Today XACT Fonder launches two new exchange traded funds on the Stockholm Stock Exchange (NASDAQ OMX). The new funds XACT Europe Bull 2 and XACT Europe Bear 2 follow the Dow Jones EURO STOXX 50 Index, which tracks the 50 largest stocks in Euroland. The funds have a leverage of two, which means a daily increase in XACT Europe Bull 2 with approximately two percent if the index increases with one percent. XACT Europe Bear 2, which has an inverse or negative leverage, moves in the opposite direction to the index, with a factor of two. The funds are traded on NASDAQ OMX in SEK and are the only of its kind in Sweden.  The management fee is 0.6%. Handelsbanken, Carnegie and Erik Penser will act as market makers for the funds. 

 

"XACT Fonder was the first ETF provider in the world to launch leveraged exchange traded funds and today we have a total of eight Bull and Bear funds", says Henrik Norén, Managing Director of XACT Fonder. "We see a strong demand for these types of products which is why we consider it a natural step to also offer European exposure in our Bull and Bear family."

 

"The Dow Jones EURO STOXX 50 Index remains the preferred underlying for exchange traded products as it offers liquid exposure to Europe's leading blue-ship companies in a single vehicle," said Ricardo Manrique, chief executive officer, STOXX Ltd. "The index is a logical choice to expand XACT's lineup of leveraged ETFs".

 

XACT's leveraged ETFs are often among the most traded shares on NASDAQ OMX, Oslo Børs and Burgundy. As the leading provider of ETFs on the Nordic market, XACT Fonder currently offers 14 Exchange Traded Funds on the Stockholm Stock Exchange and Oslo Børs.