Convoy plans fee-based online ETF platform
The asset management unit will seek to upgrade its type 1 licence to offer a platform for Hong Kong investors to trade US-listed ETFs. It sees greater ETF usage as a future industry trend.
Hong Kong firm Convoy Asset Management has revealed plans to launch an exchange-traded fund online platform for local investors to trade US-listed ETFs, pending regulatory approval.
Alan Ng, director for business development and investment management at Convoy, told AsianInvestor the company was considering charging a flat annual fee to allow an unspecified number of ETF trades, or a per trade fee similar to a brokerage fee.
“We see ETFs taking off in the context of a fee-based …
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