FinEx, a London-headquartered provider of exchange-traded funds with strong links to Russia, has unveiled a range of international equity ETFs.
Simon Luhr, Managing Partner and CEO of FinEx.
Linked to MSCI indices, the funds provide broad equity market exposure to Germany, UK, Australia, Japan and the US, as well as sector-specific exposure to US technology.
The funds have been listed on the Irish Stock Exchange and cross-listed on the Moscow Exchange via a cross-listing mechanism pioneered by FinEx.
In April this year, FinEx became the first company to list an ETF in Russia, with its Russian corporate Eurobond ETF launch. Earlier this month, the company followed that up with the listing of a physical gold ETF.
The launch of six new ETFs heralds a significant step up in gear as the company seeks to capitalise on growing demand for exchange-traded products in less developed capital markets.
Simon Luhr, Managing Partner and CEO of FinEx Capital Management, commented: “The launch of these six new ETFs on the Moscow Exchange marks the beginning of the ramp-up phase of our plans in Russia. We are very happy that this new range provides an excellent addition to our growing portfolio of ETFs in Russia.”
Evgeny Kovalishin, President and CEO of FinEx Plus, added: “Our strategic aim is to offer a comprehensive range of ETFs in Russia, so we are glad to announce our next six UCITS ETFs, available from the Moscow Exchange from today, based on leading index agency MSCI’s indices.”
The underlying indices of the five country funds are designed to measure the performance of the large and mid-cap segments of the relevant country’s equity market. The indices typically cover about 85% of the investable universe. The index underlying of the sector fund captures the performance of those constituents of the country index categorised within the technology sector.
Commenting on the licensing of the firm’s indices, Deborah Yang, Managing Director and Head of the MSCI Index Business, EMEA and India, said: “We are delighted that following a thorough evaluation of the global index providers, FinEx chose to license six of our flagship country and regional indices for the first international equity ETFs in Russia. This agreement reinforces our position as the benchmark of choice for the ETF market and we look forward to building on this relationship as FinEx continues to develop further their ETF fund offerings.”
Each of the new funds, which are listed below, is traded in ruble and has a total expense ratio (TERs) of 0.90%.
FinEx MSCI USA UCITS ETF (FXUS)
FinEx MSCI USA IT UCITS ETF (FXIT)
FinEx MSCI Germany UCITS ETF (FXGE)
FinEx MSCI Australia UCITS ETF (FXAU)
FinEx MSCI UK UCITS ETF (FXUK)
FinEx MSCI Japan UCITS ETF (FXJP)