Source, the ETF provider being acquired by Invesco, said its new European equity product is 33% cheaper than the lowest cost competing fund.
The Source MSCI Europe ex-UK Ucits ETF has an ongoing charge of 0.2% per annum making it “significantly cheaper” than competing ETFs.
It provides diversified exposure to large and medium sized companies across 14 developed market economies.
The firm said European equities had been one of the “top picks” of its multi-asset research team since early in the year.
“The market has strengthened but still looks undervalued relative to long-term averages. Investors wanting exposure in this area have several options from which to choose, and the uncertainty around the outlook for the UK, given last week’s election result, will cause some to consider whether their chosen index includes it or not.”
Source said the ETF was the latest addition to its range of core portfolio funds, which aim to provide efficient, low-cost exposure to popular benchmarks.
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