Industry Updates

Russia’s first ETF provider replaces MSCI benchmarks with Solactive

George Geddes

a castle with a clock tower

FinEx ETF, Russia’s first ETF provider, has undergone a transformation for seven of its ETFs as it switches its benchmarks from MSCI to the German-based index provider Solactive.

Following the transition, Solactive provides a total of eight out of twelve indices used as the underlying benchmark by the Russian ETF promoter. The eight ETFs have a sum of nearly $140m assets under management.

The established index provider MSCI was replaced by Solactive due to its developed Global Benchmark Series available at a significantly lower cost.

ESMA registers Solactive as benchmark administrator under BMR

The eight ETFs from FinEx, which use Solactive indices as benchmarks and are listed on the Moscow Exchange, include:

  • FinEx Cash Equivalents UCITS ETF (FXMM)

  • FinEx Australia UCITS ETF (FXAU)

  • FinEx China UCITS ETF (FXCN)

  • FinEx Germany UCITS ETF (FXDE)

  • FinEx Japan UCITS ETF (FXJP)



  • FinEx USA Informational Technology UCITS ETF (FXIT)

FinEx launched its first ETF in Russia back in 2013 and has since listed two fixed income ETFs, one commodity ETF and nine equity ETFs including the world’s first Kazakhstan equity ETF.

Simon Luhr, director of FinEx Funds, said in a statement: “Following a comprehensive review of the index provider marketplace, we chose to expand our relationship with Solactive for a range of equity indices as they provide an excellent service for a very competitive fee.

“Solactive’s Global Benchmark Series gives us the exact exposures we need for our range of ETFs, and we are very excited about the future growth of our respective businesses.”

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