SI UCITS ETF - UC Refinitiv European Convertible Bond UCITS ETF
ECBD.DE
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- SI UCITS ETF - UC Refinitiv European Convertible Bond UCITS ETF (ECBD.DE) is a Luxembourg-domiciled UCITS-compliant exchange-traded fund that seeks to replicate the performance of the Refinitiv Monthly Europe Focus Convertible Index, a total return benchmark tracking the balanced investable European convertible bond market. The ETF employs a synthetic replication strategy via an unfunded swap mechanism, fully collateralized at 105% and managed by Structured Invest S.A., with CACEIS Bank Luxembourg Branch serving as custodian; its total expense ratio stands at 0.75% per annum, comprising a 0.50% management fee and 0.25% index replication fee. Launched on May 18, 2015, with an initial NAV of EUR 100, the accumulating share class (ISIN: LU1199448058; WKN: A14PYG) trades primarily on Deutsche Boerse Xetra (ECBD GY) and Borsa Italiana (ECBD IM) in EUR, targeting institutional and retail investors seeking exposure to European convertible bonds across sectors like industrials, retail/wholesale, pharmaceuticals, and electronics, with geographic focus on Germany (33%), France (26%), UK (12%), Italy (9%), and others; the index features 69 constituents, average maturity of 3.2 years, delta of 43.6, and individual issuer caps at 8%. As of late 2022 data, fund assets approximated EUR 28-43 million, with top holdings including EDF (6.25%), KPN (5.34%), Safran (2.75%), TotalEnergies (2.66%), and Deutsche Post (2.40%), predominantly EUR-denominated (71%) alongside USD (17%), GBP (9%), and CHF (3%). No major recent partnerships, acquisitions, funding rounds, product launches, or strategic shifts have been publicly announced for the ETF or its management entity within the last 1-2 years; it remains part of UniCredit's specialized ETF offerings under the SI UCITS ETF umbrella, distributed in Austria, France, Germany, Italy, and Luxembourg, with ongoing monthly rebalancing and quarterly index reviews to reflect market dynamics.