Asset Management: A derivatives approach to index tracking
Determined not to be left behind by its main European competitors, the Swiss stock exchange has just opened SWX New Market, specially tailored to provide medium-size high-growth companies with easier access to equity funding.
Although the small-company sections of most exchanges favour hi-tech and telecommunications companies, the nature of the Swiss economy gives it a bias towards biotech, medical technology, nutrition and pharmaceuticals. “In Switzerland,” explains Michael Stäheli, member of the executive board of the Swiss Stock Exchange, “we have pharmaceuticals giants such as Novartis and Roche and that has created two main effects.
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