STOXX Ltd., the operator of Deutsche Boerse Group’s index business, and a global provider of innovative and tradable index concepts, announced that it is expanding its footprint in the Asia-Pacific region as smart beta strategies are gaining the interest of Asian investors.
A passive index fund – with the iSTOXX MUTB Asia/Pacific Quality Dividend 100 Index as underlying – has been issued by Yuanta Securities Investment Trust Company recently. In its initial weeks of subscription, the fund raised more than US$100 million, a clear sign of the appetite of local investors for smart beta strategies. STOXX has already co-developed six index concepts together with Mitsubishi UFJ Trust and Banking Corp. (MUTB). In July 2016 STOXX, Yuanta and MUTB had signed a memorandum of understanding to expand the smart beta footprint in Taiwan and beyond.
A key pillar of our Asian expansion is the cooperation with strong partners such as Yuanta and MUTB. Working with local partners helps us to understand precisely the expectations of regional investors when creating new concepts. Our expertise in factor and thematic strategies allow us to address the rising sophistication among Asian investors looking to diversify beyond the traditional country exposure indices. Our strong commitment to the region is underlined by the expansion of our local sales force in Hong Kong,” said Matteo Andreetto, chief executive officer, STOXX Limited.
STOXX hired Rick Chau as new Head of Asia-Pacific in November. Rick has a wealth of experience in the index and asset management field. Based in Hong Kong he will lead the continuous expansion of STOXX franchise in Asia-Pacific, reporting to Roberto Lazzarotto, STOXX Global Head of Sales.