.jpg)
STOXX Limited, the market-moving provider of innovative, tradable and global index concepts, today announced that the EURO STOXX 50 Index has been licensed to Mirae Asset Global Investments, a leading Korean asset management specialist, to serve as the basis for an exchange-traded fund (ETF). The ETF will be listed on Korea Exchange(KRX) today.
It is the first time that the EURO STOXX 50 Index has been licensed to underlie an ETF in Korea. There are currently 21 ETFs on the index available, globally.
“Licensing the EURO STOXX 50 Index for the first time for an ETF listed in Korea is a big step for STOXX, and also underlines our dedication to grow in the Asian markets,” said Hartmut Graf, chief executive officer, STOXX Limited. “The EURO STOXX 50 Index remains Europe’s most favoured and well-known blue chip equity index. Its liquidity, transparency and rules based methodology makes the index an ideal tool to participate in the performance of the Eurozone equity markets.”
"We, Mirae Asset, are very pleased to license the EURO STOXX 50 Index at this time and think of it as an important step for us as well," said Yu-Seok Seo, President of ETF Solution Business Unit, Mirae Asset Global Investments. "The EURO STOXX 50 Index is one of the most efficient vehicles to access the European stock market from the viewpoint of Korean local investors for their successful asset management."
The EURO STOXX 50 Index was launched in February 1998. It represents 50 supersector leaders in the 12 euro zone countries Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxemburg, the Netherlands, Portugal and Spain. The index is weighted by free-float market cap, and each component's weight is capped at 10% of the index's total free-float market cap. Through its outstanding methodology it ensures a well-balanced sector representation and simultaneously represents the overall market development. The index captures approximately 60% of the free-float market cap of the EURO STOXX TMI Index. Daily historical data are available back to December 31, 1986.
Please visit www.stoxx.com for further information.
