GLOBAL - Lyxor AM, a wholly owned subsidiary of Société Générale Group, has announced the listing of two new tracker funds on Euronext Paris, to deal with the Chinese and Eastern European markets.
The first new tracker fund is the Lyxor ETF China Enterprise, which tracks the Hang Seng China Enterprises Index (HSCEI) that has been calculated and published by HSI Services Limited (HSIL) since 1994.
The new ETF enables European investors to gain exposure to the large cap Chinese stocks (H shares) listed and tradable on the Hong Kong Stock Exchange.
The HSCEI is specifically designed for international investors, combining the ease of trading on the Hong Kong exchange and a transparent compilation by HSIL.
In addition, the Lyxor ETF Eastern Europe (CECE Eur), which brings the number of ETFs managed by Lyxor to 17, is also being introduced which tracks the CECE in euros.
Calculated and disseminated by Wiener Börse, the start level of CECE®EUR was set to 746,46 points as of 4 January 1999. CECE®EUR covers about 95% in terms of turnover and over 85% in terms of market capitalization of the total Czech, Hungarian and Polish stock markets.
The new ETF gives direct access to a diversified portfolio of EasternEuropean blue chips in an efficient and cost effective manner.
Commenting on the new trackers, a spokesman for Lyxor AM, said: “The new tracker funds offer investors exclusive opportunities to invest efficiently on Chinese H shares (HSCEI) and Eastern European best performing stocks (CECE).”
Société Générale and Merrill Lynch will act as liquidity providers on Euronext.
At the end of June 2005, Lyxor AM ranked number one in the European ETF industry with e8.12bn in assets, making up 24.5% of the market share.
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