DeAWM launches db X-trackers ETFs on the Nordic and Turkish equity markets

Deutsche Asset & Wealth Management (DeAWM) has launched direct replication exchange-traded funds (ETFs) providing exposure to the Nordic and Turkish equity markets, as it again expands its product offering……

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Kai Bald, Head of Public Distribution for Passive Investments at DeAWM

The db x-trackers MSCI Turkey Index UCITS ETF (DR) tracks the performance of the large and mid-cap sections of the Turkish equity market. With 24 constituents, the underlying index covers around 85% of Turkey’s listed equity sector. The International Monetary Fund (IMF) estimates that the Turkish economy will grow 3.4% this year and 3.7% next year (Source: IMF World Economic Outlook, April 2013).

Similarly, the db x-trackers MSCI Nordic Index UCITS ETF (DR) provides exposure to the large and mid-cap sections of the four Nordic countries – Norway, Sweden, Denmark and Finland. It currently has 67 constituents, representing approximately 85% of the free float-adjusted market capitalisation in each country.

The four Nordic economies all rank within the top 15 of the world’s most competitive economies, according to the World Economic Forum’s Global Competitiveness Index 2013-2014.

Kai Bald, Head of Public Distribution for Passive Investments, commented: “The Nordic ETF will be welcomed by those investors keen to focus on, or diversify in favour of, this particular part of the continent, which has performed strongly over the past year. The Turkey ETF meanwhile brings even greater choice to our already expansive emerging markets range.”

Both ETFs are ISA (Individual Savings Account) and SIPP (Self Invested Personal Pension) eligible, have UK reporting fund status, and use direct – physical – replication.

They listed today on the London Stock Exchange and the Deutsche Börse.

Source: ETFWorld.co.uk