Following the call for tender announced by FTSE Group (“FTSE”) and Athens Exchange on September 13th for the creation of the first Exchange Traded Fund to be listed on ATHEX, FTSE and ATHEX are pleased to announce that Alpha Bank Group has been selected to create an ETF based on the FTSE/ATHEX 20 Index. The product comes to market in January 2008 with an initial net asset value of €140 million.
The licensee has been selected from 7 candidates based on the following main criteria:
Starting Net Asset Value and expected growth of the ETF
Marketing budget and plan
Management and custody fees
Distribution network to both institutional and retail investors
Speed of introduction of the ETF
Issuer’s interest in developing and launching ETFs on other indices
In a joint statement, Imogen Dillon Hatcher, Managing Director, FTSE Europe Middle East and Africa, and Spyros Capralos, ATHEX Chairman, said: "We are delighted to be involved in the launch of this first ETF on ATHEX and are confident that this will be the first of a series of domestic, regional, sectoral and thematic indices that FTSE and ATHEX plan to introduce to the Greek market."
Through a joint venture co operation, FTSE and the Athens Exchange have created the FTSE / ATHEX 20 Index, which is widely regarded as the performance benchmark of the Greek market, comprised of companies with the biggest capitalization traded on the Athens Exchange. -- www.tse.or.jp
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