Jan 26, 2017 Culture Comments Off on Yuanta to issue ETFs tracking Japanese yen
Taipei--Yuanta Securities Investment Trust Co. (????), a subsidiary of Yuanta Financial Holding Co. (???), is set to issue two exchange traded funds (ETFs) which will track the Japanese yen, according to the Taiwan Stock Exchange (TWSE).
The TWSE, which operates the local main board, said that a meeting of the exchange has given the greenlight to the applications submitted by Yuanta to launch ETFs that will independently track the S&P Japanese Yen Futures 2x Leverage Daily ER Index and the S&P Japanese Yen Futures 1x Inverse Daily ER Index.
When Yuanta issues the two ETFs, they will be the first on the local main board to either generate double returns when the yen moves higher or rake in profits when the Japanese currency moves lower.
The two indexes originate from the S&P Japanese Yen Futures Index, which consists of one single-month Japanese Yen Futures which is listed on the Chicago Mercantile Exchange Group (CME Group).
The TWSE said the ETFs planned by Yuanta to track the yen will provide local investors with more options and an opportunity to broaden their investment portfolios.
In addition to the two yen futures indexes, the TWSE has also approved Yuanta's application to launch an ETF tracking the S&P GSCI Gold 2x Leveraged ER Index, which itself tracks the daily performance of the S&P GSCI Gold ER Index in a bid to generate double returns.
The S&P GSCI Gold ER Index is traded on the New York Mercantile Exchange (NYMEX).
On Jan. 17, Yuanta listed three ETFs tracking U.S. bonds; the Yuanta Daily U.S. Treasury 20+ Year Bond ETF, the Yuanta Daily U.S. Treasury 20+ Year Bond Bull 2X ETF and the Yuanta Daily U.S. Treasury 20+ Year Bond Bear 1X ETF.
Following the listing of the three U.S. bond ETFs, a total of 67 ETFs are currently traded on the local main board, the TWSE said.
The TWSE said the exchange has stepped up its efforts to introduce more ETFs to local investors, not only in equities but also other financial tools such as bonds, currencies and commodities like gold and oil. The exchange has also introduced ETFs tracking financial products issued both at home and abroad.
The exchange said that ETFs issued on the main board have been well received by investors, recognizing the move as an effort to push for more ETF listings and boost turnover of the local equity market.
Source: Focus Taiwan News Channel
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