17 October 2022, 6:00 pm
17 October 2022, 6:00 pm
17 October 2022, 6:00 pm
Average Daily Tracking Difference
Year to Date for 2023
(as of 31 July 2023)
For Leveraged Product, Daily NAV is measured against 2x SIMSCI index (valued at 5.30pm SGT every day)
INVESTMENT OBJECTIVE AND APPROACH
To provide investment results that, before fees and expenses, closely correspond to twice (2x) the daily performance of the MSCI Singapore Index. A combination of futures-based synthetic replication strategy and direct investments into the underlying Securities of the Index is employed to achieve the leverage factor of 2x. Rebalancing is done everyday to achieve a daily constant leverage exposure.
This Exchange-Traded Product is classified as an SIP (Specified Investment Product) and Prescribed Capital Markets Products.
COMPARISON WITH DIRECT SIMSCI FUTURES:
|Leveraged Product||SIMSCI Futures|
|CIS Code compliant fund?||Yes||No|
|Link to underlying price||Tracks price of underlying index||Same as Leveraged Product|
|Leverage factor||2x||Very high (>10x)|
|Losses limited to initial investment?||Yes||No|
|Maturity date||No maturity date||Monthly contract|
|Minimum required exposure?||~ $200||~ $3k (1 SIMSCI contract, assume 10% margin)|
|Traded on public exchange?||Yes||Yes|
|Position Management||No||Futures rollover; margin top-up where needed|
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