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Source launches Europe ex-UK ETF

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Source has launched the Source MSCI Europe ex-UK UCITS ETF, offering diversified exposure to large and medium sized companies across 14 developed market economies.

Source writes that European equities have been one of the top picks of Source’s multi-asset research team since early in the year. The market has strengthened but still looks undervalued relative to long-term averages, the firm says.

“Investors wanting exposure in this area have several options from which to choose, and the uncertainty around the outlook for the UK, given last week’s election result, will cause some to consider whether their chosen index includes it or not.”

 The new ETF has an ongoing charge of 0.20 per cent per annum. Chris Mellor (pictured), product specialist at Source, says: “Many of our investors use ETFs because they offer the ability to target specific exposures. For instance, some investors may want to separate their exposures to Europe and the UK, especially after last week’s election resulted in a hung Parliament. This ETF effectively puts them in control of the allocation.”
 

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