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First active ETFs launch on SIX Swiss Exchange


SIX Swiss Exchange is expanding its offering with the addition of a suite of actively-managed exchange-traded funds from Swiss & Global Asset Management.

Swiss & Global Asset Management has initially listed 11 active ETFs, which track four MSCI Indices and offer investors an additional option for investing in the emerging markets, Asia and Europe regions, and worldwide, in the trading currencies CHF, EUR and USD.
An active ETF aims to beat its benchmark and generate excess returns. The portfolio manager has a high level of flexibility and is able to react quickly to current market trends in order to exploit investment opportunities more effectively and profitably. The portfolio manager actively optimises the composition of the fund on an ongoing basis by buying or selling selected equities or other securities. In an ideal scenario this leads to a double performance yield made up of an index and a product component.
With a view to protecting investors, issuers must calculate the indicative net asset value (iNAV) on a regular basis and send this to SIX Swiss Exchange. They must also notify SIX Swiss Exchange of the current portfolio composition on a daily basis. Issuers must also publish the method used to calculate the iNAV and the complete portfolio composition, the latter with a four-week delay, on their own website.
To make it easier to distinguish between them, on the SIX Swiss Exchange website ETFs are divided into actively and passively managed ETFs according to how they are administered. The master data for each ETF also includes a note specifying whether it is an active or passive product. It is now also possible to search for and select products specifically according to how they are administered.

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