Direxion has launched two leveraged exchange-traded funds that track Japanese equity market performance.
The Direxion Daily Japan Bull 3X Shares (JPNL) seeks to generate daily investment results, before fees and expenses, of 300 per cent of the performance of the MSCI Daily TR Net Japan USD Index.
The Direxion Daily Japan Bear 3X Shares (JPNS) attempts to achieve daily investment results, before fees and expenses, of 300 per cent of the inverse of the MSCI Daily TR Net Japan USD Index’s performance.
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.
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” says Eric Falkeis (pictured), 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.