SGAM AI launches leveraged reverse ETF in Italy

Société Générale Asset Management Alternative Investments (SGAM AI) has released an exchange-traded fund (ETF) with up to 200% leveraged, reverse exposure to the Dow Jones Euro Stoxx 50 index, enhanced by a monetary return. The SGAM ETF XBear Dow Jones Euro Stoxx 50 is listed on the ETF strutturati sector of the Borsa Italiana.

The reverse exposure to the index can be modified each quarter, with reference to market fundamentals and volatility, and is established by a management committee comprising fund managers and analysts from SGAM AI. The reverse exposure to the index is fixed at 200% on the release of the ETF. The performance of the ETF will also be enhanced by a money market return, which can grow to three times Eonia.

The ETF, which is Ucits compliant, is designed as an alternative to futures to access a bear