Wed, 02/07/2014 - 14:10
Source is listing 16 of its most popular exchange-traded funds (ETFs) and exchange-traded commodities (ETCs) on the London Stock Exchange (LSE).
The new share listings will provide UK investors the opportunity to gain exposure to a wide variety of international investments denominated in Sterling.
The new Sterling-based funds include ETFs that provide targeted exposure to individual sectors of the S&P 500 equity market, known as Select Sector Indices. Sector ETFs have proven extremely popular, as they enable investors to tailor portfolios efficiently and quickly, and reflect their views more closely.
“Source is deeply rooted in the UK and particularly the London trading community, so the UK will always be an integral market for us,” says Michael John Lytle, chief development officer. “We launched Source in 2009 with the firm belief that we could deliver a better ETP market for investors, and in just five years we have made significant progress towards this goal. The new GBP share listings broaden the choice for UK investors, while being able to trade them on the LSE provides access to the most liquid and most actively traded exchange for ETPs in Europe.”
Among the 16 newly listed products is the USD1 billion Source S&P 500 UCITS ETF.
“This fund offers investors exposure to one of the most significant benchmarks in the world,” says Lytle. “We have improved the efficiency of the fund, and this has led directly to better returns for investors, with the fund outperforming the S&P 500 Total Return Index over the past year, after fees. We have also just cut the annual management fee to 0.05 per cent, from 0.20 per cent. This makes it one of the most aggressively priced funds on the market, and the lower fee will translate into a further enhancement to performance. Investors in the new GBP-listed shares will also enjoy this same low fee and improved performance.”
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