Blackrock is reportedly planning to launch its first exchange-traded fund in mainland China, marking the first wholly-owned foreign fund manager to enter the country’s passives market.
Blackrock plans to launch an ETF in China’s onshore market in the fourth quarter of this year, according to a «Reuters» report citing unnamed sources.
The U.S. asset manager has yet to decide which index to track for its first ETF product and is currently in talks with several index providers.
One of the options under consideration is a carbon neutrality-themed index composed by China Securities Index Co.
Local Talent
In addition, Blackrock is also hiring ETF-related roles across portfolio management, operations and marketing with plans to initially form a team of five to six employees, the report added, though it also noted that candidate interviews have been moved online due to the ongoing lockdown in Shanghai.
According to fund association data, Blackrock’s Shanghai office currently houses at least 70 staff.
Last year, Blackrock became the first global asset manager licensed as a wholly-owned onshore mutual funds business.
