Ossiam has announced the launch of a new ETF, the Ossiam Shiller Barclays CAPE Global Sector Value, listed on five stock exchanges in Europe: Xetra; SIX Swiss Exchange; London Stock Exchange; Borsa Italiana and Euronext Paris.
The firm writes that this launch follows the successful track records of its US and European equity equivalents. Ossiam’s Shiller range of funds reached EUR2.6 billion in assets under management as of December 2022.
The new fund aims to deliver the net total returns of a selection of developed market equities, primarily large and mid-cap companies that are part of the Shiller Barclays CAPE Global Sector Net TR Index. The index is constructed on the basis of the cyclically-adjusted price/earnings ratio (CAPE), developed by Professor Robert Shiller and his graduate student, John Campbell.
The strategy’s ability to rotate in and out of sectors has historically enhanced its performance, the firm writes.
Bruno Poulin, CEO of Ossiam, says: “By launching our latest Ossiam Shiller Barclays fund, we aim to offer global investors the advantages of a unique, sound methodology to take advantage of global equity sector rotation in a single trade.”
Benedict Redmond, QIS structuring at Barclays, says: “Barclays is very happy to extend the partnership with Ossiam by further developing their range of funds based on the Shiller CAPE indices. Over the course of our co-operation with Ossiam since 2014, many of our clients globally have chosen to invest in the Ossiam Shiller Barclays CAPE strategies.”
The ETF is a Luxembourg SICAV, regulated by the CSSF, and uses synthetic replication. It has a total expense ratio (TER) of 0.65 per cent and is available under two accumulating share classes denominated in EUR and USD: