vested
Apr 22, 2020
F SAMSUNG OIL: To Roll Over NY Jun Oil Futures Contracts, Replaced with Sep's
F SAMSUNG OIL (03175.HK) announced that currently, 100% of the Sub-Fund’s holdings of WTI Futures Contracts are June 2020 contracts which will expire on 19 May 2020.
Under the existing rolling strategy, the Sub-Fund will roll-over the June 2020 contracts in a 5-day roll-over period commencing on 7 May 2020 to be replaced by July 2020 contracts.
Over the course of the past day, the price of June 2020 contracts has dropped substantially. It is possible that the price of June 2020 contracts will drop to zero or a negative value.
Consequently, the continued holding of June 2020 contracts may lead to a substantial loss for the Sub-Fund and the Unitholders.
Under these circumstances, the Manager has determined to roll-over the Sub-Fund’s holdings of June 2020 contracts and replace its holdings with September 2020 contracts.
Source: AAStocks Financial News