UBS launches new ETF on Xetra
UBS has launched an exchange-listed equity index fund – the MSCI USA 100% hedged to EUR UCITS ETF (EUR) A-acc – on Deutsche Börse's XTF segment.
The new ETF enables investors to participate for the first time in the performance of the MSCI USA index and also to benefit from hedging against exchange rate fluctuations between the euro and the dollar.
The underlying reference index of the MSCI index family is weighted according to free float market capitalisation and tracks the performance of the US equity market.
The exchange rate risk is hedged by the sale of US-dollar forwards at the relevant one-month forward rate.
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