Tracker Fund of Hong Kong

What Tracker Fund of Hong Kong does

Tracker Fund of Hong Kong (TraHK, SEHK: 2800; RMB counter: 82800) is a Hong Kong-domiciled unit trust authorised under section 104(1) of the Securities and Futures Ordinance. Launched in November 1999 as the first exchange-traded fund on the Stock Exchange of Hong Kong, TraHK is a physical ETF that holds all or substantially all constituent stocks of the Hang Seng Index in substantially the same weightings, aiming to deliver investment results that closely correspond to the Index. The fund was originally established by the HKSAR government (via Exchange Fund Investment Limited) as the centrepiece of its 1998-disposal programme, returning HK$140.4 billion of constituents to the market by October 2002. Hang Seng Investment Management Limited (a wholly-owned subsidiary of Hang Seng Bank) has managed TraHK since 19 September 2022, with HSBC Institutional Trust Services (Asia) Limited acting as Trustee since 8 October 2025.

The fund is distributed through 13 participating dealers, nine MPF providers, monthly stock investment programmes (from HK$1,000), and Stock Connect Southbound trading (HKD counter). TraHK trades on SEHK in board lots of 500 units, with creation/redemption units of 1,000,000; it aims to pay semi-annual dividends (May and November) in HKD. Revenue is generated from a management and trustee fee expressed as a percentage of average NAV, with ongoing charges of 0.06% per annum effective 17 April 2026 (down from 0.08% effective September 2022). The fund is authorised for offer only in Hong Kong, with explicit restrictions on US and Canada.

TraHK's customer base spans four primary segments: MPF scheme members (retirement savings), institutional investors (central banks, government organisations, pension schemes, insurance companies, endowments and foundations), retail investors (via brokers and monthly savings plans), and the institutional primary market for large creation/redemption flows. Customers use TraHK as a low-cost, liquid vehicle for diversified Hong Kong equity exposure, with semi-annual dividend distributions serving as income.

Name

Tracker Fund of Hong Kong

Legal name

Tracker Fund of Hong Kong

Website

https://trahk.com.hk

Company type

Public

Founded year

1999

Operating status

Operating

Headcount range

501–1,000 employees

Short description

The Tracker Fund of Hong Kong (TraHK, SEHK: 2800) is a physical exchange-traded fund tracking the Hang Seng Index, serving retail, MPF, and institutional investors in Hong Kong with low-cost, diversified equity exposure since 1999.

Ownership category

akta.pro rank

Headquarters

HQ city

Wan Chai

HQ country

Hong Kong SAR China

HQ region

Asia

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Management Fee and Trustee Fee: TraHK charges a management fee and trustee fee expressed as a percentage of the Fund's average Net Asset Value. With effect from 17 April 2026, the ongoing charges over a year is 0.06% (previously 0.08% with effect from 19 September 2022). Fees are accrued daily and deducted from the fund's assets.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

The Tracker Fund of Hong Kong (TraHK) is an exchange-traded fund listed on the Stock Exchange of Hong Kong (SEHK: 2800; RMB counter: 82800) that provides investment results closely corresponding to the performance of the Hang Seng Index. TraHK is a physical ETF holding shares in all Hang Seng Index constituent companies in substantially the same weightings, offers semi-annual HKD dividend distributions, and is accessible to retail investors, MPF scheme members, and institutional investors through brokers, MPF providers, and participating dealers.

Product overview

The Tracker Fund of Hong Kong operates as a single, unified exchange-traded fund product (TraHK, SEHK: 2800) that tracks the Hang Seng Index. It is not a multi-module platform; the core product is TraHK itself — a physical ETF holding all Hang Seng Index constituent stocks. The only named sub-product is the 'TraHK in MPF Funds' wrapper, which enables MPF scheme members to access TraHK through retirement savings plans managed by approved MPF providers. There is no additional software product, SaaS module, or developer platform. The product offering is limited to this one fund and its MPF access route.

Differentiator

Problem solved

Functional benefit

Products and services

• Tracker Fund of Hong Kong (TraHK) The Tracker Fund of Hong Kong (TraHK) is an exchange-traded fund listed on the Stock Exchange of Hong Kong (SEHK: 2800; RMB counter: 82800) that provides investment results closely corresponding to the performance of the Hang Seng Index. It is a physical ETF holding shares in all Hang Seng Index constituent companies in substantially the same weightings. Investors can trade units like ordinary shares through stock brokers and banks during Hong Kong trading hours, via monthly stock investment programmes, through MPF funds, or through the primary market creation/redemption mechanism for institutions. The fund aims to pay semi-annual dividends in HKD. As of 17 April 2026, the ongoing charges over a year is 0.06%.
• TraHK in MPF Funds A distribution wrapper that allows Mandatory Provident Fund (MPF) scheme members to invest in TraHK via MPF funds offered by 9 participating MPF providers (American International Assurance, Bank of Communications Trustee, Bank of East Asia Trustees, BCT Financial, FIL Investment Management, Invesco Hong Kong, Manulife International, Principal Trust Company Asia, and SunLife Hong Kong). Provides diversified exposure to Hong Kong-listed companies at low management fees within a retirement savings context.

Quantifiable outcome

• Ongoing charges over a year of 0.06% (effective 17 April 2026), down from 0.08% effective 19 September 2022
• +3 more outcomes

Named customers4 records

Segments6 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

28 partnerships are on record, tiered core and minor.

• HSBC Institutional Trust Services (Asia) LimitedcoreOthers · 8 October 2025As of 08 October 2025, HSBC Institutional Trust Services (Asia) Limited was appointed as the new Trustee of TraHK. HSBC Institutional Trust Services (Asia) Limited is registered as a Trust Company under the Hong Kong Trustee Ordinance and is a wholly-owned subsidiary of HSBC Holding Plc. As of June 2025, HSBC provides fiduciary services in 18 jurisdictions globally for circa 3,000 funds with assets in excess of USD1.5 trillion.
• Exchange Fund Investment Limited (EFIL)minorOthers · 1 November 1999EFIL was established in October 1998 by the HKSAR government to advise on the disposal of shares acquired during a market operation. EFIL acted as the original Promoter of TraHK and was involved in the fund's launch in November 1999. The original manager was State Street Global Advisors Asia Limited and the original trustee was State Street Bank and Trust Company.
• Hang Seng Investment Management LimitedcoreOthersEstablished in 1993 and a wholly-owned subsidiary of Hang Seng Bank Limited, Hang Seng Investment Management Limited (HSVM) is the Manager of TraHK. Starting from 19 September 2022, HSVM officially became the new Manager of TraHK. HSVM is a leading home-grown asset manager in Hong Kong with over 30 years of market leading asset management experience, specialising in managing funds related to mainland China and Hong Kong markets.
• Computershare Hong Kong Investor Services LimitedminorOthersComputershare Hong Kong Investor Services Limited serves as TraHK's registrar. Contact: Shops 1712-1716, 17/F Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong. Tel: (852) 2862-8555. Handles dividend payments, unitholder records, and transfer agent services.
• Morningstar Asia LimitedminorOthersMorningstar Asia Limited is the source of statistics cited on TraHK's fund information page. Morningstar provides performance data and analytics referenced in the fund's reporting.
• American International Assurance Company LimitedminorChannel Partner/ Reseller/ DistributorMPF Trustee offering MPF funds that invest in TraHK units. One of nine MPF providers in the TraHK distribution network.
• Bank of Communications Trustee LimitedminorChannel Partner/ Reseller/ DistributorMPF Trustee offering MPF funds that invest in TraHK units. One of nine MPF providers in the TraHK distribution network.
• Bank of East Asia (Trustees) LimitedminorChannel Partner/ Reseller/ DistributorMPF Trustee offering MPF funds that invest in TraHK units. One of nine MPF providers in the TraHK distribution network.
• BCT Financial LimitedminorChannel Partner/ Reseller/ DistributorMPF Sponsor offering MPF funds that invest in TraHK units. One of nine MPF providers in the TraHK distribution network.
• FIL Investment Management (Hong Kong) LimitedminorChannel Partner/ Reseller/ DistributorMPF Sponsor offering MPF funds that invest in TraHK units. One of nine MPF providers in the TraHK distribution network.
• Invesco Hong Kong LimitedminorChannel Partner/ Reseller/ DistributorMPF Sponsor offering MPF funds that invest in TraHK units. One of nine MPF providers in the TraHK distribution network.
• Manulife (International) LimitedminorChannel Partner/ Reseller/ DistributorMPF Trustee offering MPF funds that invest in TraHK units. One of nine MPF providers in the TraHK distribution network.
• Principal Trust Company (Asia) LimitedminorChannel Partner/ Reseller/ DistributorMPF Trustee offering MPF funds that invest in TraHK units. One of nine MPF providers in the TraHK distribution network.
• SunLife Hong Kong LimitedminorChannel Partner/ Reseller/ DistributorMPF Trustee offering MPF funds that invest in TraHK units. One of nine MPF providers in the TraHK distribution network.
• ABN AMRO Clearing Hong Kong LimitedminorChannel Partner/ Reseller/ DistributorParticipating Dealer for TraHK, authorised to create and redeem TraHK units in the primary market. One of 13 participating dealers facilitating ETF primary market transactions.
• Barclays Bank PLCminorChannel Partner/ Reseller/ DistributorParticipating Dealer for TraHK, authorised to create and redeem TraHK units in the primary market. One of 13 participating dealers facilitating ETF primary market transactions.
• BNP ParibasminorChannel Partner/ Reseller/ DistributorParticipating Dealer for TraHK, authorised to create and redeem TraHK units in the primary market. One of 13 participating dealers facilitating ETF primary market transactions.
• BOCI Securities LimitedminorChannel Partner/ Reseller/ DistributorParticipating Dealer for TraHK, authorised to create and redeem TraHK units in the primary market. One of 13 participating dealers facilitating ETF primary market transactions.
• Citigroup Global Markets Asia LimitedminorChannel Partner/ Reseller/ DistributorParticipating Dealer for TraHK, authorised to create and redeem TraHK units in the primary market. One of 13 participating dealers facilitating ETF primary market transactions.
• Credit Suisse Securities (Hong Kong) LimitedminorChannel Partner/ Reseller/ DistributorParticipating Dealer for TraHK, authorised to create and redeem TraHK units in the primary market. One of 13 participating dealers facilitating ETF primary market transactions.
• J.P. Morgan Broking (Hong Kong) LimitedminorChannel Partner/ Reseller/ DistributorParticipating Dealer for TraHK, authorised to create and redeem TraHK units in the primary market. One of 13 participating dealers facilitating ETF primary market transactions.
• Merrill Lynch Far East LimitedminorChannel Partner/ Reseller/ DistributorParticipating Dealer for TraHK, authorised to create and redeem TraHK units in the primary market. One of 13 participating dealers facilitating ETF primary market transactions.
• Mirae Asset Securities (HK) LimitedminorChannel Partner/ Reseller/ DistributorParticipating Dealer for TraHK, authorised to create and redeem TraHK units in the primary market. One of 13 participating dealers facilitating ETF primary market transactions.
• Nomura International (Hong Kong) LimitedminorChannel Partner/ Reseller/ DistributorParticipating Dealer for TraHK, authorised to create and redeem TraHK units in the primary market. One of 13 participating dealers facilitating ETF primary market transactions.
• Phillip Securities (Hong Kong) LimitedminorChannel Partner/ Reseller/ DistributorParticipating Dealer for TraHK, authorised to create and redeem TraHK units in the primary market. One of 13 participating dealers facilitating ETF primary market transactions.
• SG Securities (HK) LimitedminorChannel Partner/ Reseller/ DistributorParticipating Dealer for TraHK, authorised to create and redeem TraHK units in the primary market. One of 13 participating dealers facilitating ETF primary market transactions.
• The Hongkong and Shanghai Banking Corporation LimitedminorChannel Partner/ Reseller/ DistributorParticipating Dealer for TraHK, authorised to create and redeem TraHK units in the primary market. One of 13 participating dealers facilitating ETF primary market transactions. HSBC is also the parent of the fund's trustee HSBC Institutional Trust Services (Asia) Limited.
• UBS Securities Hong Kong LimitedminorChannel Partner/ Reseller/ DistributorParticipating Dealer for TraHK, authorised to create and redeem TraHK units in the primary market. One of 13 participating dealers facilitating ETF primary market transactions.

Scale indicators7 records

Recent moves4 records

Expansion highlights4 records

Emerging players

• Value Gold ETF (3081): Another ETF managed and distributed by the same manager (Hang Seng Investment Management). While tracking gold rather than equities, it shares TraHK's distribution channels, MPF provider relationships, and operational infrastructure.
• Xtrackers Harvest CSI 300 China A-Shares ETF: Tracks the CSI 300 Index of Mainland A-shares, providing an alternative China/HK-adjacent equity beta vehicle. Competes indirectly with TraHK for investors seeking Greater China equity exposure via passive vehicles.
• E Fund HSI ETF: E Fund's Hong Kong-listed HSI-tracking ETF providing direct competition to TraHK. As a Mainland-affiliated asset manager expanding in Hong Kong, it represents an emerging challenger with distribution strength on the mainland side.

Broad incumbents

• Vanguard Total Stock Market ETF (VTI): Industry-leading low-cost broad-market index ETF by Vanguard. Relevant benchmark for TraHK on cost-efficiency, scale economics, and passive-investing accumulation mechanics that TraHK seeks to replicate in the Hong Kong equity context.
• SPDR S&P 500 ETF Trust (SPY): World's largest and original physical-replication ETF by State Street. Comparable to TraHK as a structural peer: physical ETF, primary/secondary market mechanics, authorised participants, and unit trust/grantor structure established a template that TraHK follows.
• Invesco QQQ Trust (QQQ): Large-cap, heavyweight US tech index ETF with one of the deepest institutional and retail followings globally. Relevant peer for understanding TraHK's structural role as a single-index core allocation vehicle for institutional investors.

Direct peers

• ChinaAMC Hang Seng Index ETF: China Asset Management's HSI-tracking ETF listed on the Stock Exchange of Hong Kong. Directly competes with TraHK for Hong Kong equity beta exposure among retail, institutional, and MPF investors with comparable physical structure.
• Hang Seng China Enterprises Index ETF (2828): Sister product from the same issuer group (Hang Seng Investment Management). Tracks the HSCEI rather than HSI, providing Mainland-heavy Hong Kong/China equity exposure through an analogous unit-trust ETF structure with overlapping management, distribution and governance model.
• iShares Core Hang Seng TECH ETF: BlackRock's Hang Seng TECH-tracking ETF listed in Hong Kong. Competes with TraHK for Hong Kong equity exposure demand, particularly among younger retail and tech-tilted investors, drawing flows away from a pure HSI allocation.
• iShares Hang Seng Index ETF (2833): BlackRock's flagship HSI-tracking ETF listed in Hong Kong, the most direct head-to-head competitor to TraHK. Tracks the same Hang Seng Index with a similar physical-replication structure and competes on fees, AUM, and MPF/retail distribution.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/hangsenginvestment

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tracker Fund of Hong Kong