UK - State Street global Advisors has announced that it has received recognition from the Financial Services Authority for its family of European streetTRACKS Exchange Traded Funds (ETFs) based on MSCI sector indices.
The streetTRACKS funds provide UK investors with an array of indices enabling broad exposure to Europe’s equity markets through one simple and cost effective transaction. Comprising 13 funds, the European streetTRACKS ETFs trade on the NextTrack segment of Euronext Paris and Amsterdam, and were recognised as a regulated collective investment scheme in the UK in February 2002.
Jean-François Schock, executive director of sales, marketing and distribution for SSgA said: We are delighted to have obtained UK recognition for the European streetTRACKS funds.
Although UK investors trading on Euronext have been able to access these funds for some time, the FSA recognition allows us to market the funds actively to a wider audience in the UK and make institutional and retail investors aware of their considerable benefits.
At a time when diversification is a key priority, the streetTRACKS MSCI ETFs enable investors to gain broad-based exposure to entire stock markets in different countries and sectors.
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