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UBS Global Asset Management, one of the largest providers of exchange-traded funds (ETFs) in Europe, has launched a comprehensive line-up of ETFs on Borsa Italiana. The line-up is aimed at Italian investors and includes 61 ETFs replicating 40 indices across equities, fixed income and alternatives.
The launch is the largest one-time listing of ETFs in the history of Borsa Italiana and takes the total number of exchange-traded products listed on the Milan-based exchange to 861.
Clemens Reuter, Head of UBS ETFs, said: “The Milan listing reinforces our commitment to the Italian market and brings UBS’s wide range of ETFs to an important financial centre.”
He added: “With our ETF range we aim to add value for Italian investors by providing tools and building blocks for effective portfolio management. Our ETFs are designed as asset management products, ranging from core holdings to ‘satellite’ strategies.”
In keeping with its approach in other markets, UBS has rolled out a combination of both physical and swap-based ETFs on the same indices, allowing clients to choose the tracking model which best suits their investment needs, and maintained its unique two-tier pricing model.
This pricing model includes two share classes: ‘A’ class shares and ‘I’ class shares. A class shares are aimed at financial advisers and retail investors and come with a standard Total Expense Ratio (TER), while I class shares are aimed at institutional investors and offer a lower TER in return for a higher minimum subscription value.
Commenting on the listing, Pietro Poletto, Head of Exchange Traded Products at the London Stock Exchange Group, owner of Borsa Italiana, said: “We are delighted to welcome these new 61 UBS ETFs on our ETFplus market; this confirms the strategic value of a listing on the Italian stock exchange. Borsa Italiana has been for many years now an international leading platform in this segment and core to the development in Europe of ETFs.”
In addition to Borsa Italiana, UBS has ETFs listed on the London Stock Exchange (LSE), Deutsche Börse (Xetra), SIX Swiss Exchange, Börse Stuttgart and Nasdaq OMX. At the end of December 2012, these ETFs had over EUR 9 billion in assets, placing UBS sixth in Europe in terms of assets under management.
UBS has an 11-year track record managing ETFs, having launched its first ETF in 2001, and a 30-year track record managing passive investment strategies.