SOURCE ENTERS SWISS ETF MARKET
Source entered the Swiss ETF market earlier this week with the listing of 15 exchange-traded commodities (ETC) on the SIX Swiss Exchange. Source has initially listed 14 T-ETCs (Treasury Bill-secured ETCs) that track S&P GSCI total return commodity indices and one physical gold P-ETC that tracks the spot gold price and is secured by gold bullion held in J.P. Morgan Chase Bank’s London vaults. The annual fixed fee for all T-ETCs is 0.49 per cent a year while the Source Physical Gold P-ETC has a fee of 0.29 per cent a year.
NEW RBS EMERGING MARKETS AUTOCALL
Barclays Stockbrokers clients get exclusive access to RBS’s new Emerging Markets Autocall Accelerator until 15 November. It is a five-year fixed-term investment with exposure to the MSCI Emerging Markets Index. Investors will receive a return of 20 per cent after two years, if the level MSCI Emerging Markets Index is higher than or at the original closing level. If it is lower than the original level, then the investment continues for its full five-year term and investors’ returns are dependent on the performance of the underlying index.
TRIPLE LEVERAGED ETCS LAUNCHED
ETF Securities yesterday announced that it had launched 16 Triple Long and Triple Short Currency exchange-traded currencies (ETC). These are the first triple leveraged currency ETCs in Europe. They track the triple long and triple short versions of Morgan Stanley’s MSFX indices. The triple leveraged currency ETCs are at least 100 per cent collateralised and the maximum possible loss is the value of the initial investment, ETF Securities said. The products will be supported by multiple market makers and carry an annual fee of 0.98 per cent.