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Investment involves risks. Please refer to the Prospectus for details including as to the risk factors.
Mirae Asset Horizons Topix Daily (2X) Leveraged Product ("Product")
Long term holding risk
Risk of rebalancing activities
Intraday investment risk
Portfolio turnover risk
Futures contracts risks
Japanese market risk
Difference in price limit risk
Passive investments risks
Trading differences risk
Tracking error and correlation risks
Reliance on market maker risks
All dollar amounts are in HKD and all dates are in GMT+8 Time, unless otherwise specified.
The Product seeks to provide investment results that, before deduction of fees and expenses, closely correspond to twice (2x) the Daily performance of the Tokyo Stock Price Index (TOPIX) (the “Index”). The Product does not seek to achieve its stated objective over a period of time greater than one day.
“Daily” in relation to the leveraged performance of the Index or performance of the Product, means the leveraged performance of the Index or performance of the Product (as the case may be) from the close of the relevant market of a given Business Day until the close of the relevant market on the subsequent Business Day.
In seeking to achieve the Product’s investment objective, the Manager will adopt a futures-based replication investment strategy through investing directly in the nearest month TOPIX Futures, subject to the rolling strategy discussed below, to obtain the required exposure to the Index.
In entering the TOPIX Futures each calendar month, the Manager anticipates that not more than 20% of the Net Asset Value of the Product from time to time will be used as margin to acquire the TOPIX Futures.
Not less than 70% of the Net Asset Value of the Product will be invested in cash (HKD and JPY) and cash equivalents (e.g. short term deposits). In addition, the Product will invest up to 10% of its Net Asset Value in exchange traded funds listed in Japan, the investment objective of which are to track the performance of the Index, and which are not managed by any member of the Mirae Asset Group (“TOPIX ETFs”).
The investment strategy of the Product is subject to the investment and borrowing restrictions set out in Part 1 of the Prospectus.