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CSOP Hang Seng Index Daily (2X) Leveraged Product Summary

Core Information

• Product Name: CSOP Hang Seng Index Daily (2X) Leveraged Product
• Stock Code: 07200
• Sub-Fund of: CSOP Leveraged and Inverse Series
• Established: 10 March 2017
• Trading Start: 14 March 2017 on the Stock Exchange of Hong Kong Limited (SEHK)
• Benchmark Index: Hang Seng Index (Index)
• Strategy: Futures-based replication strategy
• Objective: To provide daily investment results, before fees and expenses, that closely correspond to twice (2X) the daily performance of the Hang Seng Index

Key Features

• Leveraged Structure: The product aims to deliver 2X the daily return of the Hang Seng Index.
• Futures-Based Replication: The Sub-Fund invests directly in the nearest month Hang Seng Index Futures contracts on a monthly rolling basis.
• No Predetermined Roll Schedule: The roll-over is performed on a monthly basis shortly before expiration.
• Index Provider: Hang Seng Indexes Company Limited, which compiles and manages the Hang Seng Index.
• Index Characteristics: Free float-adjusted market capitalization weighted, tracking blue chip Hong Kong securities.

Performance Overview

• Dealing NAV as of 30 June 2021: HKD 10.3798
• Units Outstanding: 57,600,000
• Total Assets Under Management: Approximately HKD 597.9 million
• Performance for Period Ended 30 June 2021:
  • Sub-Fund Return: 11.93%
  • Hang Seng Index Return: 5.86%
• YTD Price Return (as of 30 June 2021): +12.20%

Financial Position (Condensed)

As at 30 June 2021 (Unaudited)

• Total Assets: HKD 601,833,933
• Total Liabilities: HKD 4,141,019
• Net Assets Attributable to Unitholders: HKD 597,692,914
• Net Asset Value per Unit: HKD 10.3766

As at 31 December 2020 (Audited)

• Total Assets: HKD 861,488,861
• Total Liabilities: HKD 1,239,907
• Net Assets Attributable to Unitholders: HKD 860,248,954
• Net Asset Value per Unit: HKD 9.2699

Comprehensive Income (Condensed)

For the Period Ended 30 June 2021 (Unaudited)

• Total Net Income: HKD 129,264,766
• Total Operating Expenses: HKD 4,352,014

For the Period Ended 30 June 2020 (Unaudited)

• Total Net Loss: HKD 124,691,465
• Total Operating Expenses: HKD 7,837,842

Investment Portfolio (Unaudited)

As at 30 June 2021

• Investments and Derivative Financial Instruments: 34.89% of total net assets
  • Listed Investment Fund (Unlisted Share Class A): HKD 127,194,000 (21.28%)
  • Quoted Debt Securities: HKD 84,500,287 (14.14%)
    • Hong Kong Treasury Bills (ZCP)
• Listed Futures Contracts: -0.53% of total net assets
  • Hang Seng Index Future (29 July 2021): Fair Value = HKD -3,159,383

As at 31 December 2020

• Investments and Derivative Financial Instruments: 35.42% of total net assets
  • Listed Investment Fund: HKD 181,947,726 (21.15%)
  • Quoted Debt Securities: HKD 127,194,000 (14.14%)

Cash Flows (Condensed)

For the Period Ended 30 June 2021 (Unaudited)

• Net Cash Generated from Operating Activities: HKD 460,982,747
• Net Cash Used in Financing Activities: HKD 391,820,806
• Net Increase in Cash and Cash Equivalents: HKD 69,161,941
• Cash and Cash Equivalents at End of Period: HKD 286,012,637

Portfolio Movements (Unaudited)

• Units Outstanding at Beginning of Period: 92,800,000
• Units Issued: 75,200,000
• Units Redeemed: 110,400,000
• Units Outstanding at End of Period: 57,600,000

Financial Derivative Instruments (Unaudited)

• Futures Contracts Held:
  • Hang Seng Index Future (29 July 2021):
    • Position: Long
    • Counterparty: BNP Paribas, UBS
    • Fair Value: HKD -3,159,383

Underlying Index Constituent Stock Disclosure (Unaudited)

• Constituent Security: One collective investment scheme authorized by the SFC, which accounted for more than 10% but less than 30% of the Sub-Fund's net asset value.
• No Government Securities: Individually accounted for more than 10% but less than 30% of the net asset value.

Key Parties

• Manager: CSOP Asset Management Limited
  • Address: Suite 2801-2803 & 3303-3304, Two Exchange Square, 8 Connaught Place, Central, Hong Kong
• Trustee and Registrar: HSBC Institutional Trust Services (Asia) Limited
  • Address: 1 Queen's Road Central, Hong Kong
• Custodian: The Hongkong and Shanghai Banking Corporation Limited
  • Address: 1 Queen's Road Central, Hong Kong
• Service Agent: HK Conversion Agency Services Limited
  • Address: 1st Floor, One & Two Exchange Square, 8 Connaught Place, Central, Hong Kong
• Listing Agent: Altus Capital Limited
  • Address: 21 Wing Wo Street, Central, Hong Kong

Directors of the Manager

• Chen Ding
• Gaobo Zhang
• Xiaosong Yang
• Xiuyan Liu
• Yi Zhou
• Zhiwei Liu
• Zhongping Cai

Legal and Audit Information

• Legal Counsel: Simmons & Simmons
  • Address: 30th Floor, One Taikoo Place, 979 King's Road, Hong Kong
• Auditor: PricewaterhouseCoopers, Certified Public Accountants
  • Address: 21st Floor Edinburgh Tower, 15 Queen's Road Central, Hong Kong

Additional Information

• Website: www.csapasset.com
• Telephone: (852) 3406 5688