Europe

Two New European ETFs Begin Trading

Europe

UBS Global Asset Management introduced two new exchange-traded funds: the Fresco Dow Jones STOXX 500 (FEU) and the Fresco Dow Jones Euro STOXX 50 (FEZ). The new ETFs, which track the European and Eurozone markets, began trading on the New York Stock Exchange yesterday.

"Dow Jones STOXX blue-chip indices are the proxy for the new European marketplace. Narrowly based and capitalization-weighted, these indices offer investors liquidity, transparency and quality," said Scott Stark, managing director of STOXX Ltd.

UBS Global Asset Management introduced a family of ETFs under the Fresco brand name in Europe last year. UBS has also licensed the new Morningstar equity indexes, but it isn't clear yet if or when those funds will be introduced.

Currently there are two other existing ETFs managed by Barclays Global Investors tied to broad European regional indexes: iShares S&P Europe 350 (IEV) and iShares MSCI European Monetary Union (EZU).

European indexes include the UK and Switzerland markets, while Eurozone benchmarks exclude those two countries.

10/22/2002

  • See also the launch of new Dow Jones Global Titans ETFs on the Swiss Exchange.