Active ETFs launch in France

This week saw the news that, as our Paris-based correspondent, Romain Thomas, put it, The Financial Markets Authority (AMF) by an order from the Minister of the Economy, Finance and Industrial and Digital Sovereignty published in the Official Journal, now allows to list active ETFs on the Paris Stock Exchange, operated by the pan-European stock exchange Euronext.

Since the launch of the first French ETF in 2001, the Monetary and Financial Code in France has provided for the possibility of admitting shares of a collective investment on a regulated market, only if this ETF replicates an index and responds to systematic and non-discretionary management. The development will encourage growth in active ETFs in France, with leading French ETF issuers queuing up to launch their existing active ETF range on Euronext in Paris.

We also have news this week from Luxembourg, where the recent ALFI conference heard a proposal to offer tax breaks on active ETFs.

Far from Paris and Luxembourg, Fiona Nicolson reported on the Lone Star State’s Texas Capital, which is where ETF veteran Ed Rosenberg has landed as managing director, head of ETF & funds management. 2023 saw the firm launch three ETFs focused on their home state but Rosenberg tells her that plans are afoot to strategically broaden the range within the Lone Star State.

Nominations for Canadian ETF service providers are still open – place your nominations now, using this link.

Voting for Canadian ETF issuers, shortlisted using data from our data partners Trackinsight, and the winning nominees from the service providers, will open on 15th April.

Beverly Chandler, Managing Editor

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