FTSE Group today announced the launch of the new FTSE European Sector Index Series, a set of eight tradable indices which will go live on November 18th 2002 with Exchange Traded Funds (ETFs) issued by iShares, the world’s leading ETF provider, managed by Barclays Global Investors (BGI).
With the addition of more tradable indices to FTSE’s growing product portfolio, FTSE is rapidly expanding its reach in the ETF market. There are now 26 ETFs listed on FTSE’s European indices, with almost e800 million of assets under management. The development of the FTSE European Sector Index Series follows on from the successful launch of the FTSE Global Sector Index Series in February 2001.
The new index series covers eight of the most traded sectors, developed in response to the increasing trend towards sector-based investment. The FTSE European Sector Index Series provides investors with indices that have highly liquid constituents and low turnover. It is expected that additional products will be launched on the index series in the near future.
Mark Makepeace, Chief Executive, FTSE Group said today: “With the addition of iShares on the new FTSE European Sector Index Series, FTSE is making a considerable step forward in the ETF market. FTSE has worked extensively with the market to create a set of indices that we are confident will fulfil the growing needs of today’s investors.”
John Demaine, Director of iShares commented: “FTSE Group is one of the most established and successful global index providers. Our European iShares will benefit from being aligned to such a widely benchmarked index provider as FTSE.”