UBS Offers Europe ETFs
October 28, 2002
Fresco Index Shares, a unit of UBS AG, will distribute new exchange-traded funds based on European indexes in the U.S.
The Fresco ETFs began trading last week on the New York Stock Exchange. They are based on the Dow Jones Stoxx 50 and the Dow Junes EURO STOXX 50 indices, which UBS says are the most widely recognized proxies for European and Euro zone markets.
UBS introduced a similar series of Fresco ETFs in Europe nearly a year ago and has nearly $400 million in assets in the series, according to the firm.