Deutsche’s db x-trackers adds ETFs to meet demand (EUROPE)

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July 14, 2009 10:17am ETF BASIC NEWS

europeEurope’s third-largest exchange traded fund (ETF) provider, Deutsche Bank unit db x-trackers, plans to launch 30 new products before the end of 2009 to take advantage of strong demand. Reuters reports, “It is the third biggest ETF provider in Europe by assets under management, behind European and world leader iShares, a unit of Barclays Global Investors, and Societe Generale’s Lyxor Asset Management. Michalik said db x-trackers will have around 150 products on offer at the end of


 2009 and likely have 200 by 2010. One of two products to be rolled out this week offers socially-minded investors an ETF comprising stocks in the S&P U.S. Carbon Efficient index, which Michalik said had both social-responsible criteria and a correlation of more than a 99 percent to the S&P 500. Db x-tracker’s goal is to provide coverage comprising core ETFs, satellite ETFs, and all asset classes. Michalik said 200 products might be near the upper limit of what was needed. ETF OFFERINGS EXPECTED TO TOP OUT Michalik said 1,000 would be a reasonable ceiling to expect for the number of ETFs from European providers in the near future, up from around 600 now.”

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