Update: Lyxor UCITS ETF FTSE 100

Versorger, Rohstoffe und Energie haben FTSE-Investoren in den vergangenen Jahren zu schaffen gemacht. Allerdings haben gerade solche Titel in den ersten Monaten dieses Jahres einen Comeback gesehen. Die meisten britischen Large Caps sind global ausgerichtete Konzerne und oft Weltmarktführer.  

Hortense Bioy, CFA 15.04.2016
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Rolle im Portfolio

The fund provides exposure to the UK’s 100 largest stocks. As such, it can be used as a core holding for investors looking to build a UK-centric portfolio and wishing to complement an allocation to mid-caps and small caps. It is also suitable as a tactical tool.

While the FTSE 100 is a widely followed benchmark, often cited as a bellwether for the UK economy and used as a barometer of investor sentiment about the UK stock market, it consists predominantly of global players, with more than 70% of their revenue coming from abroad. It also has historically been a relatively concentrated index, with, in recent years, a large overweighting in energy and mining companies.

Because of its mega-cap focus and constrained nature, the FTSE 100 stands as a narrow investment proposition that doesn’t represent the opportunity set available to managers of active UK equity funds. Active managers in the UK large-cap blend equity Morningstar Category have the ability to veer away from their UK large-cap mandates and tap into the mid- and small-cap segment when the market environment is favourable to the latter, as has been the case for the past few years.

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Über den Autor

Hortense Bioy, CFA

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