SPA ETF partners with Caixa - Banco de Investimento

SPA ETF, the pioneering Exchange Traded Funds (ETFs) provider, is pleased to announce the signing of a breakthrough agreement with NYSE Euronext and leading Portuguese bank Caixa - Banco de Investimento(CaixaBI), to list and distribute the first ever ETF in Portugal.

SPA ETF PSI-20 will be listed on the NYSE Euronext in Portugal and will track the PSI-20 (the Portuguese Stock Index), opening the Portuguese ETF market to both retail and institutional investors alike.

The ETF is being listed as a direct response to investor demand. Portugal represents a significant investment opportunity for both local Portuguese investors and international investors looking to gain exposure to Portuguese stocks.

ETFs combine the simplicity of shares with the risk diversification of investment funds. This segment is having much success in all the European NYSE Euronext markets. A daily average turnover of 357 million Euros was traded on NextTrack in 2008, which is an increase of 22% compared with the average for 2007, which was 292 million Euros.

This new development with CaixaBI represents the first European distribution deal for SPA ETF. As an independent company, SPA ETF plans to set up further partnerships with distributors who stand to benefit from SPA ETF’s platform and knowledge in creating and listing exchange traded funds tailored to the specific needs of its partners.

Valentim Martins from Caixa – Banco de Investimento, comments: “CaixaBI is excited to be the first to bring these modern, innovative, cost efficient financial instruments to the Portuguese market. The huge growth of the ETF industry worldwide has been remarkable and we are convinced that this launch will be a great development for investors in Portugal. The first ETF to be launched in Portugal tracks the PSI-20, so now Portuguese investors can buy the market in just one share.”

Giovanna Marcondes, Executive Director at SPA ETF said: “We are delighted to have listed the first ETF in Portugal, in partnership with NYSE Euronext and CaixaBI. As Portugal’s leading banking institution for almost 130 years, CaixaBI was the obvious distribution partner. We look forward to working with NYSE Euronext and CaixaBI for many years to come.”