HONG KONG: The first MAG Seven ETF in Hong Kong, CSOP MAG Seven ETF (3454.HK), will be listed on the Hong Kong Stock Exchange on November 6, 2024. In order to track the performance of the Solactive Magnificent Seven Index (the ‘Index’), 3454.HK deploys a full replication strategy. With a listing price of about 7.8 HKD per unit, a trading unit of 100, and a management fee of 0.6%, 3454.HK has received an initial investment of 5 million US dollars.

According to BERNAMA News Agency, the term ‘MAG Seven’, or ‘Magnificent Seven’, was coined by Bank of America Chief Investment Strategist Michael Hartnett in 2023. Tech behemoths comprising Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla make up the ‘MAG Seven’ universe. MAG Seven companies are known for their market leadership, technological influence, and impact on consumer behavior. With USD 15.41 trillion of market cap, MAG Seven stocks have now surpassed the total size of Japan, Canada, and the UK’s stock markets. MAG Seven’s weight in the SandP 500
Index has approximately tripled since 2015, rising from 11.93% to 31.65%. In the tech-heavy Nasdaq 100 Index, the proportion of MAG Seven has retained its magnificence with a steady increase, dominating the market perennially.