Deutsche AWM launches first Gulf ETF in Europe

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Deutsch Asset & Wealth Management (Deutsche AWM) has listed the first Europe’s ETF providing exposure to Middle Eastern states equities on the Deutsche Börse and expects to list it on the London Stock Exchange.

The db x-trackers MSCI GCC Select Index Ucits track the equity markets of the Gulf Cooperation Council countries. Sixty-five percent of the fund is allocated to Saudi Arabia equities. The GCC also includes Bahrain, Kuwait, the United Arab Emirates and Oman.

The ETF, which consists of 82 securities, has a total expense ratio of 0.65%. It replicates the MSCI GCC Countries ex Select Securities Index, itself partly based on MSCI GCC Countries. A few securities have been removed as foreign investors were not allowed to purchase it.

Manooj Mistry, head of ETP’s EMEA at Deutsche AWM, commented: “The Saudi Arabian stock market has traditionally been difficult for foreign investors to access, so the launch of an index tracker providing exchange-traded exposure to all the GCC countries is a significant step forward.”


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Adrien Paredes-Vanheule
Adrien Paredes-Vanheule is deputy editor and French-Speaking Europe Correspondent for InvestmentEurope, covering France, Belgium, Geneva and Monaco. Prior to joining InvestmentEurope, he spent almost five years writing for various publications in Monaco, primarily as a criminal and financial court reporter. Before that, he worked for newspapers and radio stations in France, in particular in Lyon.

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