CIC Asset Management's choice of the FTSEurofirst 80 index confirms the growing success of FTSEurofirst pan-European indices for financial products on the French market. La Poste and Groupe Caisse d'Epargne have already chosen the FTSEurofirst 80 index as a benchmark for their structured products.
Dang Co Minh, head of structured management for CIC Asset Management, comments “We never hesitate to adopt new solutions to offer our clients the best possible financial products. FTSEurofirst is clearly the best choice to represent the euro zone for our new fund, the CIC Optimum Monde Décembre 2010, because is more broadly based and reflects the market more accurately than other indices. We wanted to give our clients the benefit of those advantages as soon as possible."
In a joint statement, Jean-François Théodore, Chairman and CEO of Euronext, and Mark Makepeace, Chief Executive of FTSE Group, said “We are delighted by this latest success for our FTSEurofirst index series. The FTSEurofirst 80 has once again demonstrated its advantages over other indices. The rapid acceptance of the FTSEurofirst indices with major financial institutions makes us confident that we can keep building on these early successes. In the first place, more institutions in France and other parts of Europe are expected to adopt FTSEurofirst indices in the near future. Secondly, this will create favourable momentum for trading in derivatives based on these indices.”
1 The CIC Optimum Monde Décembre 2010 fund (ISIN code: FR0010120279) was launched on 2 November 2004 by Groupe CIC Banques.
