Direxion Launches Bull And Bear Japan ETFs

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.


In Depth

Q&A: Rotation Capital's Rothfleisch On SPAC 2.0

Aug 11 2017 | 7:43pm ET

Corporate actions have long been a staple of event-driven investors, but activity...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Star Mountain: Private Lending in the Lower Middle-Market

Aug 14 2017 | 4:45pm ET

Private credit has become one of the most popular alternative asset classes in recent...

 

From the current issue of