Vanguard has launched an exchange traded fund (ETF) tracking Germany’s 30 largest companies.
The Vanguard DAX Ucits ETF will charge 0.1% ongoing fund charges (OCF) and will be listed on the London Stock Exchange.
The launch coincides with the 30th anniversary of the DAX Index.
Vanguard's Europe ex-UK distribution boss Thomas Merz said: ‘The Vanguard DAX Ucits ETF is designed to help investors putting together high-quality, balanced, diversified portfolios; whether that’s domestic investors looking for exposure to their home market, or investors’ across Europe recognising the opportunities provided by Europe’s largest economy.’
In June, Vanguard opened its first office in Germany, based in Frankfurt, on the back of the listing of Vanguard’s full European Ucits ETF range on Deutsche Börse in October 2017.
Meanwhile, Vanguard has beefed up its European capabilities with several senior ETF hires this year, including; the appointment of Simone Rosti as head of Italy, the hiring of Markus Weis as deputy head of Germany and Austria, and Liz Wright, Christophe Collet, and Rahul Thrakar joining as senior ETF specialists, and Gregoire Blanc as senior ETF capital markets specialist.