Lyxor Asset Management, Société Générale’s wholly-owned alternative investment, structured product and exchange-traded fund management subsidiary has launched f
Lyxor Asset Management, Société Générale’s wholly-owned alternative investment, structured product and exchange-traded fund management subsidiary has launched four new ETFs on the London Stock Exchange, three of which track US equities while the fourth offers access to the MSCI World Index. All four new ETFs have total expense ratios of between 0.30 per cent and 0.50 per cent.
The Lyxor ETF Dow Jones Industrial Average tracks the Dow Jones Industrial Average, a price-weighted average of leading blue-chip stock that covers all industries except transportation and utilities.
The index grew by 6.43 per cent last year and by 16.29 per cent in 2006 after falling 0.61 per cent in 2005. The Lyxor ETF Dow Jones Industrial Average is the first London-listed ETF to track the DJIA and has a total expense ratio of 0.50 per cent.
The Lyxor ETF MSCI USA (GBP) tracks the MSCI United States Index, which reflects the performance of around 85 per cent of the stock market capitalisation of the US. The index grew by 4.09 per cent in 2007, 13.18 per cent in 2006 and 3.80 per cent in 2005. The total expense ratio of the Lyxor ETF MSCI USA (GBP) is 0.35 per cent.
The Lyxor ETF Nasdaq-100 (GBP) tracks 100 of the largest and most active non-financial domestic and international stocks listed on the Nasdaq Stock Market. The index grew by 18.67 per cent in 2007, 6.79 per cent in 2006 and 1.49 per cent in 2005. The total expense ratio of the Lyxor ETF Nasdaq-100 (GBP) is 0.30 per cent.
The Lyxor ETF MSCI World (GBP) tracks the MSCI World Index, which currently covers 23 developed market countries with 1,945 companies. The index grew by 7.09 per cent in 2007, 17.95 per cent in 2006 and 7.56 per cent in 2005. The total expense ratio of the Lyxor ETF MSCI World (GBP) is 0.45 per cent.
All the new London-listed ETFs are also available in US dollar versions. According to Lyxor, its ETFs offer particularly low annual management expenses, typically well below 1 per cent, and a multiple broker-dealer platform to maximise liquidity.
Lyxor is a leader in the European ETF market with EUR22.8bn in assets under management at the end of January and a European market share of 31.7 per cent, with equity, bond, commodity and sector index funds listed on seven European stock exchanges. Lyxor recently expanded into Asia with the launch of six ETFs each in Singapore and Hong Kong.
Created in 1998 and part of the corporate and investment banking of Société Générale, Lyxor currently manages a total of EUR72.1bn in alternative investments (EUR25.6bn), structured funds (EUR20.51bn) and index tracking products (EUR25.9bn).
