Analyse: Lyxor ETF FTSE MIB

Wer italienische Kreditinstitute als Zombi-Banken ansieht, sollte sich vom FTSE MIB fernhalten. Die andere Sichtweise: Italien-Aktien sind unterbewertet und profitieren bei einer Entspannung der Wirtschaftskrise.

Hortense Bioy, CFA 02.08.2013
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Rolle im Portfolio

The fund provides broad exposure to Italian large-cap equities and can be used as a core building block for those looking to build a diversified Italian-centric portfolio. However, investors should be aware that the top four constituents account for about half of the total value of the FTSE MIB index. Financials is the top sector with a weight of 31-35%. 

This fund can also serve as a tactical tool for those looking to place a bet on the near-to-medium-term prospects of the Italian stock market under the belief that the it is undervalued. But as is the case with other European equity benchmarks, the FTSE MIB consists of truly global players which derive a large part of their revenues from their overseas activities. So, placing a tactical bet on this fund means taking a bet on the outlook for both the Italian and global economies. 

Investors outside of the eurozone considering buying this fund should be wary of currency risk.

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Über den Autor

Hortense Bioy, CFA

Hortense Bioy, CFA  is director of passive fund research in Europe.