Lyxor launches Ucits ETF with exposure to eurozone banks
Lyxor Asset Management has launched Ucits ETF EUROSTOXX BANKS on NYSE Euronext, an ETF providing exposure to the main eurozone banks selected among the EURO STOXX index according to ICB classification.
The product will replicate the EURO STOXX Banks index. which benefits from Lyxor’s strong experience in European sectors.
According to Bloomberg data, in the broader European Banks space, Lyxor ranks as the leading provider in terms of efficiency over the past three years with the tightest liquidity spread, smallest tracking difference versus the benchmark, and tracking error.
This fund aims to benefit from the expected further re-rating of the sector. “Indeed, structural improvements in the eurozone such as an end to external deficits, a much better balance between fiscal tightness and accelerating structural reforms make euro-zone financial assets particularly attractive,” Lyxor said.
The ECB should continue to be supportive for the financial sector and the Asset Quality Review could help to increase investors confidence in eurozone banks.
According to Lyxor research analysts the financial sector will be a key player for 2014. and as result, Lyxor believes this is a good time to launch a fund which will allow investors to gain exposure to this sector.