- 3 min
Paris, October 22nd 2008
Recognised internationally for its structured products and managed account platform, Crédit Agricole Structured Asset Management (CASAM) has unveiled its ambition to become a major player in the European ETF market by launching 10 new equity ETFs on Euronext Paris for distribution in France. The products launched are the first of a series which aims to build a wide product range offering investors the opportunity to gain, through a single low cost transaction, exposure to all geographic zones and asset classes.
Fathi Jerfel, Chief Executive Officer of CASAM, commented: “In line with the development plan announced at it creation, CASAM is well on track with its efforts to broaden its product offering. We wish to offer institutional investors ETFs in all the main asset classes. We have great ambitions for this market which is experiencing very strong growth. By 2011, our aim is to reach EUR 10 billion in assets under management.”
Valérie Baudson, Managing Director, responsible for ETF development at CASAM, added: “With this product launch, we are offering our clients simple, liquid and transparent access to equities across Europe. CASAM ETFs represent a competitive product offering for which annual management fees are among the lowest in the market. Through this positioning, the Crédit Agricole group intends to win significant market share rapidly in this fast-growing industry.”
The CASAM ETF product range is being distributed by a dedicated sales team at CA Cheuvreux as well as through the sales network of Crédit Agricole Asset Management. François Simon, Chief Executive Officer of CA Cheuvreux affirms: "Our sales and execution teams are all mobilised to offer our clients a promising range of ETFs that will contribute to the performance they are seeking."
Quoted on NextTrack, the segment on Euronext dedicated to ETFs, CASAM's ETFs can be traded at any time during market hours through a financial intermediary, bank or broker: “We are very pleased to see Crédit Agricole develop in the ETF space through NYSE Euronext which will help the market's future development” says Lisa Dallmer, Senior Vice President, Global Index and Exchange Traded Products, NYSE Euronext. “CASAM's new ETFs enlarge our offer in terms of indices focused on European countries”