FinEx launches Russian RTS Equity ETF on Moscow Exchange

Mar 4th, 2016 | By | Category: Equities

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FinEx, the London-headquartered exchange-traded fund issuer with significant operations in Russia, has launched the FinEx Russian RTS Equity UCITS ETF (FXRL) on Moscow Exchange.

FinEx launch Russian RTS Equity ETF on Moscow Exchange

FinEx was the first provider to list an ETF locally on the Moscow Exchange.

The fund, which is denominated in US dollars and traded in roubles, tracks the widely followed RTS Index.

Maintained by Moscow Exchange, the RTS is a capitalization-weighted broad-based price index comprising 50 of the largest and most liquid stocks listed on the Russian exchange.

The index is highly concentrated with the three largest constituents making up nearly 40% of the total index. These are Gazprom (15.0%), the natural gas giant with operations across the energy supply chain; Sberbank (12.7%), a Russian banking and financial services institution with operations in many European and post-Soviet countries; and Lukoil (12.1%), Russia’s second largest oil company.

The fund has a total expense ratio of 0.90%.

FinEx launched Russia’s first ever locally listed ETF, the FinEx Tradable Russian Corporate Bonds UCITS ETF (FXRB), in April 2013. This fund provides exposure to shorter maturity liquid Eurobonds issued by Russian non-sovereign issuers.

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