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Euro Stoxx 50 index to underlie exchange-traded fund in Taiwan

STOXX Ltd has announced that the EURO STOXX 50 Index serves as the underlying for an exchange-traded fund in Taiwan…


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The index has been licensed to Yuanta Securities Investment Trust Company (Yuanta SITC), the largest mutual fund company in Taiwan, in September 2015.

“Today marks a big step for us as we further strengthen our presence in the Asian market. The EURO STOXX 50 Index is the leading blue-chip index for the Eurozone,” said Matteo Andreetto, chief executive officer, STOXX Limited. “Our transparent and rules-based flagship index provides market participants globally with access to the performance of the key Eurozone equities, now also available to Taiwanese market participants.”

“We are delighted that the offering for STOXX’s flagship index EURO STOXX 50 is expanded in Taiwan. This is an important development for us in our Asian expansion path and shows our commitment to the region,” said Shirley Low, head of Asia Pacific, STOXX Limited.

“Yuanta has always been the pioneer in providing holistic and comprehensive index investment solutions for Taiwanese investors and we strongly believe that through our cooperation with STOXX, we can deliver European market exposure to local investors. With the debut of the EURO STOXX 50 Index as the underlying for an exchange-traded fund in Taiwan, we set another milestone by expanding our global investment offerings.” said Julian Liu, president and chief executive officer of Yuanta SITC.

The EURO STOXX 50 Index was launched in February 1998. It represents 50 supersector leaders in the 12 Eurozone 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.

 

Source: ETFWorld.co.uk

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