Banca Transilvania launches procedure for a passively managed fund on the Vienna Stock Exchange

Newsroom 11/08/2010 | 07:36

Banca Transilvania Asset Management launches the licensing procedure of the BT Index Austria ATX, a passively managed fund on the ATX, the Austrian Traded Index, as is announced in a BT press release.

The ATX, the leading index of the Vienna Stock Exchange, is a capitalization-weighted price index, made up of 20 Austrian blue chip stocks traded at the Vienna Stock Exchange. The index is calculated and disseminated in real time and denominated in EUR. As of 31 July 2010, the ATX market capitalization amounted to EUR 58,87 billion, the effective tradable capitalization being EUR 35,20 billion.

The ATX is a globally recognized name and a reference for the Austrian capital market. Worldwide, the index is used by more than 23 issuers (banks, insurance companies, asset managers) as underlying for their financial instruments, such as structured products and standardized derivatives (futures and options). Currently, there are over 1.500 structured products (certificates, warrants, bonds), 2 Exchange Traded Funds and 2 passively managed funds linked to ATX.

“Banca Transilvania Asset Management is the first Eastern European financial institution that has received a license from Wiener Börse AG to use the ATX as underlying for a fund containing Austrian shares. We are happy to see an increasing interest of Romanian investors in companies listed on the Vienna Stock Exchange,“ said Michael Buhl, CEO of Wiener Börse AG.

Robert C. Rekkers, Banca Transilvania, CEO states: “BT Index Austria ATX is the first Banca Transilvania open-end fund denominated in Euro. We have enhanced the Group’s services, and this time we address current and potential customers who wish to make FX placements on an external market – liquid, mature and extended.”