Hana Financial Investment, New Listing of 'Hana KRX300 ETN'
ETN Investing in 300 Leading Korean Companies
[Asia Economy Reporter Eunmo Koo] Hana Financial Investment announced on the 16th that it has newly listed the 'Hana KRX300 ETN,' which invests in 300 representative blue-chip companies listed on the KOSPI and KOSDAQ markets, on the KOSPI market.
The 'Hana KRX300 ETN' is an exchange-traded note (ETN) based on a representative index launched by Hana Financial Investment after more than two years. The issuer, Hana Financial Investment, directly provides liquidity (LP) and pays returns linked to the underlying KRX300 index. Since it is based on domestic stocks, trading on the exchange does not incur securities transaction tax, resulting in reduced transaction costs.
The KRX300 index is composed of 300 stocks representing the KOSPI and KOSDAQ markets, comprehensively considering market representativeness, liquidity, and product suitability. It was developed as a single indicator to comprehensively understand the domestic stock market and to promote the activation of the KOSDAQ market. Regular changes are made twice a year.
Cha Ki-hyun, Head of Equities at Hana Financial Investment, said, "Hana Financial Investment has introduced an ETN using the market representative index KRX300 for the first time to promote healthy growth of the asset management market. We will continue to focus on building a diverse lineup of underlying index products to provide various investment opportunities."
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This product is not protected by the Deposit Insurance Corporation under the Depositor Protection Act. Principal loss may occur due to the credit risk of the issuer, Hana Financial Investment (credit rating AA, May 2020 NICE Credit Rating, June 2020 Korea Ratings), so investors should receive sufficient explanation about the product before investing. The total fee is charged at an annual rate of 0.50% (management 0.02%, index usage 0.10%, general administration 0.03%, others 0.35%).
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