Globinvest Energy & Financials ETF has launched the first exchange traded fund (ETF) tracking the BET-EF index at the Bucharest Stock Exchange. The ETF was launched by SAI Globinvest, one of the companies with a tradition in investment management in Romania, while IFB Finwest, a participant in the exchange’s trading system, will act as the Issuer’s Market Maker.
Thus, SAI Globinvest, one of the Romanian companies with a tradition in investment management in Romania, listed on Monday, April 28, its second sector ETF on the Regulated Market of the Bucharest Stock Exchange (BVB) with the stock symbol GIBEFETF. The Globinvest Energy & Financials ETF aims to fully replicate the structure of the exchange’s benchmark index, the Bucharest Exchange Trading Energy, Utilities and Financials Index (BET-EF).
BET-EF is a price index, created by BVB to reflect the evolution of Romanian companies listed on the BVB Regulated Market that are representative of the energy, utilities and financial sectors. It is a free-float market capitalization weighted index, with the maximum weight of a company in the index being 20%. The companies included in the index are selected based on both liquidity criteria and free-float capitalization, to ensure that only the most liquid shares with a significant size are part of the index. The BET-EF index currently includes the following companies: Banca Transilvania (TLV), OMV Petrom (SNP), Hidroelectrica (H2O), Romgaz (SNG), BRD-Groupe Societe Generale (BRD), Nuclearelectrica (SNN), Electrica (EL), Transgaz (TGN), Transelectrica (TEL), Premier Energy (PE) and the Bucharest Stock Exchange (BVB).
Currently, 4 other ETFs are listed on the BVB: PatriaTradeville BET ETF Open-Ended Investment Fund, from Patria Asset Management, which tracks the performance of the BET index; Patria-Tradeville Energy ETF Open-Ended Investment Fund, also from Patria Asset Management, a sector ETF that has the BET-NG index as its reference; Intercapital BET-TRN UCITS ETF, which tracks the performance of the BET-TRN index, and Intercapital SBITOP TR UCITS ETF, which tracks the main Slovenian capital market index, both launched by InterCapital Asset Management (ICAM).
The capitalization of all companies listed on the main segment of the exchange is 365 billion lei, at the end of April 25. At the same time, the capitalization of all Romanian companies listed in the three sectors of activity covered by the BET-EF index represents approximately 200 billion lei, respectively approximately 55% of the total capitalization of the main segment of the exchange. In terms of performance, since its launch until now, BET-EF has posted a correction of 5.40%. Since the beginning of the year, BET-EF has appreciated by 4.71%.
“The energy, utilities and financial sectors are the best represented sectors on the Bucharest Stock Exchange, with a share of over 50% of the total market capitalization. Less than a year after the launch of the dedicated sector index, BET-EF, we have the first ETF product on the exchange that tracks this index. The listing of Globinvest Energy & Financials ETF diversifies the ETF products that investors now have at their disposal on the BVB and offers them exposure to the Romanian capital market in an efficient way,” said Radu Hanga, President of the Bucharest Stock Exchange.
“Diversifying the products that investors can trade on the BVB is one of our goals. With the launch of the dedicated sector index, BET-EF, last summer, we wanted this index to become a reference point for retail investors and institutional investors who follow the market and need such benchmarks to build their investment portfolios. Today’s launch of the ETF that tracks this index, Globinvest Energy & Financials ETF, offers investors the opportunity to have exposure to the 11 most representative listed companies in three particularly important sectors of activity and, certainly, can contribute to increasing the number of investors on the exchange, as it has been observed that their appetite for trading fund units listed on the exchange has increased in recent years,” added Adrian Tănase, CEO of the Bucharest Stock Exchange.
Globinvest Energy & Financials ETF is launched by SAI Globinvest, a Romanian company with 30 years of experience in investment management, established in Cluj-Napoca. The net assets of the investment funds managed by SAI Globinvest total approximately 270 million lei. The initial assets of the ETF launched today total 2.2 million lei.
“We are honored to announce the launch of the Globinvest Energy & Financials ETF (symbol: GIBEFETF) — an innovative fund dedicated to investors seeking balanced and transparent exposure to strategic sectors of the local economy, directly through the Bucharest Stock Exchange. This moment marks Globinvest’s first entry into the exchange-traded funds (ETF) market, an important step in the evolution of our company and a confirmation of our commitment to offer investors modern, efficient and accessible products, adapted to international standards. Our collaboration with the Bucharest Stock Exchange to create the BET-EF index reflects our shared concern for the development of a solid and diversified capital market in Romania. Through this fund, we aim to offer investors a simple and robust solution for accessing the most relevant companies in the energy, utilities and financial sectors — sectors essential for the stability and growth of the Romanian economy,” said Nicolae Adrian Pastor, CEO of Globinvest.
The ETF benefits from the liquidity provider (market maker) services of IFB Finwest, which also handled the admission of the ETF fund units with the symbol GIBEFETF on the BVB Regulated Market.
