iShares launches Euro STOXX 50 and DAX ETFs on HKEx

Jul 1st, 2016 | By | Category: Equities

Global index provider STOXX has licensed its Euro STOXX 50 and DAX indices to the world’s largest exchange-traded fund provider iShares to serve as the underlying for two new ETFs listed on the Hong Kong Stock Exchange (HKEx) earlier this week.

Matteo Andreetto, chief executive officer, Stoxx

Matteo Andreetto, Chief Executive Officer, Stoxx.

The iShares DAX Index ETF, (USD 9146 / HKD 3146 / RMB 83146) and iShares EURO STOXX 50 Index ETF (USD 9155 / HKD 3155 / RMB 83155) are physically replicated ETFs with multiple trading counters, allowing investors to manage their trading activities in US dollars, Hong Kong dollars, or Chinese Renminbi.

“We are pleased that the offering for STOXX’s and Deutsche Börse’s flagship indices is expanded in Hong Kong,” said Matteo Andreetto, Chief Executive Officer at STOXX. “The Euro STOXX 50 and DAX indices provide market participants globally with access to the performance of the key eurozone and German blue-chip companies, respectively, among them well known brands such as Bayer, BMW, Volkswagen or ING.”

The Euro STOXX 50 Index, launched in February 1998, 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’s methodology represents overall market development, capturing approximately 60% of the free-float market cap of the Euro STOXX Total Market Index, while ensuring a well-balanced sector representation.

The DAX Index, launched in July 1988, tracks largest and most important companies of the German equity market. It measures the share performance of the 30 largest German companies in terms of exchange turnover and market cap while each component’s weight is capped at 10%. The 30 stocks contained in DAX represent around 80% of the market cap listed in Germany.

The funds complement other iShares Hong Kong-listed equity ETFs which include:

iShares Nasdaq 100 Index ETF (USD 9834 / HKD 2834 / RMB 82834)
iShares FTSE 100 Index ETF (USD 9847 / HKD 2847 / RMB 82847)
iShares Core Kospi 200 Index ETF (USD 9170 / HKD 3170 / RMB 83170)
iShares Core MSCI Taiwan Index ETF (USD 9074 / HKD 3074 / RMB 83074)

The suite of funds are physically replicated with a range of management fees between 0.20% and 0.30%.

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