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Simmons & Simmons advises Samsung on Hong Kong’s first ever inverse and leveraged ETPs

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International law firm Simmons & Simmons has advised Samsung Asset Management (Hong Kong) Limited on the listing of Hong Kong’s first ever inverse and leveraged products.

The suite of products comprises two leveraged products, and two inverse products. The Samsung KOSPI 200 Daily (2x) Leveraged Product and Samsung TOPIX Daily (2x) Leveraged Product have the investment objective of providing investment results that closely correspond to twice the daily performance of the KOSPI 200 Index and Tokyo Stock Price Index (TOPIX) respectively. The Samsung KOSPI 200 Daily (-1x) Inverse Product and Samsung TOPIX Daily (-1x) Inverse Product have the investment objective of providing investment results that closely correspond to the inverse daily performance of the KOSPI 200 Index and TOPIX respectively.
 
Unlike traditional exchange traded funds, these products are designed to be used for short term trading or hedging purposes. They are not intended for holding longer than one day, or for long term investment.
 
The four products are the first of their kind to be approved for listing in Hong Kong, and represent a significant increase in options available to investors. Samsung’s success in having these products approved and listed demonstrates its leading role as a pioneer in the development of new investment products.
 
Partner Rolfe Hayden says: ‘‘The listing of this suite of products, the first of their kind in Hong Kong, is a milestone in the development of the city’s exchange traded funds market, and a significant achievement for Samsung. Following our work on previous ‘firsts’ for Samsung, this latest work further elevates our reputation as a leader in investment funds, and highlights our unmatched ability to help our clients achieve regulatory approval in Hong Kong for innovative products.”

The Simmons & Simmons team was jointly led by financial market partners Rolfe Hayden and Eva Chan, and assisted by Stella Wai.

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