SWITZERLAND - Pensionskasse Post, the pension fund of the Swiss Postal service has signed up to use the FTSEurofirst 100 index as a tracked for a pan-Eoropean equity mandate.
This win for the FTSE Group comes from one of the largest Swiss pensions funds with assets under management of over 10 billion Swiss francs (6.4 billion euros), and more than 53,000 contributing employees.
Commenting on the move, Thomas Grupp, portfolio manager at the Pensionskasse Post in Berne said: “The FTSEurofirst 100 index offers us wider and more accurate sector coverage of European stocks with a lower tracking error and lower costs than other indices”
The FTSEUrofirst indices were introduced in April. Trading activity based on the indices, includes futures and options contracts, which began on Euronext.life in June, an exchange traded fund sponsored by Lyxor Asset Management and two warrant programmes by BNMP Paribas and Societe General.
Other products based on the indices are to be announced shortly, says FTS>