for all companies under coverage.
Weighting:
The Index is equally weighted.
Market Capitalisation requirements:
All Index constituents must have a minimum total market cap of RMB 1.38 billion. At least 20% of all Index constituents (24 companies, 6 from each sector) must be designated as large or mid-caps according to MarketGrader’s annual size classification of all Shanghai and Shenzhen-listed equities under coverage.
Liquidity requirements:
A minimum 3-month daily traded value of RMB 13.8 million and at least 12-month aggregate trading volume of RMB 345 million as of the selection date.
Rebalance frequency:
The Index is reconstituted and rebalanced twice a year on the next trading day after the close of trading on the second Friday in June and December.
Index profile
-
Bloomberg index code
CSIN1086 -
Launch date
15-Jun-17 -
Base date
31-Dec-07 -
Rebalance frequency
Semi-Annually
Top ten index constituents (%) as at 31-Dec-20
Constituent name |
Ticker
|
Weightings (%) | |
---|---|---|---|
SHANXI XINGHUACUN FEN WINE-A |
600809 CH
|
1.23 | |
JIUGUI LIQUOR CO LTD-A |
000799 CH
|
1.16 | |
SHANDONG LINGLONG TYRE CO -A |
601966 CH
|
1.15 | |
SHANGHAI BAIRUN INVESTMENT-A |
002568 CH
|
1.11 | |
SUZHOU TA&A ULTRA CLEAN TE-A |
300390 CH
|
1.10 | |
GUANGZHOU WONDFO BIOTECH C-A |
300482 CH
|
1.07 | |
BEIJING WANJI TECHNOLOGY-A |
300552 CH
|
1.02 | |
LUZHOU LAOJIAO CO LTD-A |
000568 CH
|
1.01 | |
SICHUAN SWELLFUN CO LTD-A |
600779 CH
|
1.00 | |
CHANGCHUN HIGH & NEW TECH-A |
000661 CH
|
0.99 | |
Top ten total (%) | 10.84 |
Index sector weightings (%) as at 31-Dec-20
-
Sector
Weightings (%) -
Consumer Staples
26.6 -
Health Care
23.7 -
Consumer Discretionary
21.5 -
Information Technology
17.2 -
Industrials
6.0 -
Communication Services
2.6 -
Materials
2.4 -
Total
100.0