European fixed income specialist Tabula Investment Management has entered the Swiss market with the cross-listing of its five ETFs on Bern’s BX Swiss exchange.
Michael John Lytle, CEO of Tabula Investment Management.
The firm debuted its first ETF in September 2018 on the London Stock Exchange and has sought to disrupt the fixed income ETF market by launching strategies that were previously only accessible to institutional investors.
Its roster of products includes leveraged investment grade credit, long and short high yield credit, and credit volatility premia ETFs.
“Through ETFs, we are focused on delivering a wide range of fixed income factors that were previously only available to sophisticated investors,” said Tabula CEO Michael John Lytle.
“As investor appetite grows, we believe there is a real need for a comprehensive range of fixed income tools that help manage investor exposure and express their market views. We are excited to be able to offer these products into the local Swiss market.”
Harald Schnabel, CEO of BX Swiss, added, “The addition of Tabula’s fixed income ETFs significantly expands the variety of products already available for trading in Switzerland and with this in mind, we extend a warm welcome to our new ETF issuer on BX Swiss AG. With Tabula, we have gained a very promising new European ETF provider.”
The listings on BX Swiss, outlined below, represent the first time that Tabula’s ETFs have been listed outside of London.
The funds
The Tabula European Performance Credit UCITS ETF (TCEP SW) provides long exposure to European credit through direct access to the corporate credit default swap (CDS) market. It tracks the iTraxx European Performance Credit Index which represents selling protection on both investment grade and high-yield issues. The fund’s ongoing charge is 0.50%.
The ETF is also available in a distributing share class on BX Swiss under the ticker TCED SW.
The Tabula European iTraxx Crossover Credit UCITS ETF (TECC SW) targets long exposure to European high yield credit via selling protection on the iTraxx Crossover 5y Index. Its ongoing charge is 0.40%.
The Tabula European iTraxx Crossover Credit Short UCITS ETF (TECS SW) offers short exposure to European high yield credit via buying protection on the iTraxx Crossover 5y Index. Its ongoing charge is 0.50%.
The Tabula JP Morgan Global Credit Volatility Premium Index UCITS ETF (TVOL SW) provides a passive vehicle for capturing the difference between realized and implied volatility in CDS index options markets. The fund tracks the JP Morgan Global Credit Volatility Premium Index, and its ongoing charge is 0.50%.
The ETFs can be traded daily on BX Swiss from 9.00 am to 5.30 pm. Lang & Schwarz Tradecenter has been appointed as market maker for the funds.