ETF and ETP sponsor WisdomTree has listed the ISEQ 20 UCITS ETF on the London Stock Exchange, concurrent to WisdomTree’s merger with the original ISEQ 20 ETF (IEFT).
Hector McNeil, Co-CEO of WisdomTree Europe, says: “The ISEQ 20® is a unique product on the Irish market providing international investors with an opportunity for exposure to a fund tracking the 20 leading ISE quoted Irish companies. This is the only ETF of its kind listed within Europe. WisdomTree Europe sees great potential in merging the funds and making an attractive product available to a wider investor pool. The new WisdomTree ISEQ 20® UCITS ETF should provide additional benefits to investors including greater liquidity as the ISEQ 20® will now be available through more than 20 Authorised Participants (APs) and Market Makers (MMs) while being managed by the world’s sixth largest ETF provider.”
Viktor Nossek, Director of Research at WisdomTree Europe , says: “Ireland’s tough austerity and reform agenda is paying off. On the back of improved economic growth and stabilised financial system, Ireland’s budget deficit is set to shrink to within the 3% EU limit.
"Investor sentiment in Irish equities is upbeat, with the ISEQ 20 – the Irish equity benchmark containing the 20 largest stocks on the Irish Stock Exchange – having tripled its value since 2009.
"With Ireland’s domestic demand rebounding, its exports strengthening and its banking sector restructured, the foundations have been laid for the ISEQ 20® to benefit from broad-based support of industrial, consumer and financial stocks and potentially sustain the strong performance longer term.”