NEW YORK, Oct. 2, 2014 /PRNewswire/ -- After achieving a one year track record on August 1st and holding over $100mm in assets on August 20, 2014, KWEB will not only be the first China ETF but also the first technology ETF to hold Alibaba1, the US' largest initial public offering and China's largest e-commerce company.²
"KWEB is uniquely positioned to provide access to one of the fastest growing sectors in the world: China's Internet and e-commerce," said Jonathan Krane, CEO of KraneShares. "While Alibaba's record breaking IPO³ is a testament to the company's continued innovation, it also raises awareness of the sector."
Brendan Ahern, KraneShares' Managing Director, added, "Alibaba's successful IPO is due to the company's vision and execution in building businesses in anticipation of Chinese consumers' needs. The IPO is a testament to the hard work and vision of founder Jack Ma, and the leadership team and employees of Alibaba."
"We are excited to become shareholders in one of the world's most innovative and dynamic companies. Alibaba's IPO is a demonstration of the company's historic success. We believe that the China Internet sector is a very attractive investment opportunity right now," said Jonathan Krane.
The KraneShares CSI New China ETF (NYSE ticker KFYP) is expected to add Alibaba at its December rebalance.
About KraneShares:
KraneShares, a product of Krane Funds Advisors, is focused on serving global investors with ETFs for the next-wave of China's development. Founded in 2011, our New York based firm offers proprietary ETFs constructed to give US and global investors broad, diverse and quality exposure to China's historic growth story.
New York, NY www.kraneshares.com – info@kraneshares.com
Sources: ¹ETF Trends article titled "Waiting on Alibaba" September 11th, 2014 ²Bloomberg article titled "Alibaba's Banks Boost IPO Size to Record of $25 Billion" September 22, 2014 ³Bloomberg
Past performance does not guarantee future results
©2014 KraneShares
There is no guarantee that any security, including Alibaba, will be added to an index or a Fund.
Carefully consider the Funds' investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Funds' summary or full prospectus, which may be obtained by visiting http://kraneshares.com/resources/kraneshares_kweb_prospectus_2014.pdf. Read the prospectus carefully before investing.
For current holdings of KWEB, visit www.kraneshares.com/kweb
Investing involves risk, including possible loss of principal. There can be no assurance that a Fund will achieve its stated objective. The Funds focus their investments primarily with Chinese issuers and issuers with economic ties to China. The Funds are subject to political, social or economic instability within China which may cause decline in value. Fluctuations in currency of foreign countries may have an adverse effect on domestic currency values. Emerging markets involve heightened risk related to the same factors as well as increase volatility and lower trading volume. Current and future holdings are subject to risk.
Narrowly focused investments typically exhibit higher volatility. Internet companies are subject to rapid changes in technology, worldwide competition, rapid obsolescence of products and services, loss of patent protections, evolving industry standards and frequent new product productions. Such changes may have an adverse impact on performance.
The KraneShares ETFs are distributed by SEI Investments Distribution Company, which is not affiliated with Krane Funds Advisors, LLC, the Investment Adviser for the Fund.
SOURCE KraneShares