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db x-trackers launches S&P 500 Index ETF


db x-trackers, Deutsche Bank’s exchange-traded fund platform, has launched the db x-trackers’ S&P 500 Index ETF.

The ETF is Ucits III compliant and tracks the S&P 500 Index, which represents the performance of the 500 leading companies in leading industries of the US economy.

The ETF will track a total return version of the S&P 500 Index which means the performance of the ETF will include the reinvestment of dividends.

To be listed on various European and Asian stock exchanges from mid-May onwards, the ETF provides investors with cost efficient exposure to one of the leading benchmarks for the US stockmarket, with an all-in fee of 0.20 per cent per annum.

Until the listings take place, institutional investors can trade the ETF directly with Deutsche Bank on an OTC basis.

Manooj Mistry (pictured), head of db x-trackers UK, says: “The S&P 500 is one of the most widely followed benchmarks for the US stock market. With this product we are giving investors outside the US an efficient and low-cost access to the S&P 500 index. Through the db x-trackers ETF range we now offer seven ways to gain exposure to the US stockmarket – S&P Carbon Efficient, S&P 500 Shariah, S&P 500 Inverse Daily, S&P 500 2X Inverse Daily, S&P 500 2X Leveraged Daily, MSCI USA (US large and mid cap companies) and the Russell 2000 (US small cap companies).”

The ETF will be listed on the following stock exchanges from the middle of May 2010 onwards: Xetra Frankfurt, London Stock Exchange, Borsa Italiana, SIX Swiss Exchange, Nasdaq OMX Stockholm, NYSE Euronext Paris, Singapore Exchange SGX and Hong Kong Stock Exchange.

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