Lyxor Launches Leverage And Short ETFs In Amsterdam

December 10, 2008

Lyxor Asset Management on Dec. 10 listed two new exchange-traded funds (ETFs) on Euronext Amsterdam, offering long and short exposure to the primary equity index of Dutch companies. 

The AEX ETFs are Lyxor's first ETFs to list in Amsterdam. 

Leverage and inverse ETFs have been a huge asset gatherer in the U.S. ETF market, and Lyxor has been among the leaders in introducing the strategies in Europe (see story here).

The AEX Leverage and the AEX Short use underlying indexes created by NYSE Euronext and designed specifically for ETF use.

The AEX Index is the flagship Dutch equity index, covering the largest market capitalization companies trading on Euronext Amsterdam, formerly the Amsterdam Stock Exchange (AEX). The AEX Index is one of the major pan-European national indexes run by Euronext, alongside BrusselsBEL20Paris's CAC 40 and Lisbon's PSI-20.

Lyxor already offers traditional ETFs in Europe based on the BEL20 and CAC 40 indexes, and leveraged versions of the CAC 40, Germany's DAX Index and the DJ Euro Stoxx 50 Index. It also has a CAC 40 short ETF.

European ETF launches have been slow in recent months during the global market slowdown, but this is the second big ETF launch this week in Europe, following Crédit Agricole Structured Asset Management's introduction of 10 new funds on Euronext Paris (see story here).

Trading of ETFs in Europe, meanwhile, has been up. Euronext has had daily average turnover of 384 million euros in ETFs across its European exchanges in 2008, an increase of 23% compared with the daily average in 2007 of 313 million euros.



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