Swiss Exchange Launches First ETF

April 01, 2001

The Swiss Exchange in Zurich recently launched its first exchange-traded fund. The XMTCH (pronounced x-match, i.e., exchange match) tracks the Swiss Market Index virtually one for one. The SMI is a cap-weighted, dividend-adjusted index, and currently contains 29 liquid Swiss large caps representing some 80% of the total capitalization of Switzerland's equity market.

Launched by Credit Suisse Asset Management Funds, the new fund today traded some 7,482 units worth a total of SFr541,443 ($320,384).