Lyxor Asset Management, a wholly-owned subsidiary of Société Générale and a European leader in exchange-traded funds, has announced the launch on the London Sto
Lyxor Asset Management, a wholly-owned subsidiary of Société Générale and a European leader in exchange-traded funds, has announced the launch on the London Stock Exchange of four new ETFs targeting Korea, Hong Kong, Turkey and Eastern Europe, all with competitive total expense ratios of between 0.5 per cent and 0.65 per cent. The new ETFs are denominated in sterling but are also available in US dollars.
The Lyxor ETF MSCI Korea is based on the MSCI Korea Index, a free float-adjusted, market capitalisation-weighted index that monitors the performance of Korean stocks and grew by 30.80 per cent in 2007, 2.31 per cent in 2006 and 50.65 per cent in 2005. As of February the index comprised 113 companies with a total index market capitalisation of USD470bn. The fund has a total expense ratio of 0.65 per cent.
The Lyxor ETF Hong Kong (HSI) is based on the Hang Seng Index, a free float-adjusted, market capitalisation-weighted index of companies from the Stock Exchange of Hong Kong. As of February, the Hang Seng consisted of 43 companies with a total index market capitalisation of HKD11.39trn. The index grew by 39.31 per cent in 2007, 34.20 per cent in 2006 and 4.54 per cent in 2005. The fund’s total expense is 0.65 per cent.
The Lyxor ETF Turkey (DJ Turkey Titans 20) is based on the Dow Jones Turkey Titans Index, which comprised 20 companies with a total index market capitalisation of USD35.30bn as of February. The index grew by 72.42 per cent in 2007, declined by 2.44 per cent in 2006 and grew by 52.95 per cent in 2005. The fund’s total expense ratio is also 0.65 per cent.
The Lyxor ETF Eastern Europe (CECE Extended EUR) is based on a market capitalisation-weighted index of blue chip stocks that are members of the CECE Composite Index and the SETX Index, traded on stock exchanges in central, eastern and south-eastern Europe. As of March, the index comprised 47 companies with a total index market capitalisation of EUR177.7bn, and grew by 13.55 per cent in 2007, 19.59 per cent in 2006 and 40.52 per cent in 2005. The fund’s total expense ratio is 0.50 per cent.
Lyxor is a leader in the European ETF market with EUR 22.8bn in assets and a market share of 31.7 per cent at the end of January with a range of funds based on equity, bond, commodity, and sector indices listed on seven European stock exchanges. Lyxor recently expanded into Asia with the launch of six ETFs in Singapore and six in Hong Kong.
Created in 1998, Lyxor had EUR73.9bn in assets under management at the end of January in alternative investments, structured funds and index-tracking products, including EUR26.53bn in more than 170 hedge funds and funds of hedge funds across a wide range of strategies EUR 20.46bn in structured products.
