The index is made up of the 60 largest Italian companies by market capitalisation listed on Borsa Italiana outside those included in the FTSE MIB, which is the primary index for the Italian markets.
Marcello Chelli, head of Lyxor ETF Italy, said: “We are proud to bring to the market the first ETF tracking the performance of medium size Italian companies. The market was missing a mid cap ETF offering a highly geared exposure to the Italian equity market. After our FTSE MIB ETF passed the €1 billion milestone, FTSE was the partner of choice to develop our ETF on Italian mid caps.”
The FTSE Italia Mid Cap Index is part of FTSE’s Italia Index Series, which captures 95 percent of Italian domestic market capitalisation.
Sudir Raju, managing director, ETP Relationships EMEA at FTSE, commented: “As the ETF industry in Europe continues to mature, FTSE is delighted that issuers continue to develop more products to track the wide range of benchmarks FTSE offers across the region. Lyxor’s decision further validates FTSE’s commitment to Italy, while also reflecting the strong partnerships we form with all of our clients.”