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Deutsche Börse launches EuroGov indices and ETFs

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Deutsche Börse has launched a new index family for the government bond market with six EuroGov indices.

Deutsche Börse has launched a new index family for the government bond market with six EuroGov indices.

The EuroGov indices track the current German market for fixed-income government bonds denominated in euros.

The ETF issuer ETFlab Investment, a subsidiary of DekaBank Deutsche Girozentrale, has also launched six bond index funds on the new EuroGov indices, which are traded in the Deutsche Börse XTF segment.

The six indices measure investment success in the market segment of highly liquid government bonds, each of them covering a different maturity.

For five indices only bonds with a minimum residual maturity of one year are considered.

The EuroGov Germany Money Market index contains fixed-rate bonds with a residual maturity of minimum two months and maximum one year. To be included in the indices, bonds must have an outstanding minimum volume of EUR4bn.

The indices exclude zero-coupon bonds.

The six new ETFs chart the performance of the EuroGov Germany index family with various maturities. The following maturity classes are calculated and disseminated for all indices: two months to one year; one to three years; three to five years; one to ten years; five to ten years; and more than ten years.

The ETFs enable investors to participate in the performance of highly liquid government bonds for the German market, according to different residual maturities.

The composition of the EuroGov indices is reviewed and adjusted quarterly, while the EuroGov Germany Money Market index is adjusted monthly. The weighting of the bonds in the index is based on their market capitalization. Changes to the outstanding nominal volume are made in the index when the composition is updated on the respective dates. A bond’s index weighting is limited to 30 per cent on the specific dates. The management fee for these ETFs is 0.15 per cent.

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