CSOP Bitcoin Futures Daily (-1x) Inverse Product (the “Product”) is a sub-fund of CSOP Leveraged and Inverse Series, an umbrella unit trust established under Hong Kong law. Units of the Product (the “Units”) are traded in HKD on The Stock Exchange of Hong Kong Limited like stocks.
This product primarily invests in short positions of CME Bitcoin Futures whose price movement may deviate significantly from the spot price of bitcoin.
This product does not seek to deliver a daily return of the inverse performance of spot bitcoin.
This product is not intended for holding longer than one day as the performance of this product over a longer period may deviate from and be uncorrelated to the inverse performance of the Index over the period.
This is an inverse product. It is different from conventional exchange traded funds as it seeks inverse investment results relative to the Index and only on a daily basis.
Investments linked to bitcoin can be highly volatile compared to investments in traditional securities.
Please note that the above listed investment risks are not exhaustive, and investors should read the Prospectus and the Product Key Facts for further details (including product features and the full list risk factors) before making any investment decision.
CSOP Bitcoin Futures Daily (-1x) Inverse Product
Short Name: FI CSOP BTC
Stock Code: 7376.HK
(annual average daily ongoing charges)4
1 Source: CSOP, the data is estimated data for reference.
2 Please note that the management fee may be increased up to a permitted maximum amount by providing one month’s prior notice to Unitholders. Please refer to the section headed “Fees and Expenses” in the Prospectus for further details of the fees and charges payable and the permitted maximum of such fee allowed, as well as other ongoing expenses that may be borne by the Product.
3 This is indicative only because the Product is newly established. The annual average daily ongoing charges figure is equal to the ongoing charges figure over the first year of listing divided by the anticipated number of dealing days during that year. The actual figure may be different from the estimate figure and may vary from year to year.
4 The ongoing charges figure is indicative only as the Product is newly set up. It represents the sum of the estimated ongoing expenses chargeable to the Product expressed as a percentage of the Product's NAV. The actual figure may be different from this estimated figure.
5 Anticipated number of dealing days during that year. The actual figure may be different from the estimate figure and may vary from year to year. This is an estimated annual average daily tracking difference. Investors should refer to the Product’s website for information on the actual daily tracking difference and actual average daily tracking difference.
Investment Strategy
A futures-based synthetic replication strategy
The spot month CME Bitcoin Futures
(and/or the Micro Bitcoin Futures)
(No more than 60%6 NAV)
Cash (HKD or USD) and other HKD or USD denominated investment products
(No less than 40%7 NAV)
6 Under exceptional circumstances (e.g. increased margin requirement by the exchange in extreme market turbulence), the margin requirement may increase substantially.
7 This percentage may be reduced proportionately under exceptional circumstances where there is a higher margin requirement, as described above.
For details of the investment strategy, please refer to the prospectus and product fact sheet.
Why Invest in CSOP Bitcoin Futures Daily (-1x) Inverse Product?
Bitcoin is always “Outstanding”
Over the past decade, Bitcoin has consistently stood out as either the best or worst performer among major assets.
Bitcoin prices continue roller-coaster volatility over the past decade.
Historical Asset Class Returns from 2012 to 2023
5,428.42%
52.87%
36.16%
120.31%
1,375.10%
4.40%
94.83%
305.07%
59.79%
8.21%
157.00%
29.60%
12.79%
9.41%
45.03%
35.99%
0.08%
34.46%
25.12%
55.01%
6.71%
24.23%
7.19%
11.39%
9.26%
9.54%
19.42%
-1.56%
28.88%
16.26%
26.89%
-0.28%
13.10%
2.87%
5.13%
0.59%
8.14%
13.53%
-6.24%
22.30%
13.87%
6.37%
-12.03%
5.77%
0.33%
1.28%
-0.73%
3.63%
12.47%
-13.61%
18.31%
7.36%
4.80%
-15.13%
-2.11%
-1.69%
-1.44%
-7.16%
2.33%
6.56%
-24.59%
9.07%
-3.40%
-1.40%
-15.46%
-3.70%
-6.75%
-45.87%
-10.41%
0.39%
3.30%
-24.84%
8.18%
-6.69%
-3.64%
-19.44%
-10.73%
-28.28%
-57.51%
-30.47%
-12.31%
-9.87%
-73.84%
0.22%
-20.54%
-14.08%
-64.30%
-13.82%
Source: Bloomberg, 2013/1/1-2023/12/31.
BTC: XBTUSD BGN currency; US stock: S&P 500 INDEX; US Bond: S&P U.S. Aggregate Bond Index; Gold: XAU currency; Ashare: Shanghai Composite Index; USD: DXY Index; HK stock: Hang Seng Index; Crude Oil: CL1 Commodity.
Extreme Volatility Driven by Emotions and Events
Bitcoin does not have any intrinsic value. Its price mainly relies on investor confidence and market demand & supply which are sensitive to market news and rumors.
Source:IFEC. Bloomberg, 1/1/2019 to 7/11/2024.
Trading Strategies
Trading opportunites in big events
Source: Bloomberg, CSOP.
The above figures are for illustrative purposes only and are not indicative of actual future benefits.
Source: Bloomberg, CSOP.
The above figures are for illustrative purposes only and are not indicative of actual future benefits.
Compounding Effect: (-1X) Inverse Product
Inverse product tracks the inverse of daily return of the index. The effect will deviate when holding period is longer than one day.
Product
(-1X) Inverse product falls less than -1X
of index return.
(-34.39% < 46.41% x (-1) = -46.41%)
-> Outperformance
Product
(-1X) Inverse product increases more than -1X of index return.
(46.41% > -34.39% x (-1) = 34.39%)
-> Outperformance
Product
(-1X) Inverse product delivers less than -1X of index return.
(2.47% < -7.43% x (-1) = 7.43%)
-> Underperformance
Source: Bloomberg, CSOP Research.
Privacy Statement
This is the website of CSOP Asset Management Limited. ("CSOP"). We understand that our customers and website visitors are concerned about the privacy of information. We have established policies and procedures concerning the collection, use and security of your information that will help protect your privacy. This policy statement provides information on the obligations and policies of CSOP under the Personal Data Protection Act (the "Act").
Our Corporate Policy
CSOP recognize the importance of personal data to our business and the importance of respecting the privacy rights of our clients. Therefore, we are committed to ensuring compliance with the requirements of the Act. Each employee of CSOP must abide by our commitment to privacy in the handling of personal information. To further enhance confidentiality and security of all personal data, only authorized staff will be allowed to have access to the personal information collected. It is restricted to those persons who have a business need to access personal information in order to perform their job duties.
The purpose of this Statement is to establish the policies and practices of CSOP's commitment to protect the privacy of personal data and to inform you about our responsibilities and your rights under the Act.
Types of Personal Data Held
There are two broad categories of personal data held by us. They are personal data relating to clients and employees of CSOP.
Personal data held by us regarding clients may include the following:
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Transfer of Personal Data
Personal data held by CSOP relating to clients will be kept confidential but may be transferred to the following parties (whether within or outside Singapore) for any of the purposes stated above:
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Your Rights
It is not a statutory requirement for you to provide personal data to us. However, we will not be able to provide you with the services and products you may require unless you provide us with the necessary personal data or information.
You have a right (i) to be informed whether we hold any of your personal data; (ii) to be supplied with a copy of your personal data we hold; (iii) to request correction of your personal data we hold; and (iv) to object to the use of your personal data for marketing purposes.
If you wish to access to and/or to correct any of your personal data held by us, please send your written request to the address set out below. We may, subject to the Act, impose a reasonable fee for complying with a data access request.
If you do not wish your personal data to be used for direct marketing purposes, you may notify us in writing to the following address.
If you have any questions or would like further information on our privacy and information handling practices or would like to exercise any of these rights, please address them to:
Data Protection Officer
CSOP Asset Management Limited.,
#18-03 Millenia Tower,
One Temasek Avenue,
Singapore 039192
Upon receipt of such notice, we shall, without charge to you, cease using your personal data for direct marketing purposes.
Disclaimer
CSOP Asset Management Limited. ("CSOP") is a regulated financial institution in Singapore by the Monetary Authority of Singapore (“MAS”). This website contains information about CSOP and the services and products offered by CSOP. The information provided on the CSOP website is not intended for distribution to, or use by, any person or entity in any jurisdiction or country that would subject CSOP or its affiliates to any registration requirement within such jurisdiction or country. Non-Singapore investors are responsible for observing all applicable laws and regulations of their relevant jurisdictions before proceeding to access the information contained herein. By proceeding, you are representing that you have understood and accepted the restrictions set out in this section.
The website is prepared by CSOP and has not been reviewed by the MAS. You are advised to exercise caution and if you are in any doubt about any of the contents of the website, you should obtain independent financial and professional advice. Private Investors are advised to consult with their financial advisors, banks, or other professional advisors. Nothing herein should be construed as investment advice nor as comment on the suitability of any investment or investment service. Prospective investors should take advice from their own professional advisors before making any investment decision.
The information contained in this website is provided for reference only and does not constitute any investment advice, offer or solicitation to deal in any investments mentioned herein. The information on the website is being provided strictly for informational purposes only and does not constitute an advertisement and/or investment advice. The information and/or data herein has been obtained from sources that CSOP believes to be reliable and accurate at the time of issue but no representation or warranty, expressed or implied, is made as to the fairness, accuracy, completeness or correctness of the information. Neither CSOP, nor any of its associates, nor any director, officer or employee accepts any liability whatsoever for any loss arising directly or indirectly from any use of this document.
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