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Analyse: iShares FTSE China 25

Dieser ETF hält sich von Festland-China fern und investiert nur in Red Chips und H Shares. Hohes Gewicht von Finanztiteln beachten. 

Alastair Kellett 10.05.2013

Rolle im Portfolio

The iShares FTSE China 25 provides exposure to many of the largest and most liquid components of the Chinese equity universe, which has quickly gone from emerging market to global titan and as such has become an important part of a globally balanced portfolio. The Chinese economy now ranks third in the world, behind only Europe and the United States. The FTSE China 25 Index contains companies listed on the Stock Exchange of Hong Kong (Red Chips and H shares) and is heavily tilted towards the Financials sector, which made up 57.1% of the total at the end of April. Diversification at the security level is also limited, with more than 60% of the portfolio within the top 10 names. Returns from the FTSE China 25 have been highly erratic, exhibiting annual volatility of almost 30% since 2004. An investment like this therefore requires a lengthy time horizon and a very strong stomach to handle the swings. It has been a fairly good diversifier, though: since mid-2004 it has shown a correlation to the local currency price returns of the S&P 500 Index, the MSCI World Index, and the MSCI Europe Index of 62%, 66%, and 64% respectively. The fund passes along dividends from underlying stocks to unitholders in a quarterly distribution, currently at a yield level of 2.52%. So this fund might suit an investor seeking moderate levels of income, though the tax implications of such distributions for each investor would have to be taken into consideration.

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Über den Autor

Alastair Kellett  Al Kellett is an ETF analyst with Morningstar Europe.

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