AgioFunds and its listing partner Beta Securities Poland have announced the launch of an inverse WIG20 ETF on GPW, the Warsaw Stock Exchange.

Beta Securities Poland and issuance partner AgioFunds have launched GPW’s first inverse WIG20 ETF.

The Beta ETF WIG20short is the sixth ETF to list on GPW and the third new ETF listing this year.

The ETF allows investors to take a short position on the WIG20 Index, the foremost gauge of the Warsaw stock market.

The index tracks the performance of the 20 largest and most liquid companies traded on the Main List of GPW.

The index is weighted by free-float-adjusted market capitalisation subject to a cap of five companies from any one sector.

Commenting on the listing, Piotr Borowski, GPW Management Board Member, said, “We are delighted that another ETF has been listed on GPW. The WIG20short Beta ETF is a very interesting product as it allows investors to use short strategies and make returns when WIG20 is losing. The ETF is a perfect addition to the five long ETFs already listed on GPW, which investors can use to make returns when indices rise.”

Robert Sochacki, Board Member of Beta Securities Poland, added, “The fund tracks the WIG20short index and provides returns when WIG20 is going down. Following the WIG20TR and mWIG40TR Beta ETFs, we have not introduced a fund with a stronger focus on trading; the recommended investment horizon is one day.

“We want to deliver investment solutions that offer all participants of the capital market a good fit for their perspective on the market outlook. This is why we are launching the WIG20short ETF. We will soon develop more Beta ETFs.”

The fund has been seeded with PLN 5,000,000, or about £1m. It comes with a management fee of 2.00%.