KraneShares
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| Private Company | |
| ISIN | 🆔 |
| Industry | Investment management |
| Founded 📆 | New York, NY, U.S. (2013) |
| Founder 👔 | Jonathan A. Krane |
| Headquarters 🏙️ | , |
Area served 🗺️ | |
Key people | Jonathan A. Krane, CEO Brendan Ahern, CIO Jonathan Shelon, COO David Adelman, General Counsel Dr. Xiaolin Chen, Head of International Joseph Dube, Head of Marketing Odette Gafner, Head of Compliance |
| Products 📟 | Exchange-traded Funds (ETFs), Mutual Funds, UCITS ETFs |
| Members | |
Number of employees | |
| 🌐 Website | https://kraneshares.com/ |
| 📇 Address | |
| 📞 telephone | |
KraneShares is a New York-based investment firm that specializes in providing investment opportunities for those interested in gaining exposure to the Chinese markets. Founded in 2010, the company offers a variety of ETFs (Exchange-Traded Funds) that invest in Chinese and Hong Kong-based companies, as well as other Asian emerging markets. The ETFs cover a diverse range of sectors, including technology, consumer goods, healthcare, and infrastructure.
The firm is also providing access to global carbon markets.[1] KraneShares launched the first US-listed global carbon credit ETF, the KraneShares Global Carbon Strategy ETF (KRBN) in 2020.[citation needed] KraneShares has since expanded its climate suite to include individual carbon compliance markets, voluntary carbon offset markets, and global equities leading the clean energy transition.[2]
KraneShares also offers research and analysis on the Chinese economy and markets, along with educational resources to help investors understand how to invest in China. The firm's goal is to provide a straightforward and accessible way for investors to tap into the world's second largest economy.
History[edit]
In 2013, the KraneShares CSI China Internet ETF (KWEB) was the first ETF launched by KraneShares.[3]It has since become the largest China focused ETF.[4][5]To date, KraneShares ETFs have 30 ETFs trading on U.S. markets and 7 UCITS.[citation needed]
In 2014, KraneShares was the first asset manager to launch an MSCI-linked China A-Share ETF in the United States.[6][7] The KraneShares Bosera MSCI China A 50 Connect Index ETF (KBA) utilizes Stock Connect to provide access to 50 large-cap Shanghai and Shenzhen listed stocks (A-shares).[8] MSCI, the global indexing company, moved to include Mainland Shanghai and Shenzhen listed China A-Shares into their Global Standard Indexes in February of 2019.[9]
In 2017, China International Capital Corporation (CICC) formed a strategic partnership with KraneShares, taking a majority ownership stake in the firm.[10][11]In the same year KraneShares Launched the One Belt One Road ETF (OBOR), which tracks beneficiaries of Belt and Road Initiative, the global infrastructure development strategy adopted by the Chinese government in 2013.[12] In 2018 CICC and KraneShares hosted a One Belt One Road summit in New York City.[13]
In 2019, KraneShares launched KFA Funds.[citation needed] The firm partnered with Quadratic Capital Management, which is led by Chief Investment Officer Nancy Davis. The first fund launched under this branch is The Quadratic Interest Rate Volatility and Inflation Hedge ETF (IVOL).[14][15]
In 2020, former Secretary of State John Kerry joined KraneShares to ring the bell at the New York Stock Exchange to commemorate the launch of the KraneShares Global Carbon Strategy ETF (KRBN).[16][17] KRBN combines the largest carbon allowance futures markets in the world including the European Union Allowances (EUA),[18] California Carbon Allowances (CCA), the Regional Greenhouse Gas Initiative (RGGI), and United Kingdom Allowances (UKA).[19]
Risks[edit]
Investing in Exchange traded funds that cover a niche sub-sector like many of KraneShares ETFs, have similar risks as investing in individual stocks as they may have concentration risk.[19]
KraneShares China ETFs like KWEB, could potentially be impacted by China–United States relations and China–United States trade war. The Holding Foreign Companies Accountable Act, enacted in December 2020 banned Chinese companies and Chinese American depositary receipts (ADRs) from American stock exchanges if they fail to meet US auditing standards for three years in a row. Many of KraneShare's China ETFs contain Chinese ADRs that could face delisting.[20] On March 11th KraneShares announced they will fully transition to holding Hong Kong listed stocks to avoid delisting risk.[21][22]
Critics have also raised questions about KraneShares's Carbon allowance ETFs: KRBN, the California Carbon Allowance Strategy ETF (KCCA), and the KraneShares European Carbon Allowance Strategy ETF (KEUA) for as by buying the ETF, investors are in theory withdrawing carbon allowances from the market and therefore preventing polluters from using them, which could result in adverse market effects.[2]
Funds[edit]
KraneShares ETFs manages the following exchange-traded funds:
| Fund name | Ticker | Type | Created |
|---|---|---|---|
| KraneShares CSI China Internet ETF | KWEB | Index-based | 2013 |
| The Quadratic Interest Rate Volatility and Inflation Hedge ETF | IVOL | Active | 2019 |
| KraneShares Global Carbon Strategy ETF | KRBN | Index-based | 2020 |
| KraneShares Bosera MSCI China A 50 Connect Index ETF | KBA | Index-based | 2014 |
| KraneShares Electric Vehicles & Future Mobility ETF | KARS | Index-based | 2018 |
| KraneShares California Carbon Allowance Strategy ETF | KCCA | Index-based | 2021 |
| KraneShares MSCI China Clean Technology Index ETF | KGRN | Index-based | 2017 |
| KraneShares MSCI All China Health Care Index ETF | KURE | Index-based | 2018 |
| The Quadratic Deflation ETF | BNDD | Index-based | 2021 |
| KFA Mount Lucas Index Strategy ETF | KMLM | Index-based | 2020 |
| KraneShares SSE STAR Market 50 Index ETF | KSTR | Index-based | 2021 |
| KraneShares Emerging Markets Consumer Technology ETF | KEMQ | Index-based | 2017 |
| KFA Large Cap Quality Dividend Index ETF | KLCD | Index-based | 2019 |
| KraneShares MSCI Emerging Markets ex China Index ETF | KEMX | Index-based | 2019 |
| KFA Value Line® Dynamic Core Equity Index ETF | KVLE | Index-based | 2020 |
| KraneShares Asia Pacific High Income Bond ETF | KHYB | Active | 2018 |
| KraneShares European Carbon Allowance Strategy ETF | KEUA | Index-based | 2021 |
| KFA Small Cap Quality Dividend Index ETF | KSCD | Index-based | 2019 |
| KraneShares CICC China 5G & Semiconductor ETF | KFVG | Index-based | 2020 |
| KraneShares Bloomberg China Bond Inclusion Index ETF | KBND | Index-based | 2014 |
| KraneShares Global Carbon Offset Strategy ETF | KSET | Index-based | 2022 |
| KraneShares MSCI One Belt One Road ETF | OBOR | Index-based | 2017 |
| KraneShares CICC China Consumer Leaders Index ETF | KBUY | Index-based | 2020 |
| KraneShares CICC China Leaders 100 Index ETF | KFYP | Index-based | 2013 |
| KraneShares MSCI All China Index ETF | KALL | Index-based | 2015 |
| KraneShares MSCI China ESG Leaders ETF | KESG | Index-based | 2020 |
| KraneShares Hang Seng TECH Index ETF | KTEC | Index-based | 2021 |
| KraneShares China Innovation ETF | KGRO | Index-based | 2021 |
| KraneShares Global Carbon Transformation ETF | KGHG | Active | 2022 |
| KraneShares Emerging Market Healthcare Index ETF | KMED | Index-based | 2018 |
References[edit]
- ↑ Liu, E. (2021, August 16). This fund will benefit from climate-change regulations. Barron's. Retrieved June 7, 2022, from https://www.barrons.com/articles/etf-benefit-climate-change-regulation-51628880175?mod=md_funds_news
- ↑ 2.0 2.1 Boyde, E. (2021, November 8). Physical Carbon Credit ETF wins praise despite some misgivings. Financial Times. Retrieved June 1, 2022, from https://www.ft.com/content/8fdc485a-b9d6-4749-a7d5-3249f1ab4475
- ↑ Journal, W. S. (n.d.). KWEB | Kraneshares CSI China internet ETF stock price, quotes and news - WSJ. The Wall Street Journal. Retrieved June 1, 2022, from https://www.wsj.com/market-data/quotes/etf/KWEB
- ↑ "china etfs". etf.com. Retrieved July 1, 2022.
- ↑ "Largest China Tech ETF in U.S. Wipes Out Nine Years of Gains". Bloomberg.com. 2022-03-14. Retrieved 2022-07-01.
- ↑ KraneShares and Bosera License the MSCI China A Index for New ETF Trading on NYSE. MSCI. (2014, March 10). Retrieved June 8, 2022, from https://www.msci.com/documents/10199/01cfbec6-70d9-435d-9b3e-2046b35ab7b1
- ↑ Krane, Jonathan Adam (2022). The China Dream: How the Aspirations of Government, Business, and People are Driving the Greatest Transformation in History. BenBella Books, Inc. p. 7. ISBN 9781637741016.
- ↑ Journal, W. S. (n.d.). KBA | kraneshares Bosera MSCI China a 50 connect index ETF stock price, quotes and news - WSJ. The Wall Street Journal. Retrieved June 7, 2022, from https://www.wsj.com/market-data/quotes/etf/KBA
- ↑ MSCI China a inclusion. MSCI. (n.d.). Retrieved June 7, 2022, from https://www.msci.com/msci-china-a-inclusion
- ↑ Cui, C. (2017, July 11). China's CICC jumps into U.S. ETF market. The Wall Street Journal. Retrieved June 8, 2022, from https://www.wsj.com/articles/chinas-cicc-jumps-into-u-s-etf-market-1499805485
- ↑ Bloomberg. (n.d.). China's CICC fends off wall street with hiring, takeovers. Bloomberg.com. Retrieved June 8, 2022, from https://www.bloomberg.com/news/articles/2021-04-25/china-s-cicc-fends-off-wall-street-with-hiring-spree-takeovers#xj4y7vzkg
- ↑ Harris, Jerry R. “Who Leads Global Capitalism? The Unlikely Rise of China.” Class, Race and Corporate Power, vol. 6, no. 1, 2018. JSTOR, https://www.jstor.org/stable/48645468. Accessed 2 Jul. 2022.
- ↑ Xinhua News Agency. "Belt &Road Initiative brings opportunities to countries involved: US experts". Retrieved July 5, 2022.
- ↑ Zweig, J. (2021, December 4). Fighting inflation without getting carried away. The Wall Street Journal. Retrieved June 2, 2022, from https://www.wsj.com/articles/fighting-inflation-in-your-investment-portfolio-11638546686?page=1
- ↑ Bloomberg. (n.d.). Quadratic Capital Nancy Davis on Fed, Inflation. Bloomberg.com. Retrieved June 7, 2022, from https://www.bloomberg.com/news/videos/2022-05-17/quadratic-capital-nancy-davis-on-fed-inflation-video
- ↑ Leung, S. (2020, September 21). John Kerry takes the climate change fight to wall street - the boston globe. BostonGlobe.com. Retrieved June 1, 2022, from https://www.bostonglobe.com/2020/09/20/business/john-kerry-takes-climate-change-fight-wall-street/
- ↑ Bloomberg. (n.d.). John Kerry Backs New Carbon-Price ETF in Climate Change Fight. Bloomberg.com. Retrieved June 8, 2022, from https://www.bloomberg.com/news/articles/2020-07-30/john-kerry-backs-new-carbon-price-etf-in-climate-change-fight#xj4y7vzkg
- ↑ Jeszke, Robert and Lizak, Sebastian. "Reflections on the Mechanisms to Protect Against Formation of Price Bubble in the EU ETS Market" Environmental Protection and Natural Resources, vol.32, no.2, 2021, pp.8-17. https://doi.org/10.2478/oszn-2021-0005
- ↑ 19.0 19.1 Wild, Russell (2021). Exchange-Traded Funds For Dummies. Wiley. p. 267. ISBN 9781119828853. Search this book on
- ↑ "Chinese ADR delisting threat looms over ETFs". Financial Times. 2022-03-24. Retrieved 2022-07-07.
- ↑ "What Happens to Your ETFs if Chinese Stocks Delist?". Morningstar, Inc. 2022-03-25. Retrieved 2022-07-08.
- ↑ Yang, Jing (2022-07-26). "Alibaba to Pursue Primary Listing in Hong Kong". Wall Street Journal. ISSN 0099-9660. Retrieved 2022-07-27.
External links[edit]
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