Press releases 2008
29 July 2008
World's First Kuwait ETF Launched On London Stock Exchange
The London Stock Exchange today welcomed the world’s first ETF to offer access to Kuwait. The Lyxor ETF Kuwait (FTSE Coast Kuwait 40) will trade on the Main Market and is the first ETF on the Exchange to focus exclusively on the Middle East, reflecting international investors’ growing interest in the region.
Commenting on the launch of the Lyxor ETF Kuwait (FTSE Coast Kuwait 40), Pietro Poletto, Head of ETF and ETC Markets at London Stock Exchange Group, said:
“I am delighted that Lyxor has chosen the London Stock Exchange to launch the world’s first ETF focused on Kuwait. This launch is great news for investors as it provides them with the opportunity to access to Kuwait’s fast growing banking, telecom and IT sectors while benefiting from the low-cost, instant diversification offered by ETFs”.
The launch of this new fund takes the total number of ETFs on the London Stock Exchange to 147, covering equity and bond indices from around the world. The total value traded in ETFs on the London Stock Exchange during the first half of 2008 was £13.6 billion, up 46% on the same period last year.
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For further information, please contact:
Alastair Fairbrother Press Office +44 (0)20 7797 1222 email@example.com
Jessica Stacey Citigate Dewe Rogerson (Lyxor) +44 (0)20 7282 1038
Notes to editors:
· About the London Stock Exchange Group
London Stock Exchange Group (ticker symbol: LSE) is Europe's leading diversified exchange business. It operates Europe's largest and most liquid equity market, holds the number one position in trading ETFs and securitised derivatives, and through its interest in MTS, is the leading platform for the trading of fixed income products.
The London Stock Exchange itself is the world's most international exchange with over 700 overseas companies from over 70 countries on its markets. It has consolidated this position in the last two calendar years, having attracted 202 international companies which raised nearly £30 billion between them. These figures include international companies on AIM, the London Stock Exchange's growth market, which has grown to become the world's most successful market for small and medium sized enterprises with close to 1,700 companies at the end of 2007.
Following its merger with Borsa Italiana in 2007, London Stock Exchange Group also now includes CC&G and Monti Titoli, Europe’s most efficient providers of post-trade services; and MTS, Europe’s most successful market for government bonds.
· About Lyxor:
Created in 1998, Lyxor AM currently manages over EUR 75 billion. A wholly-owned subsidiary of Société Générale Group, belonging to the Corporate and Investment Banking arm of the group, the asset management company specializes in three businesses:
- Alternative Investments (EUR 25.8 billion). Lyxor offers a broad range of hedge funds, funds of hedge funds and absolute return funds, adhering to high risk-management standards and rigorous hedge fund manager selection guidelines. Lyxor AM gained its prominence with its hedge fund platform. This platform includes more than 170 hedge funds covering all principal strategies and represents a diversified investment universe benefiting from a high level of transparency, security and liquidity.
- Structured Management (EUR 20.5 billion). Lyxor offers investment solutions to its customers adapted to their risk profiles and return objectives. These solutions integrate the innovations of the Group into this domain, world number 1 as regards structured products on equity.
- Index Tracking (EUR 28.9 billion). Lyxor offers one of the most diversified and liquid range of ETF (Exchange Traded Funds). The company is one of the top players of the European ETF industry. Lyxor ETFs are listed in Europe and Asia and reflect Equity, Bond and Commodity markets.
For more information visit www.lyxoretf.com
· About ETFs:
ETFs are index tracking funds listed on the London Stock Exchange’s Main Market which provide broad exposure but can be traded in the same way as shares. Eligible for inclusion in ISAs, attracting no stamp duty and with minimal management fees, they offer a cost-effective and simple way to track global indices.