ETF Securities launches 18 ETCs on Borsa Italiana
Exchange-traded commodity (ETC) provider ETF Securities has launched 18 new ETCs on the Italian stock exchange Borsa Italiana.
The products are aimed at reducing portfolio volatility, with a specific focus on currencies, by reducing the overall exposure to the US dollar.
Moreover, the new ETCs will cover the exposure of European investors to foreign currencies daily, while most products currently have a monthly risk coverage.
Euro-hedged ETCs are issued by Jersey-based ETFS commodity securities limited hedged, and they replicate the “Euro Hedged Daily” benchmark of Dow Jones-UBS Commodity Index.
Currency volatility can be one of the main factors behind ETC prices. The very slow economic recovery could increase volatility in foreign exchange markets, increasing uncertainty on return on investments, according to Massimo Siano, head of Italian market at ETF Securities (UK) Limited.
“Our efforts are towards making investments in commodities easier,” he added.
Following the launch, ETF Securities offers 139 ETCs on the Italian stock exchange.