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Credit Suisse today announced that it is expanding Credit Suisse Xmtch, its successful ETF range into Italy. Over the past eight years, Credit Suisse has grown its ETF business to become the leading provider of ETFs in Switzerland with Euro 6.0 billion AUM in its Xmtch ETF products. Credit Suisse’s launch of ETF products in Italy is the first launch in line with the Bank’s plans to expand across Europe.
ETFs are passively managed index-tracking investment funds offering institutional and private clients an investment solution with a high degree of liquidity, diversification and transparency. Credit Suisse is launching 17 replication (cash based) ETFs on the Italian Borse, providing investors with access to equities, inflation linked and government bond ETFs with exposure over a range of maturities and with a regional focus on Europe, the United States, and Japan. Italy is the first country outside of Switzerland into which Credit Suisse has expanded its ETF range, responding to an increased demand for index-based products among its European investors.
Credit Suisse sponsored survey* among Institutional Investors showed that Italy, the UK and Switzerland have the highest appetite for index related investments with 61% of respondents in Italy indicating a preference for ETFs. The research also revealed that 86% of Italian investors surveyed would prefer replication products, rather than synthetic ETFs showing a shift in attitude towards counterparty risk. Respondents across Europe considered liquidity the most important criteria when investing in ETFs.
Oliver Schupp, Managing Director at Credit Suisse and Head of Beta Strategies said: “The challenging market conditions of the last eighteen months coupled with an investor base that is increasingly looking for transparency and flexibility means that we are seeing a rising demand for ETF products among our clients.”
Gerhard Fusenig, Head of Asset Management for the EMEA region, Credit Suisse added: “Credit Suisse’s expansion into the Italian market is a significant step forward in expanding our successful ETF platform across Europe. It is consistent with our goal of distributing our best products to our institutional and private clients around the world.”
