Lyxor Asset Management, a wholly owned subsidiary of French broker Société Générale, has listed its Thailand-based exchange-traded fund (ETF) on NYSE Euronext's Paris market. This marks the first listing of a SET50-based ETF outside Asia.
The Lyxor ETF Thailand is designed to track performance of the SET50 net total return index, a Thai stock index calculated by the Stock Exchange of Thailand (SET).
Veerathai Santiprabhob, executive vice president and chief strategy officer of SET, said, “European portfolio investors account for 49% of the total foreign holding in Thai listed equities by market value. Despite the recent global economic slowdown and domestic political uncertainties, the SET index increased by 41% in US dollar terms during the past 12 months, making Thailand one of the three best performing markets in east Asia.”
Pedro Fernandes, head of European exchange traded products for NYSE Euronext, added, “This initiative from Lyxor will further expand opportunity for investors to diversify their portfolios through a leading regulated market.”
Lyxor Asset Management is the second largest ETF provider in Europe and the fourth in the world with the total assets under management of €37 billion across over 220 ETFs. Lyxor launched its first emerging market ETF in 2006 and its emerging market ETFs now account for €8 billion of its total assets under management, representing 24% of the emerging markets ETFs in Europe by asset size.