BBVA AM unveils index fund range for institutional investors
BBVA Asset Management has launched Bindex, a range of index funds dedicated to institutional investors, pension funds and discretionary portfolio management.
The Bindex fund range encompasses four index funds: Bindex Spain Index, which replicates the Ibex 35, Bindex Euro Index (Euro Stoxx 50), Bindex Europa Index (MSCI Europe) and Bindex USA Covered Index-which will be currency-hedged.
BBVA AM said the launch has arisen from the growing demand of institutional investors asking for passive management products that enable them to build their portfolios.
The range of funds will be managed through a full physical replication of their benchmarks, and their minimum subscription amount will be €10m.
BBVA AM manages more than €800m spread between ETF and index funds.