GLOBAL - AXA Investment Managers (AXA IM) and BNP Paribas are launching the first every commodity index ETF, due to be listed on the German Stock Exchange on May 17.
EasyETF GSCI is based on the Goldman Sachs Commodity Index, and is the second ETF to be launched since AXA IM and BNP Paribas combined to develop the EasyETF range in February this year.
The fund is being launched in collaboration with Goldman Sachs and will be Euro and dollar denominated. The GSCI reflects the performance of the most widely used commodities in the world across the energy, metals, agriculture and livestock sectors.
Bruno Guiot, co-head of EasyETF development, commented: “This is a major step forward for the global ETF market. This asset class was one of the missing pieces in the ETF marketplace. It should be welcomed with great success.”
Heather Shemilt, managing director, GSCI, said: “The growth in commodity index investment has been phenomenal over the last few years and the addition of a GSCI ETF will allow even more participants to gain access to this sector.”
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