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Turkish asset manager wins approval for FTSE government bond ETF

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The FTSE Turkish Lira Government Bond Index has been chosen as the basis of the first fixed-income exchange-traded fund covering a European emerging market.

The FTSE Turkish Lira Government Bond Index has been chosen as the basis of the first fixed-income exchange-traded fund covering a European emerging market. Istanbul-based asset management company Finans Portfoy, which licensed the index from FTSE Group in June, has gained regulatory approval to list the ETF on the Istanbul Stock Exchange.

‘FTSE continues to drive the European trend of innovation in the ETF industry by working closely with issuers to precisely understand their needs,’ says Imogen Dillon Hatcher, the group’s managing director for Europe, the Middle East and Africa.

‘Creating the FTSE Turkish Lire Government Bond Index has allowed Finans Portfoy to develop an innovative and specialised product which appeals directly to regional and international investors looking for access to this market.’

Zafar Onat, an executive board member of Finans Portfoy, says: ‘Using the FTSE Turkish Lira Government Bond Index means that we’ve been able to create an ETF to allow investors to participate in the performance of the highly attractive Turkish fixed-income market through a single transaction.’

‘Finans Portfoy has been a pioneer in Turkish financial markets and aims to deliver another world-class product for the Turkish and international investment community,’ adds Dr Omer Aras, an executive board member of the asset manager’s parent, Finansbank.

The index contains 13 domestic bonds with a minimum nominal amount outstanding of 1,000 million Turkish lira, and includes both straight bullet bonds and zero coupon bonds.
Real time values for the new index are available from data vendors Reuters, Thomson and Bloomberg.

The FTSE Turkish Lira Government Bond Index is one of the latest additions to the FTSE Global Bond Series. FTSE indices now support more than 85 ETFs worldwide covering a range of asset classes and investment strategies and representing total assets in excess of USD20bn.

With offices in Beijing, London, Frankfurt, Hong Kong, Madrid, Paris, New York, San Francisco, Boston, Shanghai and Tokyo and clients in 77 countries worldwide, FTSE Group calculates and manages the FTSE Global Equity Index Series, which includes the FTSE All-World Index, the FTSE4Good series and the FTSEurofirst Index series, as well as domestic indexes such as the FTSE 100.

The company has collaborative arrangements with the Athens, Amex, Cyprus, Euronext, Johannesburg London, Madrid, Nasdaq and Taiwan exchanges, as well as with Nomura Securities, Hang Seng and China’s Xinhua Finance. FTSE also has a collaborative agreement with Dow Jones Indexes to develop a single sector classification system for global investors.

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