ChinaAMC partners US firm on landmark L&I ETFs
The overseas arm of China Asset Management is listing its first leveraged and inverse ETFs in Hong Kong, which will track the Nasdaq 100. It has partnered with US fund house Direxion.
China Asset Management (HK) has teamed up with US-based Direxion to launch its first leveraged and inverse (L&I) exchange-traded funds and the first such products in Hong Kong to track the US's tech-heavy Nasdaq 100 index. They will list on the city’s bourse today.
The two funds – the Nasdaq 100 Daily (2x) leveraged and Nasdaq 100 Daily (-1) inverse – received regulatory approval on September 21. The first firms to launch L&I products were Samsung Asset Management in June…
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