Swiss bank UBS on Thursday launched 64 new exchange traded funds on the London Stock Exchange to break the one-day launch record.
UK investors now have access to 66 ETF share classes from UBS, according to a press release.
“With our ETF range we aim to add value for UK investors by providing tools and building blocks for effective portfolio management,” said Clemens Reuter, head of UBS ETFs. “Our ETFs are designed as asset management products, ranging from core holdings to ‘satellite’ strategies.”
“This is the largest listing of ETFs that London has seen in one day, and takes the total number of exchange traded products listed here to over 1,000,” added Pietro Poletto, head of exchange traded products at London Stock Exchange Group. “They will offer investors access to a huge range of underlyings, and they will trade in Europe’s most liquid ETF marketplace.”
After launching 25 products in Europe in 2011, UBS has launched a further 18 this year and is promising that more will follow, the Financial Times reported Thursday.
UBS’s Reuter told the FT the London launch was a “very important step” as the UK represented a key market in Europe for UBS which is also planning to expand its ETF operations in Italy.
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