Asset manager Exane Asset Management has announced the launch of two active ETFs based on its long-standing European equity strategies. The new ETF units concern Exane Equity Select Europe and Exane Equity Select Focus Euro, two existing funds in the company's range. The aim is to offer access to these strategies via a listed vehicle, while retaining the investment process of the original funds.
Two established European equity strategies
Launched in 2011, Exane Equity Select Europe is based on a sector-by-sector selection of European companies by the management teams. The fund aims to capture the performance of the most attractive companies, while controlling risk spreads relative to its benchmark index. The second fund, Exane Equity Select Focus Euro, launched in 2019, follows a comparable approach but with a more focused universe on the eurozone.
Between them, the two strategies represent more than €1 billion in assets under management. According to Morningstar data provided by the management company, Exane Equity Select Europe has outperformed 93% of comparable funds since its inception, while Exane Equity Select Focus Euro has outperformed 82% of its peers since its launch.
"We are delighted to broaden access to Exane AM's DNA - active management based on conviction - via a format in line with investor expectations. The launch of these active ETF units marks a new step in making our expertise in European equities more accessible", stresses Pierre Séquier, CEO of Exane AM.
An active strategy in ETF format
The new units provide access to these strategies via an active ETF format. Unlike traditional ETFs, which generally replicate an index, these vehicles are based on discretionary portfolio management.
The ETF format offers a number of specific features, including
- daily portfolio transparency
- intraday liquidity,
- continuous trading on the market.
For the asset management company, this development aims to offer an alternative between traditional funds and index vehicles, by maintaining an active management approach while making use of the ETF infrastructure.
An industry trend
The launch of these ETF units is part of a wider movement in the asset management industry, where some companies are seeking to adapt existing strategies to the ETF format.
In particular, this is in response to growing investor interest in listed vehicles, which can be more easily integrated into certain portfolios or distribution platforms.
Against this backdrop, several European players are now exploring the use of the ETF format for active strategies, a still relatively recent but growing segment within the listed fund market.
This article has been automatically translated using Breeze, powered by DeepL.