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Lyxor brings Indian ETF to the UK, launches first UK-listed SA ETF


Lyxor Asset Management, Société Générale’s wholly-owned subsidiary, has launched two new ETFs focusing on India and South Africa respectively.

Lyxor Asset Management, Société Générale’s wholly-owned subsidiary, has launched two new ETFs focusing on India and South Africa respectively.

The two new ETFs  – the Lyxor ETF India (S&P CNX NIFTY) (GBP), (Bloomberg code: LNFT) and the Lyxor ETF South Africa (FTSE JSE TOP 40) (GBP) (Bloomberg Code: LSAF) – offer the ability to access the Indian and South African markets through one single share traded on the London Stock Exchange and feature competitive total expense ratios of 0.85% (Lyxor ETF India) and 0.65% (Lyxor ETF South Africa).

Lyxor was the first to provide an Indian ETF in Europe, and it is now providing UK investors with easy access to the Indian market with the listing of the Lyxor ETF India on the LSE. The Lyxor ETF South Africa is the first European ETF to cover this important market, providing a gateway to Africa for UK investors.

Daniel Draper, Head of Lyxor ETFs UK, Ireland and the Nordic region, says: ‘A core strength of Lyxor is its ability to offer highly competitive ETFs with low total expense ratios (TERs), high liquidity and some of the lowest tracking errors. We aim to capitalise on our strength in the global ETF marketplace by filling gaps in the UK market, and being the first organisation to launch a South African ETF on the LSE is a good example of our innovation.’

The details of the indices that Lyxor AM’s new ETFs will track are as follows:

  • Lyxor ETF India (S&P CNX Nifty) (GBP): The S&P CNX Nifty is the leading index for large companies on the National Stock Exchange of India.  The index is a well diversified 50 stock index accounting for 22 sectors of the Indian economy.  The Index grew by 39.8% in 2006 and in the 2007 year to date (29 December 2006 to 30 August), the index grew by 11.24%.
  • Lyxor ETF South Africa (FTSE JSE TOP 40) (GBP): The FTSE/JSE Top 40 index tracks the performance of the largest 40 stocks listed in the Johannesburg Stock Exchange (JSE). The JSE Top40 Index rose 37.94% in 2006 and in the 2007 year to date (28 December 2006 to 3 September 2007) it has increased by 15.42%.

Quotations for both ETFs will also be available in USD on the LSE.

Lyxor AM’s latest ETFs follow earlier launches of three FTSE ETFs – including the first to cover the FTSE All -Share – and two commodity ETFs. Further launches are planned for later this year, with a strong focus on emerging markets.

New Lyxor research among 50 intermediaries reveals that they have a positive long-term outlook towards emerging markets. When asked about the long term investment prospects for these markets, 71% and 51% of intermediaries interviewed had a positive view on India and South Africa respectively.

Justin Urquhart Stewart, Director of Seven Investment Management, a frequent user of ETFs, says: ‘A combination of strong demographic trends and rapidly evolving economies make India and South Africa very attractive to investors over the medium to long term. ETFs offer a very attractive way to achieve exposure to these markets and it is likely that these instruments will play a key role in encouraging more investor money to flow in to emerging markets.’

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