US / EUROPE - UBS Global Asset Management has announced that it is the first company to use Morningstar's equity indices to create exchange traded funds (ETF) for the US and European markets.
UBS says that it will use the Morningstar indices to create a series of ETFs in the United States and Europe based on an enhanced version of Morningstar’s Style Box methodology. This will be followed by sector-specific and broad market indexes, UBS said.
In Europe, the first series of six ETFs was launched by UBS Global Asset Management on the SWX Swiss Exchange in November 2001 and four ETFs have been listed on the Deutsche Boerse since March 2002.
By Geoffrey Ho
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