CSOP ANNOUNCES LISTING OF O&G LEVERAGED AND INVERSE PRODUCTS ON HKEX

KUALA LUMPUR, Nov 23 (Bernama) -- CSOP Asset Management Ltd (CSOP) has announced the listing of its CSOP US Large Oil & Gas Companies Daily (2x) Leveraged Product and CSOP US Large Oil & Gas Companies Daily (-2X) Inverse Product on the Hong Kong Stock Exchange (HKEX).

It said the two products aimed to help investors capture short-term investment opportunities brought by the high volatility of oil and gas (O&G) companies.

"The two products provide investment results closely corresponding to leveraged (2x) daily performance and inverse (-2x) daily performance of Solactive US Large Oil & Gas Companies Index NTR, respectively," the asset manager said in a statement.

CSOP said the leveraged product and inverse product, with listing prices at around HK$7.75 per unit, trading lot of 100 and management fee of 1.60 per cent, have received US$5 million and US$5 million initial investment, respectively. (RM1=HK$1.71, US$1=RM4.57)

"Since the first leveraged & inversed (L&I) product listed in 2016, Hong Kong’s L&I market has seen a continuous growth to HK$14.39 billion in size and HK$2.54 billion of average daily turnover as of the end of October 2022," it said.

CSOP chief executive officer Ding Chen said the two O&G leveraged and inverse products are excellent trading tools that could help investors take advantage of the US O&G sector amid the volatile market.

CSOP was founded in 2008 as the first offshore asset manager set up by a regulated asset management company in China.

-- BERNAMA