Deutsche Bank’s exchange-traded fund (ETF) arm db x-trackers announced on Monday the launch of its new S&P 500 Index ETF, which is UCITS III compliant. The fund will be listed on various European and Asian stock exchanges from the middle of this month but institutional investors can trade the ETF directly with Deutsche Bank on an over-the-counter basis. The ETF has an all-in fee of 0.20 per cent per year. The db x-trackers S&P 500 ETF will be listed on the following stock exchanges: Xetra Frankfurt, London Stock Exchange, Borsa Italiana, SIX Swiss Exchange, Nasdaq OMX Stockholm, NYSE Euronext Paris, Singapore Exchange SGX and Hong Kong Stock Exchange.
CREDIT SUISSE EYES EUROPEAN GROWTH
Swiss bank Credit Suisse has renamed its family of ETFs from Xmtch to Credit Suisse ETFs as part of its plan to become one of the leading ETF providers in Europe in the coming years. Credit Suisse currently manages €50bn in index mandates and is the leading provider of ETFs in Switzerland with €8.4bn in assets under management. In 2009, Credit Suisse significantly expanded its product range and depth, listing 30 ETFs in Italy and 29 in Germany. It currently offers 26 equity and 11 fixed income ETFs across three European jurisdictions, as well as three physically-backed gold ETFs.
SOURCE ISSUES NEW EM ETF
Specialist provider Source launched on Monday its new MSCI Emerging Markets ETF, which will track the MSCI Emerging Markets Total Return (net) index. According to Source, the new product will achieve the performance of the index by entering into total return swaps, thereby providing better returns than are currently being delivered in these products in Europe. The ETF is listed on the London Stock Exchange and is traded in US dollars.
RBS SLASHES TRADING FEES TO JUST £1
Trading fees can eat away at your returns so investors ought to be jumping at this new offer from RBS. Until 11 June, clients of Selftrade and Barclays Stockbrokers are able to trade covered warrants for a fee of just £1. Normally, you would be looking at fees of around £15 each time you make a trade. Each qualifying trade will be charged at your standard commission rate and the difference will then be rebated to you after the promotion period has ended.
ETF INVESTORS BETTING ON THE BANKS
Banking ETFs saw the greatest net inflows last week of all sector ETFs, according to research from BlackRock. Around $218m flowed into bank ETFs. Industrial goods and services experienced net outflows of $36.9m. Year-to-date, media has had the largest net inflows with $346.1m net new assets, while telecommunication sector ETFs have had the largest net outflows of $229.6m.