.jpg)
Selection of the FTSEurofirst 80 by Groupe Caisse d'Epargne, one of France's leading institutions for personal savings and investment, marks an important new step forward for FTSEurofirst indices. Launched by the FTSE Group and Euronext in April 2003, these offer broader coverage and more accurate representation of the market, winning them a growing place as benchmarks for financial products.
Ecureuil Gestion's choice, which is expected to set the example for other major financial institutions in Europe, will consolidate interest in FTSEurofirst indices, by the same token favouring the development of trading in FTSEurofirst derivatives on Euronext.liffe, the Euronext derivatives market.
Xavier Parain, Director of Financial Engineering at Ecureuil Gestion FCP: "Considering the importance of index-based management for the euro-zone market, we needed an index offering higher quality features than those used up to now. Innovation to provide clients with optimum solutions has always been essential to our way of doing business, and it was only natural for us to adopt the FTSEurofirst 80 for all our new products, since our research shows that it offers broader coverage and tracks the euro-zone equity market more accurately. We are convinced that the FTSEurofirst index series will rapidly win new ground in the asset management industry."
Mark Makepeace, Chief Executive, FTSE Group: “Ecureuil Gestion FCP has rightly chosen a relative newcomer rather than the older style euro-zone indices. Designed to track performances of equity markets in the euro zone as accurately as possible, FTSEurofirst 80 has unmistakable appeal for structured products, as the index ensures that they stay perfectly aligned with euro-zone markets at every stage in their life up to maturity.”
Jean-Francois Théodore, Chairman and CEO, Euronext: “The decision of such an important financial institution as Ecureuil Gestion FCP to use the FTSEurofirst 80 to represent the euro zone in its offerings over the longer term testifies to the quality of FTSEurofirst indices, particularly in terms of market coverage. It is also a sign of confidence in the ability of FTSE Group and Euronext to win market recognition for their indices. Ecureuil Gestion's decision will not only encourage other European institutions to follow suit, but will have a direct impact on trading in FTSEurofirst derivatives, creating a lasting basis for interest that should attract new participants.”
For more information, visit www.ftseurofirst.com.
(1) The Organdi fonds à formule (ISN FR0010109181) distributed by Caisse d’Epargne Group since 15 September 2004 already uses the FTSEurofirst 80 as its index for the euro zone.
