CSAM launches new Dow Jones sector ETFs.
SWITZERLAND- Credit Suisse Asset Management has announced the launch of three exchange traded funds, the first to track the Dow Jones Titan sector indices. Dow Jones has issued an EFT licence to CSAM on its banks, technology and healthcare Titans indices. The ETFs are listed on the SWX Swiss exchange and are available henceforth.
Michael Petronella, managing director of Dow Jones Indexes, said: “the Titans indexes allow investors to add a global sector component to their portfolios in an easy and efficient way. Also, as some sectors, especially banks, technology and healthcare, become more global and consolidated it is important to offer the largest and most liquid sector leaders.”
Dow Jones sector Titan indexes represent the 30 largest and most liquid securities in eighteen separate market sectors. They are rules-based, free float market cap weighted and individual components and weights for each sector index are capped at 10% to prevent dominance by a single company.