Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Lyxor launches Eurozone banks ETF

Lyxor launches Eurozone banks ETF

An exchange-traded fund (ETF) that will track European banks has been launched by Lyxor.

The ETF will replicate the EURO STOXX Banks index, which currently contains 28 institutions including the Bank of Ireland, Deutsche Bank and UniCredit. Over the past year the index has risen by 15%, but is still 70% below its 2007 peak.

Lyxor argued that the sector would continue to re-rate in the months ahead. ‘Structural improvements in the eurozone such as an end to external deficits, a much better balance between fiscal tightness and accelerating structural reforms make eurozone financial assets particularly attractive,’ the firm stated.

It added that accommodative policy from the European Central Bank and increased certainty over the Asset Quality Review would also buoy the banking industry.

The ETF’s annual management charge will be 0.3%.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play On the Road Challenge: snowboarding with Rathbones' Klemme

On the Road Challenge: snowboarding with Rathbones' Klemme

Suzie Bliss snowboards at the Hemel Hempstead SnowCentre with Camilla Klemme from Rathbones.

The 10 most popular Wealth Manager videos in H1

The 10 most popular Wealth Manager videos in H1

Citywire Wealth Manager reveals which interviews and insights got readers clicking over the first six months of 2017

1 Comment Play Brexit won’t break us, says Janus Henderson co-CEO

Brexit won’t break us, says Janus Henderson co-CEO

VIDEO: In the third part of our exclusive series, Andrew Formica offers his opinions on the role politics will play in the AM industry's future.

Read More
Your Business: Cover Star Club

Profile: a Williams de Broe vet on striking out from Investec

Profile: a Williams de Broe vet on striking out from Investec

Laurence Boyle and his team became ‘somewhat of an oddity’ within Investec after joining via its acquisition of Williams de Broë

Wealth Manager on Twitter