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This tracker issued by UBS follows the Dow Jones EURO STOXX 50 index, which consists of 50 of the largest blue-chip stocks in the Euro zone. This Fresco Bees tracker is a class B share and is targeted towards institutional investors. The total expense ratio of the Fresco Dow Jones EURO STOXX 50 Bees tracker amounts to 29 basis points on a yearly basis.
UBS intends to develop further its range of trackers listed on NextTrack in the coming months.
Trackers, or Exchange Traded Funds (ETF), are index funds listed and traded on Euronext cash markets. These products offer the performance of an index and ally the advantages of shares (simplicity, continuous quotation), to those of the traditional funds (access to a vast choice of shares, geographic and sector-based diversifications). The Euronext NextTrack segment helps investors identify these products more easily and enables them to choose their preferred index or portfolio type from the range of trackers on offer.
Euronext is the European leader for listing and trading trackers. NextTrack, the Euronext equity product segment dedicated to trackers launched in January 2001 is a successful achievement, with a 68% market share in assets under management in Europe, and a 46.6% European market share in turnover over the year 2002. The total number of transactions on trackers in 2002, of 362,646, is up 106% on the previous year and the average daily turnover of €129 million in 2002 is up 94.4% on 2001.
The new Fresco Dow Jones EURO STOXX 50 Bees is the 63rd tracker to be listed on the NextTrack segment.
