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FinEx launches more Russian ETFs
31 October 2013
The firm's CEO says it embarks on "ramp-up phase" of plans in Russia
FinEx has launched the first international equity exchange traded funds (ETFs) in Russia after pioneering the introduction of ETFs on the Moscow Exchange earlier in the year,
The ETFs are based on a number of MSCI indices on both the Irish and Moscow exchanges.
Simon Luhr, managing partner and CEO of FinEx Capital Management, said: “The launch of these six new ETFs on the Moscow Exchange marks the beginning of the ramp-up phase of our plans in Russia.
“We are very happy that this new range provides an excellent addition to our growing portfolio of ETFs in Russia. MSCI, due to its size and depth of experience in our key markets, was the natural choice of index provider.”
The ETFs, based on MSCI's Germany , USA, USA IT, UK, Australia and Japan UCITS indices, have been cross-listed using FinEx's cross listing mechanism and offer investors access to the underlying MSCI indices with a total expense ratio of 0.9%.
Earlier this year, FinEx was the first ETF provider to list ETFs on the Moscow Exchange, launching the Russian corporate eurobond in April. The firm also listed a physically-held gold ETF on the Moscow Exchange in October.
FinEx said it expected to see “continued strong growth” in demand for ETFs over the next few years, with particular demand from investors in emerging markets, such as Russia.
Deborah Yang, MSCI managing director and head of MSCI's index business for EMEA and India, said: “Following a thorough evaluation of the global index providers, FinEx chose to license six of our flagship country and regional indices for the first international equity ETFs in Russia.
“This agreement reinforces our position as the benchmark of choice for the ETF market and we look forward to building on this relationship as FinEx continues to develop further their ETF fund offering.”