DENVER--(BUSINESS WIRE)--ALPS, a DST Company focused on asset management and asset servicing, today announced the launch of the ALPS STOXX Europe 600 ETF, the first exchange-traded fund in the U.S. built to track one of the industry’s favored benchmarks for developed Europe stocks.
The Fund began trading on October 31, 2014 under the ticker symbol STXX.
STOXX Limited, a leading provider of innovative, tradable, and global index concepts, licensed the STOXX Europe 600 Index to ALPS specifically to underlie a U.S.-based ETF. There are 10 exchange-traded products (ETPs) available globally that track the benchmark, which accounts for about 90% of the market cap for developed Europe.
ALPS, a specialist in satellite and alternative investment strategies including MLPs, REITs, Commodities, and Private Equity, will serve as the Fund’s Advisor.
According to Tom Carter, President of ALPS Advisors, the STOXX Europe 600 Index’s liquidity, transparency, and rules-based methodology make it an ideal tool for investors and financial advisors.
“Simply put, the STOXX Europe 600 Index provides the broadest exposure to a broad range of European equities,” says Carter. “We’re particularly pleased to be working with STOXX Limited to bring the benefits of this innovative benchmark to the U.S. marketplace.”
Launched June 15, 1998, the STOXX Europe 600 Index represents the performance of companies across 18 European countries: Austria, Belgium, Czech Republic, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, and the UK. The index’s 600 components include the constituents of the STOXX Europe 200 Large, the STOXX Europe 200 Mid, and the STOXX Europe 200 Small indexes.
“Licensing the STOXX Europe 600 for the first time for an ETF listed in the United States is an important step for us,” said Hartmut Graf, chief executive officer, STOXX Limited. “This new ETF shows that our products are gaining recognition in this important marketplace.”
ALPS is well-known for delivering alternative investment products and access to specialty asset managers through a variety of exchange-traded funds, exchange-traded products, closed-end funds and open-end funds. For more information on the ALPS STOXX Europe 600 ETF, call 1-866-675-2639 or visit www.alpsfunds.com.
About ALPS
Founded in 1985, ALPS is a leading provider of innovative investment products and customized servicing solutions to the financial services industry. Headquartered in Denver, ALPS has expanded the delivery of its Asset Management and Asset Servicing Solutions to include offices in Boston, New York, Seattle, and Toronto. ALPS is a wholly-owned subsidiary of Kansas City-based DST Systems, Inc. For more information about ALPS and its services, visit www.alpsinc.com. Information about ALPS products is available at www.alpsfunds.com.
About STOXX
STOXX Ltd. is an established and leading index specialist, which started in Europe. The launch of the first STOXX® indices in 1998, including the EURO STOXX 50® Index, marked the beginning of a unique success story, based on the company’s neutrality and independence. Since then, STOXX has been at the forefront of market developments and has continuously expanded its portfolio of innovative indices. STOXX now operates globally across all asset classes.
The STOXX® Europe 600 is the intellectual property (including registered trademarks) of STOXX Limited, Zurich, Switzerland and/or its licensors (“Licensors”), which is used under license. The securities based on the Index are in no way sponsored, endorsed, sold or promoted by STOXX and its Licensors and neither of the Licensors shall have any liability with respect thereto.
Risks
Shares of Exchange Traded Funds (ETFs) are not individually redeemable and owners of the shares may acquire those shares from the ETF and tender those shares for redemption to the ETF in Creation Units only, see the ETF prospectus for additional information regarding Creation Units. Investors may purchase or sell ETF shares throughout the day through any brokerage account, which will result in typical brokerage commissions.
An investor should consider investment objectives, risks, charges and expenses carefully before investing. To obtain a prospectus, which contains this and other information, call 1-877-398-8461 or visit www.alpsfunds.com. Read the prospectus carefully before investing.
There are risks involved with investing in ETFs including the loss of money. The fund is subject to foreign investing risks including currency fluctuations and political uncertainty. Small cap and mid cap companies generally will have greater volatility in price than the stocks of large companies. Investments concentrated in certain regions, economies, countries, markets, industries or sectors generally will be more volatile.
The ALPS STOXX Europe 600 ETF is new and has limited operating history.
ALPS Portfolio Solutions Distributor, Inc. is the distributor for the ALPS STOXX Europe 600 ETF.
