Deutsche Börse has announced the launch of the world’s first Turkish bond index ETF. The ETF was issued by LAM ZyFin Global Markets, and has been tradable on Xetra and Börse Frankfurt since Tuesday.
The LAM Alternatif ZyFin Turkey Sovereign Bond UCITS ETF enables investors to participate for the first time in the performance of Turkish government bonds denominated in Turkish lira. The reference index comprises six bonds, each representing two of the bonds with the shortest durations from the duration groups 2-5 years, 5-10 years and 10+ years. Additional selection criteria are fixed interest payment, a minimum value of TRY 100 million, denomination in Turkish lira and a minimum residual term of two years.
The fund is calculated in US dollars.
The product offering in Deutsche Börse’s XTF segment currently comprises a total of 1,142 exchange traded funds. This selection, together with an average monthly trading volume of around €15 billion, makes Xetra Europe’s leading trading venue for ETFs.
Details of the ETF are as follows:
- Name: LAM Alternatif ZyFin Turkey Sovereign Bond UCITS ETF
- Asset class: bond ETF
- ISIN: IE00BYVJW411
- Total expense ratio: 0.89 percent
- Distribution policy: accumulating
- Benchmark: ZyFin Turkey Sovereign Bond Laddered Index (Total Return, USD)