Thu, 06/12/2012 - 12:19
Boost ETP has listed its first exchange-traded products on the London Stock Exchange.
The two ETPs are designed to return 3x the daily movement, long or short, of the FTSE 100 benchmark index.
3UKL will provide long exposure equal to 3x the daily change of the FTSE 100 Super Leveraged RT TR Index (less fees and adjustments).
3UKS will provide short exposure equal to 3x the daily change of the FTSE 100 Daily Ultra Short Strategy RT Gross TR Index (less fees and adjustments).
For example, if the FTSE 100 rises by one per cent on a particular day, then 3UKL will rise by three per cent and 3UKS will fall by three per cent. However, if the FTSE 100 falls by one per cent then 3UKL will fall by three per cent and 3UKS will rise by three per cent.
Demand for transparent short and leverage products has increased over the past few years with global short and leveraged ETP assets rising to USD43bn, as many financial markets have trended sideways, resulting in volatile but poor long term returns Leveraged and short ETPs make it possible to take advantage of this short term volatility in world financial markets.
Co-chief executive Hector McNeil says: “Today is a landmark day for Boost as we list our first ETPs on the London Stock Exchange. We believe that Boost FTSE 100 3x Leverage Daily ETP and Boost FTSE 100 3x Short Daily ETP are exciting additions to the UK ETP market and introduce an investment product which investors currently demand, but are not yet available. 3UKL and 3UKS will provide 3x long and 3x short exposure to the daily change in the FTSE 100 index.
“We have been experiencing low returns and sideways trending equity markets for several years now. The average daily change in the FTSE 100 index was 1 per cent per day versus 2 per cent p.a. over the past five years for a buy and hold investment. As a result, Boost’s 3x leveraged and 3x short ETPs provide sophisticated investors valuable new tools to potentially enhance their investment returns or hedge market risks.”
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