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FinEx ETF switches seven funds to Solactive indices


Asset manager and ETF provider FinEx ETF has completed the switch of seven ETFs to Solactive indexes – six country benchmarks as well as a US Large & Mid Cap technology index. 

The adoption of these seven Solactive indices marks yet another milestone for the trend of index users switching to high-quality benchmarks at lower costs. With eight out of twelve indices, Solactive now provides the lion’s share of underlyings for Russia’s ETF market leader. 

Russia’s ETF business is picking up pace. FinEx was the first ETF provider in Russia, and it has remained market leader since opening its first ETFs in 2013. Since 2016, as Russia has recovered from 2015’s oil crisis and the aftermath of economic sanctions, FinEx has more than doubled its assets under management. 

For its switch from an established index provider, FinEx chose Solactive’s Global Benchmark Series, a family of indices aiming to track the performance of 23 developed and 27 emerging countries covering the top 85% in terms of free-float market capitalisation. By utilising Solactive’s GBS, FinEx enables investors to access key developed markets, such as Germany, Japan, UK, USA, and Australia. Furthermore, with the licensing of the Solactive GBS China ex A-Shares Large & Mid Cap Index, FinEx is among the first clients to adopt an index from Solactive’s recently established Emerging Markets segment of Solactive’s GBS. Additionally, FinEx makes use of Solactive’s flexible benchmark design, which allows for customised constituent filtering via an open architecture sector classification. 

“It fills us with great joy to see our Global Benchmark Series echoing well within the indexing industry, and being a market leader’s candidate of choice for a series of substantial index switches makes us very proud,” comments Timo Pfeiffer, Head of Research at Solactive. “We are glad to find with FinEx an asset manager, which is able to service the rising demand in passive strategies in Russia.” 

“Following a comprehensive review of the index provider marketplace, we chose to expand our relationship with Solactive for a range of equity indices as they provide an excellent service for a very competitive fee. Solactive’s GBS gives us the exact exposures we need for our range of ETFs, and we are very excited about the future growth of our respective businesses,” comments Simon Luhr, Director of FinEx Funds PLC. 

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