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STOXX Limited, a leading provider of innovative, tradable and global index concepts, announced today that the EURO STOXX 50 has been licensed to SinoPac Securities Investment Trust Company (SinoPac SITC) to underlie a passive index fund available in Taiwan for the first time. Expected to launch in November 2015, the new fund will be sold by SinoPac SITC to both institutional and retail investors. This is the second license on the EURO STOXX 50 Index in Taiwan this year.
“We expect international demand for financial products based on major European indices like the EURO STOXX 50 to continue to grow in Asia and other regions, as more market participants recognize the importance of gaining exposure to key Eurozone equities,” said Hartmut Graf, chief executive officer, STOXX Limited. “We are delighted to work with SinoPac SITC to expand the geographical investment offerings for Taiwanese clients.”
“SinoPac SITC has a good reputation for managing Great China equity funds, and is now planning to launch overseas index products to cater to growing demand among Taiwanese investors. The SinoPac EURO STOXX 50 Index Fund will be our second index fund for this customer group,” said Jason Wu, president of SinoPac SITC. “We are glad to cooperate with STOXX Limited to introduce our first Eurozone index fund for the Taiwanese market.”
Established in 1997, SinoPac SITC is a wholly owned subsidiary of SinoPac FHC and is one of the most experienced asset management companies in Taiwan. The company manages and distributes retail and institutional investment products such as mutual funds and discretionary management services.
Launched in February 1998, the EURO STOXX 50 Index represents 50 supersector leaders in 12 Eurozone 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. The blue-chip index is a well-balanced representation of sectors as well as 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.
