Source is pleased to announce today the launch of its new Man GLG Europe Plus Source ETF, providing exposure to the Man GLG Europe Plus Index, a long-only index developed by Man Systematic Strategies (MSS), a new group which draws on the combined expertise of GLG, AHL and Man’s Multi-Manager business….
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The Man GLG Europe Plus Index, created by MSS, is a long-only total return European equity index designed to capture outperformance from broker ideas provided specifically for Man GLG. It uses high quality ideas from approximately 60 leading brokers to create a liquid, highly diversified, long-only European equity portfolio. The index has similar market-cap exposure to the broad European equity market, with the potential for enhanced returns.
Europe’s brokerage community employs thousands of experienced research analysts who generate trade ideas for active investors. There is substantial evidence that these ideas add value. Since 2005, GLG has used a systematic process to select the highest quality broker ideas and run a liquid, diversified portfolio. This strategy is now available in index format, via the new Source ETF.
Commenting on the launch of the ETF, Ted Hood, CEO of Source, said, “Similar proprietary MSS strategies have delivered impressive and consistent outperformance relative to MSCI Europe over the last few years. We are very excited to be able to offer this quality of investment in the form of a Source ETF. It is groundbreaking to deliver an outstanding actively managed product in an investment with such a high degree of liquidity and transparency.”
Sandy Rattray, head of MSS, highlighted: “The product has a high level of transparency and a clear index driven approach,” said Rattray. “By providing a steady enhancement to equity index returns, using a highly diversified portfolio, we believe that the ETF will offer an attractive alternative to existing passive products.”
The ETF has 0.75% annual management fee. The fund was approved by the Irish regulator on 21st January 2011 and is in the process of being passported across Europe. It will begin trading in EUR on the Deutsche Börse from the 3rd February 2011.
PRODUCT SUMMARY
Product Name: Man GLG Europe Plus Source ETF
ISIN: IE00B59D1459
Bloomberg Ticker: MPFE GR
WKN: A1H6B2
Fund and Trading Currency: EUR
Management Fee: 0.75 % per annum
Listing: Deutsche Börse
Index Name: Man GLG Europe Plus Index
Index Ticker: GLGEURPL
Domicile: Ireland
The addition of this new ETF brings Source’s product range to 86 across equity, fixed income and commodity segments of the market. Source has now over US$7 BN in assets and has seen trading turnover of over US$160 BN since launch in April 2009. Source continues to focus on delivering incremental value to European ETF investors through a combination of enhanced indices, improved structuring and active trading, and is committed to delivering ETFs and ETCs with unparalleled liquidity, increased transparency and reduced counterparty risk.
Quelle: ETFWorld – Source
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