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| Tuesday, 19 July 2016, 19:06 HKT/SGT | |
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HONG KONG, July 19, 2016 - (ACN Newswire) - CSOP Nifty 50 Daily (2x) Leveraged Product (Stock code: 07202) and CSOP Nifty 50 Daily (-1x) Inverse Product (Stock code: 07335) will list on the Hong Kong Stock Exchange tomorrow, enabling Hong Kong and overseas investors to access the fastest growing economy of India in leveraged and inverse manner. As the first leveraged and inverse products issued by a Chinese manager in Hong Kong, the CSOP Nifty 50 Leveraged and Inverse Products provide investment results closely corresponding to twice (2x) or inverse of (-1x) the daily performance of the Nifty 50 Index on the NSE. The Index is compiled and managed by India Index Services and Products Ltd ("IISL" or the "Index Provider").
Seeking to deliver the leveraged & inverse performance of the 50 most representative securities on the NSE
India is the world's fastest-growing economy with more than 7% year to year GDP growth supported by its huge domestic market and labour resources . Moreover, India is considered to be the next world economy drive and world factory with FDI increasing to USD 16.6 bn in the first half of 2015 . Besides its third largest size and trading volume in Asia, the India stock market is also recognized by its superior performance and lower volatility comparing with other emerging markets with the Nifty 50 Index beating MSCI Emerging Market Index by 73.98% in the past 5 years . Thus, India is considered as an important market for asset diversification. The underlying index of CSOP Nifty 50 Daily (2X) Leveraged Product and CSOP Nifty 50 Daily (-1x) Inverse Product is the Nifty 50 Index on the NSE, which is the benchmark index of India. It is a well diversified 50 stocks index representing 13 sectors of the economy covering 65% free float market capitalization of the stocks listed on NSE as of 30 June 2016.
Mr. Mukesh Agarwal, CEO of IISL, said, "The listing of Nifty 50 based leverage and inverse products in Hong Kong will ensure that investors in Hong Kong and China can participate in the India growth story. Nifty 50 is the most widely used ETF benchmark in Indian domestic market with 13 ETFs tracking the index. In terms of contracts traded, Nifty 50 options traded on the NSE is ranked 1st globally and Nifty 50 futures is ranked 7th globally."
First L&I product brought by A Chinese Asset Manager in Hong Kong
As a leading global Chinese asset manager, CSOP introduces its debut L&I products to Hong Kong investors marking another "first time" of Chinese asset managers in Hong Kong market. Ms. Ding Chen, CEO of CSOP said: "L&I product is a very new investment category in Hong Kong and it invests in futures to achieve its performance. The successful launch of CSOP Oil ETF (Hong Kong stock code: 3135) gives us every confidence on launching the CSOP Nifty 50 Index L&I products. From CSOP A50 ETF to CSOP Nifty 50 L&I products, from China to India, CSOP is always devoted to presenting opportunities of growth to global investors. As the first Chinese asset manager introducing the L&I products to Hong Kong and overseas investors, CSOP is also telling a story of growth of Chinese asset managers."
Topic: Press release summary
Sectors: Daily Finance, Daily News
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From the Asia Corporate News Network
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