News Snapshot:
Hong Kong has picked Hang Seng Investment Management to manage the Tracker Fund (TraHK), ending a two-decade mandate by State Street Global Advisors that threw the city’s biggest exchange-traded fund (ETF) into the middle of US-China friction last year. A seven-member supervisory committee chaired by George Hongchoy Kwok-lung named Hang Seng as the winner of a tender to manage TraHK, according to a statement to the Hong Kong stock exchange, where TraHK is listed. The Post reported on Monday about the imminent appointment. The appointment is expected to take effect in the third quarter after getting the approvals of the...
