The latest news in investment offerings, financial products and other services relative to wealth advisors and their clients.

Hang Seng Investment
Hang Seng Investment has just launched Hang Seng S&P 500 Index Exchange-Traded Fund (ETF), offering both listed classes of units and unlisted classes of units.

The firm highlighted how the fund is an index-tracking fund which aims to match as closely as practicable, before fees and expenses, the dollar denominated total return performance (net of withholding tax) of the S&P 500 Index.

Investors of listed class units and unlisted class units are subject to different pricing and dealing arrangements and may be at an advantage or disadvantage depending on market conditions, the firm said in a statement. The net asset value per unit of each of the listed class units and unlisted class units may be different due to different fees and cost arrangement applicable to the units.

The listed class units of the fund are subject to trading risks, dual counter risks, trading differences risk, reliance on market maker risks, and currency risk.

The manager may at its discretion pay dividends out of capital or out of the capital of the fund, the firm added. The unlisted class units of the fund are subject to currency and exchange rate control risk and currency hedging risk, the firm said.