XACT looks East
(Thomson Reuters ONE) -
XACT today becomes the first Nordic fund management company to issue an ETF that
tracks the performance of fast-growing China.
"The world's economic balance is tipping inexorably eastward and we want to
offer our customers the opportunity to take part in that journey in a simple
way," says Henrik Norén, manging director of XACT Fonder AB.
XACT China will follow the Hang Seng China Enterprises Index (HSCEI) which
tracks the 40 largest and most liquid Chinese companies on the Hong Kong
exchange.
-"China's strong economic development is going to be a feature of the financial
markets for many years to come. Even though the country will shortly be the
world's largest economy, the Chinese stock exchange has a relatively small
weighting in global indexes compared with those of the US and Europe. I believe
that in the long term we will also see a shift eastwards in the financial
markets," continues Henrik Norén.
Although the last decade has been characterised by healthy finances and despite
sales of cars in China being larger than in the US, Chinese GDP per capita and
standards of living are far behind those of the US, Europe and yesterday's tiger
economies such as South Korea.
-"Rising domestic consumption will alter the focus of the Chinese economy and
create conditions for strong economic development to continue," says Henrik
Norén. XACT China, which is the first equity fund launched by XACT not to focus
on the European markets, is being listed today on NASDAQ OMX Stockholm.
- "The level of interest in ETFs has increased substantially in Sweden, not
least amongst private investors, who have recognised that EFTs are a very
liquid, cost-efficient form of saving. This is our way of meeting their demand
for new EFTs that together can form the basis of a complete investment portfolio
with a good diversification of risk," says Henrik Norén.
For further information, please contact: Henrik Norén, managing director, XACT
Fonder AB, + 46 8 701 12 22
XACT is the Nordic region's largest issuer of ETFs and currently manages assets
of just over SEK 21 billion spread over 25 ETFs. XACT Fonder was formed in 2000
by the then OM Gruppen AB (now NASDAQ OMX AB), the same year as the first 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 ETF provider 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/1546955/474694.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#1546955]
Unternehmensinformation / Kurzprofil:
Datum: 16.09.2011 - 09:00 Uhr
Sprache: Deutsch
News-ID 64591
Anzahl Zeichen: 3495
contact information:
Town:
Stockholm
Kategorie:
Business News
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"XACT looks East"
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XACT Fonder AB (Nachricht senden)
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