KB Asset Management licenses EURO STOXX 50 Index for new ETF
Qontigo has licensed the EURO STOXX 50 Index to KBSTAR ETF, the ETF division of KB Asset Management, to serve as an underlying for an ETF listed on the Korea Exchange.
“Since the Covid-19 outbreak, local Korean investors' interest in overseas assets have significantly increased. We believe that the EURO STOXX 50 index, as the benchmark for European markets, is also capturing more investors’ attention and will lead to retail investors’ direct investment in the ETF. In particular, the collaboration between KBSTAR ETF and Qontigo is expected to provide a compelling option to investors who are considering investing in Europe via individual pension accounts,” says Yung Gi Hong, Head of the Multi-Solution Division at KB Asset Management.
“We are very happy that we are now making further inroads into the Korean market and expanding the reach of our EURO STOXX 50 flagship index, which currently combines EUR32.3 billion in assets under management globally. The EURO STOXX 50 is the go-to index for investors who are looking for ways to track the largest companies in the Eurozone across a diverse range of sectors,” says Rick Chau, Head of Asia/Pacific at Qontigo.
The EURO STOXX 50 Index covers the 50 largest companies among the 20 ICB supersectors in terms of free-float market cap in eight Eurozone countries: Belgium, Finland, France, Germany, Ireland, Italy, the Netherlands and Spain. The index has a fixed number of components and is part of the STOXX blue-chip index family. The index captures approximately 60 per cent of the free-float market cap of the EURO STOXX Total Market Index (TMI). Its selection methodology ensures a stable and up-to-date index composition. Fast-exit rules ensure that the index accurately represents the performance of only the largest and most liquid companies in a sector.