BlackRock has launched a new ETF tracking the OMX Stockholm Benchmark Cap Index, in response to growing investor demand for access to the Swedish domestic equity market.
The fund is BlackRock’s first Dublin domiciled iShares ETF with single country exposure to Sweden, and provides broad exposure to approximately 80 of the largest and most liquid stocks from the country’s equity market.
The iShares OMX Stockholm Capped UCITS ETF (OMXS) will be listed in the UK and Germany, and registered for sale in Sweden, Finland, Norway and Denmark. It provides investors exposure to approximately 85 per cent of the publicly-traded stock market in Sweden, with companies from a variety of sectors.
Matti Tammi, Director in the iShares Nordics team at BlackRock, says: “The strong and stable long-term prospects of the Swedish economy make it an attractive investment for many investors. This ETF is a simple, cost-effective way for investors to build a country-specific allocation to the market within their portfolio. It should appeal to Swedish investors looking for domestic exposure, as well as international investors interested in the diversification that listed Swedish companies represent.”
The fund is physically replicating, meaning it buys the securities of the index, and has a total expense ratio of 0.10 per cent. The base currency of the fund is the Swedish Krona.
