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SGAM AI launches ETF in Italy based on Euro Stoxx 50


SGAM Alternative Investments has announced the launch in Italy of an ETF based on the Dow Jones Euro Stoxx 50 index, one of the most traded indexes on Borsa Italiana.

SGAM Alternative Investments has announced the launch in Italy of an ETF based on the Dow Jones Euro Stoxx 50 index, one of the most traded indexes on Borsa Italiana.
SGAM ETF XBear DJ Euro Stoxx 50, listed on Borsa Italiana’s ETF strutturati segment, offers a leveraged reverse exposure, up to 200 per cent, to the Dow Jones Euro Stoxx 50 index, enhanced by a monetary return.

It is the first ETF with leveraged reverse exposure on Dow Jones Euro Stoxx 50 index to be launched on the Italian market.
It is intended for investors who do not wish to use futures to set up a bear strategy. It can also be used to hedge a portfolio or to implement a long-short arbitration strategy between an equity portfolio and the Dow Jones Euro Stoxx 50 index, in order to only extract the out-performance from the portfolio, independently of the direction of the market. 
The reverse exposure to the index is variable and can be modified each quarter according to the market fundamental and volatility environment. It is set by a management committee composed of fund managers and analysts from SGAM AI.

At the launch date, the reverse exposure to the index is fixed at 200 per cent for the SGAM ETF XBear Dow Jones Euro Stoxx 50.

The ETF performance will be enhanced by a money market return which can reach three times Eonia. 
The SGAM ETF XBear range makes it possible to invest in a falling market through a coordinated fund (Ucits III) with reduced costs, as the fund does not charge any entry or exit fees. 
In February 2008, SGAM AI introduced its first ETFs in Italy and now has four ETFs listed on the Borsa Italiana’s ETF strutturati segment.
SGAM AI launched the first structured ETFs in October 2005, which were based on the Cac40 Index, and these were followed by others, for example linked to the Dow Jones Euro Stoxx 50.

Structured ETFs allow investors direct access to different strategies which in the past were only available to institutional investors, with the transparency, the flexibility and above all the low cost of traditional ETFs.
SGAM Alternative Investments is a wholly-owned subsidiary of Société Générale Asset Management.

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