ANZ ETFS to launch first EURO STOXX 50 ETF in Australia

Jul 7th, 2016 | By | Category: Equities

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Australian exchange-traded fund provider ANZ ETFS Management is set to launch Australia’s first EURO STOXX 50 ETF later this month after STOXX licensed its EURO STOXX 50 index to the provider.

Australian ETF industry maintains strength despite market volatility

The first EURO STOXX 50 ETF is set to launch later this month in Australia

ANZ ETFS Management is a partnership between Australia and New Zealand banking group (ANZ) and ETF Securities (ETFS). Set up in 2015 it was created to provide ETFs to Australian investors and has so far listed six ETFs on the Australian Stock Exchange (ASX).

Matteo Andreetto, chief executive officer at STOXX, said in a statement: “It is the first time that our unrivalled flagship EURO STOXX 50 Index has been licensed for an ETF in Australia. We are thrilled to expand our footprint in the Asia-Pacific region… Market participants globally have already discovered the advantages of using vehicles that invest in the Eurozone, the major European sub-region. As of this month, Australian market participants can gain access to the performance of the highly liquid and most successful companies in the Eurozone such as Daimler, BMW, Bayer or Unilever through Europe’s most famous blue-chip index.”

Kris Walesby, head of ANZ ETFS, said: “We’re excited to license the EURO STOXX 50 Index and bring it to Australian investors as it offers access to the Eurozone’s leading companies and pure Euro exposure through an internationally recognized and deeply liquid European benchmark. We believe it will prove popular with both retail and institutional investors.”

The EURO STOXX 50 Index was launched in February 1998. It represents 50 supersector leaders in the 12 Eurozone countries Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxemburg, the Netherlands, Portugal and Spain. The index is weighted by free-float market cap, and each component’s weight is capped at 10% of the index’s total free-float market cap. The index captures approximately 60% of the free-float market cap of the EURO STOXX TMI Index.

Most recently STOXX Ltd licensed its EURO STOXX 50 index to iShares for an ETF on the Hong Kong Stock Exchange (HKEx).

At the time of writing there were no further details available on the ETF.

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