by Qontigo
Zug (November 16, 2022) — Qontigo, a global provider of indices and analytics and part of Deutsche Börse Group, has licensed the STOXX PSBC China A ESG Index to Postal Savings Bank of China (PSBC). The index serves as an underlying for an onshore wealth management vehicle launched by PSBC. The index applies an ESG score, exclusionary screens, and incorporates Qontigo’s quantitative portfolio construction tools.
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“After months of preparations following the announcement of the STOXX PSBC China A ESG index in March this year, PSBC Wealth Management is now launching the first wealth management product linked to the index to provide investors an investment plan in the high-quality China A-share market. PSBC Wealth Management will, as always, be committed to serving the real economy, assisting the country’s key strategic layout, and meeting people’s wealth management needs.”
Andrew Wu, Chairman, PSBC Wealth Management Corporation Limited
“We are excited to have completed our first collaboration with PSBC, one of the top players in China’s wealth-management industry, for a unique solution in that market. The STOXX PSBC China A ESG Index efficiently addresses the objective of enhancing the portfolio’s ESG profile, without generating excessive risk, turnover or sector biases. We foresee the index to become a benchmark for ESG performance among the country’s largest companies and to facilitate investor stewardship.”
Rick Chau, Managing Director for Sales, Asia/Pacific, Qontigo
The STOXX PSBC China A ESG Index selects from the largest 300 securities in the STOXX China A 900 Index. The index targets a portfolio with a superior ESG profile compared to the broad market, while maintaining similar risk characteristics. Companies that are assessed to be non-compliant with the UN Global Compact Principles, or involved in controversial weapons, tobacco or thermal coal are not eligible for selection. The final selection and weights are then determined using the Axioma Portfolio Optimizer to maximize the overall ESG score of the index, which must be at least 20% higher than the benchmark’s score.
