"China money market funds deliver investment-grade credit quality, very
short average maturity of 100 days and yields north of 4.50%5. Our goal is
to deliver a similar product to U.S. investors in an ETF wrapper which
provides intra-day liquidity and no minimums. We believe we've done that
with KCNY," said David Zhang, E Fund Management HK chief investment officer
and co-portfolio manager of the Fund. "Chinese onshore commercial paper
market has historically been very active and liquid, with more than $270
Billion USD outstanding and an average $3 Billion USD daily trading volume.6
" Zhang added.