First Trust China Fund (FCA)
NASDAQ (NMS) NASDAQ (NMS) Primary Summary
FCA Chart
Lloyds raises motor finance provisions to £1.95bn but questions FCA methods
Lloyds Banking Group PLC (LSE:LLOY) told investors that it will make an extra £800 million charge for the motor finance redress scheme, bringing its total provisions to £1.95 billion. The lender questioned the Financial Conduct Authority's proposed methodology, announced a week ago, stating it does not reflect actual customer loss or align with the Supreme Court's judgment in early August.
FCA intervention may complicate pay-out process; so what does this mean for Lloyds investors?
The Financial Conduct Authority (FCA) pushed back against a sweeping court ruling that could force banks to pay out billions in motor finance compensation, which may limit payouts but complicate the compensation process, according to research from RBC Capital. Submitting its views to the Supreme Court, the FCA said the Court of Appeal had gone “too far” by assuming all car dealers owed customers a fiduciary duty - meaning a legal obligation to act in their best interest.
Lloyds, Close Bros and other motor finance lenders face redress scheme, says FCA
A motor finance redress scheme has been proposed by the UK financial watchdog if the current review, including a looming Supreme Court decision, finds that customers have lost out due to widespread failings by lenders, including Lloyds Banking Group PLC (LSE:LLOY) and Close Brothers Group PLC (LSE:CBG). In that case, the Financial Conduct Authority (FCA) confirmed that it is likely to launch a consultation about an industry-wide redress scheme.
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First Trust China Fund Profile
| NASDAQ (NMS) Exchange | US Country |
Overview
The company is a dedicated investment fund that focuses on leveraging the potential of the Chinese market by primarily investing in the securities listed on the NASDAQ China Index. It aims to provide investors with an opportunity to achieve risk-adjusted returns that are superior to traditional indices. This is accomplished by employing the AlphaDEX® selection methodology, a distinctive approach designed to identify stocks that have the potential to generate positive alpha. By committing at least 90% of its net assets, including the money it borrows for investment purposes, to securities that are part of the index, the fund seeks to maintain a high level of adherence to its core investment strategy.
Products and Services
AlphaDEX® Selection Methodology: At the heart of the fund's strategy is the AlphaDEX® selection methodology, a proprietary technique used to pick stocks from the NASDAQ China Index, or the "base index." This methodology is engineered to identify stocks that are likely to provide positive alpha, which means they aim to outperform the market on a risk-adjusted basis. By applying this sophisticated approach, the fund seeks to differentiate itself from conventional investment funds and deliver superior returns to its investors.
Risk-Adjusted Investment in NASDAQ China Index Securities: The fund's primary focus is on investing in securities that form part of the NASDAQ China Index. By dedicating at least 90% of its net assets, including investment borrowings, to these securities, the fund is deeply integrated into the dynamics of the Chinese market. This strategic investment approach is designed to capitalize on the growth potential of the Chinese economy while striving to mitigate associated risks through the selective investment process facilitated by the AlphaDEX® methodology.
Contact Information
