US asset manager Vanguard has begun expanding into Italy with the launch of a range of exchange-traded funds (ETFs) six months after Simone Rosti was appointed as the firm’s first country head.
Vanguard said last week is was listing 19 Ucits ETFs covering equities and fixed income on Borsa Italiana.
The firm, which has $5.1 trillion of assets under management and is one of the world’s largest investment groups, said the move would lower costs for Italian investors.
Rosti described the launch, which took place on January 18, as “another milestone” for the pioneer of passive investing and that the ETFs would appeal to clients across the board including asset managers and pension fund managers.
The ETFs track benchmarks including the S&P 500, FTSE 100, FTSE All-World High Dividend Yield and FTSE Developed Asia Pacific ex-Japan.
Japan, emerging markets corporate bonds, Treasuries and Eurozone government bonds are also tracked, and investment factors such as value.
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