Hong Kong’s central bank is working with the supervisory board of the Tracker Fund to review State Street Global Advisors’ role as manager of the territory’s largest exchange traded fund in the territory.
There have been high-level discussions on replacing the manager since it flip-flopped earlier this year on whether to implement the Trump administration’s investment bans on companies linked to the Chinese military.
The Hong Kong Monetary Authority has been working closely with the six-member supervisory committee of the HK$94.43bn ($12.03bn) Tracker Fund of Hong Kong since January, when State Street made a U-turn after originally deciding to divest from the banned Chinese companies.