Romanian investment management company Globinvest listed the first ETF to track performance of the BET-EF index on Bucharest Stock Exchange on Monday, April 28.
Trading under the ticker GIBEFETF, the Globinvest Energy & Financials ETF aims at full replication of the benchmark index structure Bucharest Exchange Trading Energy, Utilities and Financials Index (BET-EF) of the stock exchange.
This index reflects the evolution of the Romanian companies listed on the Regulated Market of the BVB that are representative for the energy, utilities and financial sectors. It is a free-float market capitalization-weighted index, and the maximum weight of a company in the index is 20%.
The companies included in the index are selected based on both liquidity and free-float capitalization, ensuring that only the most liquid stocks of significant size are part of the index. The BET-EF index currently includes Banca Transilvania, OMV Petrom, Hidroelectrica, Romgaz, BRD-Groupe Societe Generale, Nuclearelectrica, Electrica, Transgaz, Transelectrica, Premier Energy and Bucharest Stock Exchange.
The capitalization of all companies listed on the main segment of the Bucharest Stock Exchange was RON 365 billion (EUR 73.4 bln) as of April 25. At the same time, the capitalization of all listed Romanian companies in the three sectors of activity covered by the BET-EF index represents approximately RON 200 billion (EUR 40.2 bln), or about 55% of the total capitalization of the main segment of the stock exchange. In terms of performance, from launch to date, BET-EF shows a correction of 5.40%.
“Less than a year after the launch of the dedicated sector index, BET-EF, we have the first ETF product tracking this index on the stock exchange. The listing of Globinvest Energy & Financials ETF diversifies the ETF products now available to investors on the BVB and provides them with exposure to the Romanian capital market in an efficient way,” stated Radu Hanga, Chairman of Bucharest Stock Exchange.
Globinvest is a Romanian company with 30 years of experience in investment management, established in Cluj-Napoca. The net assets of the investment funds managed by SAI Globinvest amount to approximately RON 270 million (EUR 54 mln). The initial assets of the new ETF amount to RON 2,2 million.
“Through this fund, we aim at providing investors with a simple and solid solution to access the most relevant companies in the energy, utilities and financial sectors - essential sectors for the stability and growth of the Romanian economy,” said Nicolae Adrian Pastor, CEO Globinvest.
(Photo source: BVB.ro)
