The fund will invest at least 80% of its net assets in swaps that utilize BABA as the reference asset and in shares of BABA. The fund is non-diversified. Low commission rates start at $0 for U.S.

The deal amounted to HK$63.48m, or at HK$105.8 per share, 2.52% higher than previous close. BABA-SW is now trading up 1.36% to HK$104.6, with 20.99 million shares of HK$2.21b ...

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