UBS SDIC introduces leveraged index fund to China
The funds JV is looking to tap into Chinese appetite for more exotic products; meanwhile, it also finds a new CIO.
UBS SDIC, the Swiss bank's 49:51 joint venture with the State Development and Investment Corp in China, plans to list its index-tracking CSI300 fund on the Shenzhen Stock Exchange. The fund is 95% benchmarked to the CSI300 index, which tracks prices of the 300 most active stocks listed on the Shanghai and Shenzhen bourses. The remaining 5% follows the local interbank interest rate benchmark.
Daily tracking error will be limited to under 0.35%, or 4% on an annualised basis. A level of…
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