A NEW A-TYPE EXCHANGE TRADED FUND STARTED TRADING ON THE ISTANBUL STOCK EXCHANGE: FINANSBANK A.^. GT-30 Wednesday, 3 November 2010
A new Exchange Traded Fund “Finansbank A.^. GT-30 A Type Exchange Traded Fund”, based on the GT-30 index and founded by Finansbank started trading on the Istanbul Stock Exchange (ISE) on November 3, 2010.
The GT-30 index, whose return will be tracked by the new ETF, comprises of 30 largest stocks in terms of market capitalization, from Istanbul Stock Exchange and Athens Exchange (15 from each stock exchange), with a cap of 4 banks from each country.
Concurrent to the launch of “Finansbank A.^. GT-30 A Type Exchange Traded Fund”, another ETF based on the GT-30 index, founded by NBG Asset Management of Greece, started trading on the Athens Exchange.
The trading of these first multi-market ETFs in the region do not only allow simultaneous exposure to both markets, but also extend the product range in these markets for domestic and international portfolio investors. Furthermore, through this new investment vehicle investors gain access to the largest stocks of the Greek and Turkish markets simultaneously.