Hang Seng Bank : Investment Management Limited Honoured to be Selected as the Manager of Tracker Fund of Hong Kong (29 March 2022)

29 March 2022

Hang Seng Investment Management Limited Honoured to be Selected as the Manager of Tracker Fund of Hong Kong

Hang Seng Investment Management Limited ('HSVM'), which is a wholly-owned subsidiary of Hang Seng Bank Limited, is honoured to be selected by the Supervisory Committee of Tracker Fund of Hong Kong ('TraHK') to be the Manager. The appointment is subject to regulatory approvals and the transition is expected to be completed in the third quarter of 2022.

"It is a privilege for Hang Seng Investment Management Limited to be given the responsibility of managing TraHK, which holds a deep meaning for Hong Kong," said Diana Cesar, Executive Director and Chief Executive of Hang Seng Bank, parent company of HSVM. "TraHK was created for Hong Kong people and its debut in 1999 marked the start of our city's exchange-traded fund industry. Today, it is one of the largest equity ETFs in Asia (ex-Japan). TraHK underpins the retirement / wealth proposition for much of Hong Kong's working population, with Mandatory Provident Fund (MPF) investments accounting for approximately 17.5%* of TraHK's assets. Like TraHK, Hang Seng Bank and HSVM are deeply rooted in Hong Kong. This will also further strengthen Hang Seng's footprint and coverage in providing top notch wealth management service to the Hong Kong public."

Rosita Lee, Director and Chief Executive Officer of HSVM said: "HSVM's strong asset management track record spans over 28 years and we are recognised# in the industry as a market leader in passive investment delivering consistently good tracking performance."

HSVM started managing index funds in 1995. Today, it is one of Hong Kong's largest asset managers with assets under management (AUM) growing at an annualised rate of 17.5%^ and is ranked the second largest ETF manager locally in AUM terms. Recently, HSVM was among the first Hong Kong asset management companies to launch an exchange-traded fund under the Mainland-Hong Kong ETF Cross-listing scheme.

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"With our team of expert investment managers, we are committed to providing quality and good value service to TraHK's unitholders and the community. Our focus now is to work closely with the Trustee (State Street Bank and Trust Company) of TraHK and the incumbent manager to ensure a smooth transition of management responsibilities." added Ms Lee.

Further information about the selection of HSVM as the new manager of TraHK can be found in the Supervisory Committee's statement which is available on TraHK's website (https://www.trahk.com.hk/eng/).

* Information as of 31 December 2021 # HSVM won 3 awards in Bloomberg Businessweek/ Chinese Edition in 2021 and the Best ETF Manager in CAPITAL Merits of Achievement in Banking and Finance 2021 ^ It is based on the year-end AUM for the period of 1999 - 2021.

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About Hang Seng Investment Management

Established in 1993, Hang Seng Investment Management Limited ('HSVM') is a wholly-owned subsidiary of Hang Seng Bank Limited. As a Hong Kong-based asset management company specialising in managing funds related to mainland China and Hong Kong markets, HSVM is committed to providing investors with comprehensive investment management services through investment managers with extensive experience in managing funds (including a series of exchange traded funds (ETFs) and retail funds) and investment portfolios for institutional and private clients. HSVM is a leading home-grown asset manager in Hong Kong with over 28 years of market leading asset management experience.

As of March 2022, HSVM manages a total of 48 ETFs and retail funds, out of which 17 are index or index-related funds and nine are ETFs.