Europe’s ETF provider Source has unveiled a new Europe-listed ETF that tracks the performance of biotechnology stocks.
Known as The Source NASDAQ Biotech UCITS ETF (SBIO), the ETF aims to deliver the total return of the Nasdaq Biotechnology index, comprised of a range of global giants to smaller companies.
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With an annual management fee of 0.40%, the ETF trades in US dollars on the London Stock Exchange.
The ETF has been launched in response to increasing investor demand.
Ted Hood, CEO of Source, said: "While there are some large, actively managed biotech funds available to Europe investors, passive options are limited. There are several ETFs, including our own, tracking the US Health Care sector, but we see many investors looking for more focused biotech exposure."
Currently, Source has $18bn in assets under management and offers a range of 80 products with exposure to equities, commodities, fixed income and alternative assets.
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