Bank DNB switches US, Europe mutual funds to index tracking [Reuters]
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Source: Reuters
Bank DNB switches US, Europe mutual funds to index tracking | Reuters Reuters Staff 1 Min Read OSLO, Aug 14 (Reuters) - Norwegian bank DNB will switch its mutual funds for U.S. and European stocks to index tracking from active management on Aug. 16, it said on Tuesday. “The market’s demand is for broad, index-based strategies,” DNB said in a statement, adding that it would cut fees as a result. While the European fund currently holds assets of close to $100 million, the U.S. fund holds around $39 million, the bank said on its website. Before the switch, the U.S. fund’s top investments were in Alphabet, Anadarko Petroleum and Bank of America, while the European fund’s largest holdings were in Roche, Novartis and Shell. $1 = 8.3606 Norwegian crownsReporting by Terje Solsvik, editing by Gwladys Fouche All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays. © 2018 Reuters. All Rights Reserved. Bank DNB switches US, Europe mutual funds to
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