XACT lists unique ETF on Oslo stock exchange
(Thomson Reuters ONE) -
XACT is now listing the world's first ETF to be entirely focused on Nordic oil
service companies. XACT Oil Service tracks the Oslo Børs OBX Oil Service Index
(OBOSX), an index based on the performance of the largest stocks on the Oslo
exchange that are linked to the oil service sector.
"With today's rapidly rising oil prices, and with a rising proportion of oil
reserves in wells that are difficult to extract, this is a very hot sector,"
says Christian Dahl, head of XACT in Norway. He adds:"We hope the unique XACT
Oil Service will attract foreign investors to the Norwegian market, too." The
Oslo stock exchange is the world's second largest bourse for companies operating
within oil service, in terms of both the number of listed companies in the
sector and market capitalisation. In recent years the sector has performed
strongly, and interest in the stocks has grown steadily. In October 2010, the
Oslo stock exchange launched the Oslo Børs OBX Oil Service Index (OBOSX), which
tracks the stock market performance of the largest companies that provide oil
extraction products or services. At present, these stocks are Aker Solution,
SeaDrill, Subsea7, PGS, TGS-Nopec, Prosafe, Fred. Olsen Energy and Sevan Marine.
The index is the only one of its type in Europe, and XACT Oil Service, which
tracks the OBOSX, is the first ETF to provide an opportunity, cheaply and
simply, to track the performance of the largest oil sector stocks that focus on
oil extraction technology. In conjunction with the listing of XACT Oil Service,
we are cross-listing a further eight ETFs which are already listed on Nasdaq OMX
Stockholm. With nine new listings, the number of ETFs on the Norwegian stock
market jumps from six to fifteen.
"In Norway, we have seen very substantial, and growing, interest in ETFs. It is
great that, with our Nordic provider profile, we can now carry out the first
Nordic cross-listing," says Henrik Norén, managing director of XACT Fonder.
The following nine ETFs are being listed on the Oslo stock exchange on 15 March:
XACT Oil Service (The largest Nordic oil service companies)
XACT Nordic 120 (The 120 largest and most traded Nordic
companies)
XACT Bank (The largest Nordic banking and insurance
companies)
XACT Materials (The largest Nordic materials companies)
XACT Construction & Real Estate (The largest Nordic construction and real estate
companies)
XACT Energy (The largest Nordic energy companies)
XACT Consumer (The largest Nordic consumer goods companies)
XACT Health Care (The largest Nordic healthcare companies)
XACT Industrials (The largest Nordic industrial companies)
For further information, please contact: Henrik Norén, managing director, XACT
Fonder AB,
Tel. +46 8 701 1222, Mobile: +46 70 291 1222
XACT is the Nordic region's largest issuer of ETFs and currently manages assets
of just over SEK 21 billion, spread over 22 ETFs.
XACT Fonder was formed in 2000 by the then OM Gruppen AB (now NASDAQ OMX AB),
the same year as the first exchange-traded fund (ETF) was launched in Europe. In
2004, the company was acquired by Handelsbanken, and since then it has been a
wholly owned subsidiary of Handelsbanken. XACT became the first player in the
world to offer leveraged ETFs, when XACT Bull and XACT Bear were launched in
2005. The average daily turnover for XACT's ETFs is around SEK 1 billion.
Press release (PDF):
http://hugin.info/136145/R/1496821/432587.pdf
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(i) the releases contained herein are protected by copyright and
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(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: XACT Fonder AB via Thomson Reuters ONE
[HUG#1496821]
Unternehmensinformation / Kurzprofil:
Datum: 15.03.2011 - 09:31 Uhr
Sprache: Deutsch
News-ID 52443
Anzahl Zeichen: 4635
contact information:
Town:
Stockholm
Kategorie:
Business News
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"XACT lists unique ETF on Oslo stock exchange"
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