FRANCE - AXA Investment Managers (AXA IM) and BNP Paribas Asset Management have launched the first tracker in their new joint range of ETFs on Euronext.
EasyETF CAC 40 has been released as part of the EasyETF range, the brand name given to the joint range of ETFs launched by the firms last month. Its aim is to replicate the performance of the CAC 40, the French stock market’s benchmark index.
The new tracker is aimed at retail and institutional investors. For institutional investors, the firms said the ETF provided a solution to the issue of strategic or tactical asset allocation and could also be used for hedging.
The current EasyETF range includes 15 ETFs with assets under management of e450m. It is the first sector range in the eurozone and in 2005, the platform plans to develop the product range involving listed property companies and international indices.
An ETF (exchange traded fund), or tracker, is a fund that passively replicates the performance of an index. It is listed on a stock market and can be bought and sold like an equity.
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