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STOXX Limited, a leading provider of innovative, tradable and global index concepts, today announced that the EURO STOXX 50 Daily Leverage Index has been licensed to Mirae Asset Global Investments, a leading Korean asset management firm, to underlie an exchange-traded fund (ETF). This is the third exchange-traded product (ETP) based on a STOXX index to be listed on the Korea Exchange (KRX).
“The EURO STOXX 50 Daily Leverage Index reflects twice the daily performance of the EURO STOXX 50, which is the leading blue-chip index for the Eurozone. This means that by licensing this index for an ETF, Mirae provides its customers with a tool to boost returns during bullish markets in the region,” said Hartmut Graf, chief executive officer, STOXX Limited. Graf added, “As this marks STOXX’s third ETP license agreement in Korea, we are also pleased to continue strengthening our presence in the Korean markets and look forward to further cooperations in the future.”
“We are pleased to license the EURO STOXX 50 Daily Leverage Index. We continue to provide a variety of investment vehicles to investors, so that we can meet the various demands for the local market. In that sense, this partnership helps pave the way to achieve our vision,” said Yoo Seok Seo, Chief Officer of ETF Business Unit, Mirae Asset Global Investments.
The EURO STOXX 50 Daily Leverage Index replicates a leveraged investment strategy linked to the daily performance of the EURO STOXX 50 Index by using a leverage factor of two. This means that if the EURO STOXX 50 is up/ down 5% on a day, the EURO STOXX 50 Daily Leverage Index rises/ falls by 10%. The cost of borrowing is also taken into account in the index’s calculation. The EURO STOXX 50 Daily Leverage Index is available with leverage factors ranging from two to eight. Daily historical data is available back to December 31, 1991.
Launched in February 1998, the EURO STOXX 50 represents 50 supersector leaders in the 12 Eurozone countries of Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxemburg, the Netherlands, Portugal and Spain. The index ensures a well-balanced sector representation that simultaneously represents the overall market development in the region.
The EURO STOXX 50 Daily Leverage Index belongs to a growing family of global strategy indices offered by STOXX. The STOXX Strategy Indices give investors access to innovative, sophisticated investment strategies and asset classes such as volatility, minimum variance, true exposure and leverage and short concepts.
Please visit www.stoxx.com for further information.
