The Nordic ETF Market in Focus

With approximately EUR1.7 billion of assets under management, Sweden is the fifth largest ETF market in Europe, ahead of both Italy and Spain

Hortense Bioy, CFA 16 November, 2010 | 4:16PM

It has been ten years since the first exchange-traded fund was launched in the Nordics. XACT OMXS30 was listed on the Stockholm stock exchange on October 29th, 2000, offering exposure to the 30 largest Swedish equities as measured by market capitalisation. Since then, ETF turnover has increased hundredfold to over EUR22 billion last year and the number of offerings has multiplied.

XACT, which is owned by Handelsbanken, has added 18 funds to its product line-up, ranging from leveraged and inverse ETFs to sector ETFs. Also, new players have entered the marketplace, including Norway’s DnB NOR (DNBNOR), Sweden’s HQ Bank (HQ) and more recently Deutsche Bank (DBK) and UBS (UBSN).

Today the Nordic ETF market is fairly uneven because the ETF market within each country has developed at a different pace over the last 10 years. Sweden remains the biggest and most advanced market in the region with 63 listed ETFs. It has approximately EUR 1.7 billion of assets under management, making it the fifth largest ETF market in Europe, ahead of both Italy and Spain.

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About Author

Hortense Bioy, CFA

Hortense Bioy, CFA  is director of passive funds and sustainability research in Europe for Morningstar

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