New ETF offers monthly payouts

Hang Seng Investment Management has launched Hong Kong's first monthly dividend-paying equity exchange-traded fund, with an issue price of HK$15 per unit and a board lot size of 400 units.

The Hang Seng High Dividend Yield 30 Index ETF (3466) tracks the Hang Seng High Dividend 30 Index, which includes 30 high-yielding securities selected from the Hang Seng Large-Mid Cap (Investable) Index.

The underlying index delivered an average dividend yield of 7.41 percent year-to-date and has consistently outperformed the broader market's annualized yield over the past five years.

Chief executive Rosita Lee Pui-shan said the ETF is an attractive option for investors seeking stable income, especially retirees or those looking for reliable passive income, and it also enhances the defensive nature of their portfolios.

Staff reporter