Lyxor Asset Management is to launch the first exchange-traded fund to track the FTSE Group’s Italia Mid Cap Index.
The benchmark consists of the 60 largest Italian companies by market capitalisation listed on Borsa Italiana, outside of those included in the FTSE MIB, which is the primary index for the Italian equity markets.
The FTSE Italia Mid Cap Index is also part of the FTSE Italia Index Series, which captures 95 per cent of Italian domestic market capitalisation.
FTSE has an extensive range of indices in Italy and the wider European market, with over USD5bn in ETFs benchmarked to Italian markets and over USD44bn in ETFs listed in Europe.
Sudir Raju, managing director, ETP relationships EMEA, FTSE, says: “As the ETF industry in Europe continues to mature, FTSE is delighted that issuers continue to develop more products to track the wide range of benchmarks FTSE offers across the region. Lyxor’s decision further validates FTSE’s commitment to Italy, while also reflecting the strong partnerships we form with all of our clients.”
Marcello Chelli, head of Lyxor ETF Italy, Societe Generale, says: “We are proud to bring to the market the first ETF tracking the performance of medium size Italian companies. The market was missing a mid cap ETF offering a highly geared exposure to the Italian equity market. After our FTSE MIB ETF passed the EUR1 billion milestone, FTSE was the partner of choice to develop our ETF on Italian mid caps.
