London Stock Exchange welcomes Zyfin
The London Stock Exchange today welcomes ZyFin Holdings as it lists the world’s first TURKISH SOVEREIGN LADDERED BOND ETF on the Main Market.
ZyFin Funds through its unique asset management platform is making investing in high growth but difficult to access emerging markets seamless and efficient through innovative investment solutions.
ZyFin is today listing the LAM Alternatif ZyFin Turkey Sovereign Bond UCITS ETF, the world’s first Turkish Sovereign Laddered Bond ETF. The investment policy of the Fund is to closely track the performance of the ZyFin Turkey Sovereign Bond Laddered Index through physical replication making it more efficient.
The LAM Alternatif ZyFin Turkey Sovereign Bond UCITS ETF offers exposure to Turkish government bonds across various maturities and having a total outstanding amount of greater than 100 million Turkish Lira (TRY). The bonds comprising the underlying index are divided into three baskets, with a residual maturity of closest to 2, 5 and 10 years respectively with each basket comprising two bonds.
The Fund was admitted to the Main Market on 8th June trading under the ticker ‘TURK’ – for trading in USD – and the ticker ‘TRKY’ – for trading in GBX.
Sanjay Sachdev, Executive Chairman of ZyFin, said: “We are delighted to see the listing of LAM Alternatif ZyFin Turkey Sovereign Bond UCITS ETF on the London Stock Exchange offering, for the first time to foreign investors, the opportunity to access Turkish government bonds in a transparent and cost efficient wrapper. Turkey remains an investment grade destination and has enjoyed sustained GDP growth over the past 16 years with forecasts indicating continued growth of 3.5% in 2016. With research insights from ABank and backed by our expertise in asset management we have structured this attractive investment solution for investors who wish to participate in the growth momentum that we believe will unfold in Turkey. We look forward to a long relationship with the London Stock Exchange as we bring a suite of innovative investment products to the market.”