Euro Stoxx 50 Index licensed to Yuanta to underlie exchange-traded fund

STOXX Limited, has announced that the EURO STOXX 50 Index has been licensed to Yuanta Securities Investment Trust Company (Yuanta SITC), the largest mutual fund company in Taiwan, to serve as the basis for an exchange-traded fund (ETF). The ETF will be listed on Taiwan Stock Exchange in 2016…..

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It is the first time that the EURO STOXX 50 Index has been licensed to underlie an ETF in Taiwan. There are currently 22 ETFs on the index available, globally.

“The EURO STOXX 50 Index is Europe’s favourite and well-known blue chip index. Based on a transparent and rules based methodology that ensures sector diversity and liquidity in the index, our flagship index provides market participants globally with access to the performance of the Eurozone equity markets,” said Hartmut Graf, chief executive officer, STOXX Limited. “Licensing the EURO STOXX 50 for the first time for an ETF in Taiwan is big step for STOXX as we expand in Asia.”

Julian Liu, president and chief executive officer of Yuanta SITC commented: “We are very delighted to team work with a large index provider like STOXX, to provide Euro-linked products in Taiwan. Our product focus has evolved from the home market to Greater China, Asia, US and Europe, and we aim to provide a more holistic set of ETFs to fulfill the needs of investors, both retail and institutional.”

“The outlook for the European economy is getting brighter and the upside potential is quite promising as well. We believe it’s a very good time to introduce the EURO STOXX 50 Index to the general public in Taiwan. The existing Yuanta network in Asia has expanded to China, Thailand, Indonesia and Korea through wholly owned, partnership or JV We will soon plan to cross-list ETFs on STOXX’s indices to other exchanges in these regions,” he added The EURO STOXX 50 Index was launched in February 1998. It represents 50 supersector leaders in the 12 euro zone countries Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxemburg, the Netherlands, Portugal and Spain. The index is weighted by free-float market cap, and each component’s weight is capped at 10% of the index’s total free-float market cap. Through its outstanding methodology it ensures a well-balanced sector representation and simultaneously represents the overall market development. The index captures approximately 60% of the free-float market cap of the EURO STOXX TMI Index. Daily historical data are available back to December 31, 1986.


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