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China Index Fund Adopts Xinhua/FTSE Index As Benchmark
Xinhua/FTSE Index Limited (XFI) announced Tuesday that the London-based China Index Fund Limited has decided to adopt the Xinhua/FTSE China B All-Share Index as the benchmark index with effect from September 1, 2001.
Fredy Bush, chairman of the XFI and CEO of Xinhua Financial Network, said the use of the XFI's indices represents the internationalization of China's capital market as the country prepares itself for a growing role in the global economic community.
"I'm delighted that the China Index Fund Limited has adopted the Xinhua/FTSE China B All-Share Index. We welcome the fund's decision as it demonstrates greater acceptance of XFI's indices in the China market," she said.
George Long, director of the China Index Fund Limited, said the Xinhua/FTSE China B All-Share Index was selected because its construction follows internationally accepted standards and rule- based methodology offering transparency, predictability and investibility.
Xinhua/FTSE China B All-Share Index was launched on July 26, 2001, tracking the performance of 107 B shares listed in Shanghai and Shenzhen. Established on December 30, 1997, the China Index Fund is an open-end fund to provide investors with an efficient way to gain exposure to the growth in China through the China B share market.
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