Friday, 25 July 2014
Last updated 1 hour ago
Jun 26 2013 | 8:27am ET
Alternative investment specialist Direxion has launched 'bull' and 'bear' leveraged exchange-traded funds tracking the Japanese equity market.
The firm's Daily Japan Bull 3X Shares seeks to generate 300% of the performance of the MSCI Daily TR Net Japan USD Index daily while the Daily Japan Bear 3X Shares attempts to achieve 300% of the inverse of that index's performance daily. (Both figures are before fees and expenses.)
The index is tied to the MSCI Japan Index, a free-float adjusted index designed to track the performance of Japanese company stocks listed on the Tokyo Stock Exchange, Osaka Stock Exchange, Nagoya Stock Exchange and JASDAQ.
Direxion said the Japanese economy experienced a surge in investor interest following the election of Prime Minister Shinzo Abe in December 2012, but some investors have resumed their cautious outlook on Japan.
“We conduct market analysis on a constant basis to identify new opportunities in various regions and sectors for investors who have confidence about the direction of those markets. We see great demand for liquid exposure to Japan,” said Eric Falkeis, president of Direxion. “With these new 3X bull and bear funds, Direxion is excited to be able to allow investors to express an opinion on the economic dynamics taking place that are affecting the Japanese equity market.”
The ETFs do not attempt to meet their investment goals over periods longer than one day, and there is no guarantee that their objectives will be met.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…