Fast Asian kickout

UBS recently offered investors in Hong Kong the opportunity to invest against the iShares FTSE/Xinhua A50 China Tracker Fund. Capital would have been at risk had the three-month product not kicked out after the first month

This is a rare offering from Hong Kong, this product was a three-month kickout linked to the iShares FTSE/Xinhua A50 China Tracker fund. The kickout, which occurred in December, was based on whether the level of the fund was at or above 90% of its initial level on one of its monthly observation dates, at which point investors would receive a fixed return. The fund did not breach the 80% barrier, so investors received a return equal to the change in the index in either direction from its initial