Leveraged ETF specialist Direxion will be listing a new 3x leveraged ETF, which takes a bullish outlook on emerging market bonds. EMBU, which will list in New York, will give 300% of the daily performance of the JP Morgan Custom Emerging Markets Bond Index.
Mirae Asset Daewoo, the largest Korean investment bank, is listing two new ETFs in Korea that track American loans. Both 520021 and 520020 track the S&P/LSTA U.S. Leveraged Loan 100 Index, which is designed to reflect the performance of the largest facilities in the leveraged loan market. There is very little English language material available on the new products at the moment.
iShares will be listing a new ETF into Milan, targeting small and medium cap Italian comipanies. IPIR, like other PIR funds, is intended to be compliant with the new personal savings plan (PIR) introduced in Italy this year. The PIR tax discount was introduced by the Italian government to incentivise Italians to invest in small Italian companies.