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New Entrant In Swedish ETF Market
By Staff | 08 May, 2012

Swedish fund manager Swedbank Robur yesterday launched three exchange-traded funds on Nasdaq OMX Stockholm.

The firm specialises in mutual funds, and this represents its first foray into the world of ETFs.

Thomas Eriksson, CEO of Swedbank Robur, said: “As one the Nordic leaders in asset management it is logical that we now expand our offering to also include ETFs as a complement to our managed funds. Swedbank Robur sees great potential in ETF products and we are hopeful that by entering this market we will be able to contribute to the interest and awareness around ETFs among both existing and new customers.”

All of the Swedbank subsidiary’s new funds use the OMX Stockholm 30 (OMXS30)—a Nasdaq OMX index that comprises the 30 most actively-traded companies on the Stockholm Stock Exchange—as their underlying index.

The ETF OMXS30 aims to replicate the performance of the index with a mixed methodology and a management fee of 0.30 percent. According to the firm’s website, “the fund invests mainly in shares and other equity securities and may also use derivative instruments. Transactions are made when necessary to adjust the fund's holdings to the benchmark”.

The ETF OMXS30 Bear 1 and the ETF OMXS30 Bull 2 use negative and leveraged exposure gained via instruments such as futures contracts to return the negative or positive returns of the index, respectively. Both have management fees of 0.60 percent.

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