EUROPE - AXA Investment Managers (AXA IM) has obtained an exclusive licence to launch exchange traded funds on European Public Real Estate Association (EPRA) indices.
AXA IM becomes the first issuer in Europe to announce an ETF on the real estate asset class. The EPRA index family was launched in May 2000 to answer demand for real-time indices managed and constructed by real estate professionals.
The launch of the ETF is scheduled for the first half of 2004. Euronext has been chosen as the listing exchange. Goldman Sachs, Merrill Lynch and Morgan Stanley will act as official market makers.
Nick van Ommen, CEO of EPRA said: “This is a huge step forward for the European real estate sector. The introduction of ETFs on the listed real estate sector will provide a more professional and flexible environment for both institutional and retail investors.”
“We are delighted to maintain an excellent relationship with AXA IM which has chosen Euronext as a unique trading platform for all its EasyETF family,” said Roland Bellegarde (pictured), deputy CEO of cash market and listing at Euronext.
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