Zug (April 26, 2022) – Qontigo has licensed the STOXX® USA ETF Industry Index to Kiwoom Asset Management in Korea to be used as an underlying for an exchange-traded fund (ETF). This new index is the first to track the US ETF market through a thematic approach.
The index identifies US companies that are expected to benefit from the growth of the ETF market globally, including companies involved as ETF issuers, trading venues, and index providers.
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“ETFs have been the fastest-growing investment vehicle in recent years, and we expect this global trend to continue as more investors seek out ETFs for their convenience, cost efficiency and transparency. Amid this trend, we are very excited to launch an ETF that is the first of its kind in South Korea and that provides exposure to US companies leading the flourishing ETF industry worldwide. Beyond this second collaboration with Qontigo, we expect many more innovative products to come from this partnership,” said Kihyun Kim, Chief Investment Officer at Kiwoom Asset Management.
“The ETF industry uses indices to construct their products, and we in turn constructed an index which reflects the growing ETF industry. We are proud to say that this fund is the first of its kind, and we look forward to further collaboration with Kiwoom Asset Management,” said Rick Chau, Qontigo’s Head of Asia/Pacific.
The STOXX USA ETF Industry Index is comprised of 20 companies from the US exposed to the global ETF ecosystem. FactSet Revere (RBICS) data allow a detailed breakdown of the revenue sources of the eligible companies, helping the index gain accurate exposure to the targeted theme. The index universe is defined by all the stocks included in the STOXX USA Total Market Index.
This index is the latest addition to Qontigo’s wide range of STOXX thematic index solutions. Find out more.
