New BET ETF to launch on Bucharest Stock Exchange

The BET-TRN UCITS ETF will start trading on the BVB on May 29, 2024 under the symbol ICBETNETF, InterCapital and Investimental said in a joint press release last week.

The new ETF will track the performance of the BET-TRN index, which includes twenty Romanian blue-chip companies such as Banca Transilvania [BSE:TLV], Hidroelectrica [BSE:H2O], OMV Petrom [BSE:SNP], and Digi Communications [BSE:DIGI]. The BET-TRN or “Total Return Net” index reflects both stock price changes and reinvested net dividends.

The price of one ETF share on the debut trading day will be around 70 lei ($15.2/14 euro).

Investimental, which acts as market maker for the ETF, will offer clients a lowered trading fee for an undetermined period. Investors can purchase the ETF at a reduced trading commission of 0.26%, along with the standard financial supervision authority (ASF) commission of 0.04%.

Since the start of 2024, the BET-TRN index increased by 16.45%, surpassing the S&P 500 and STOXX Europe 600, propelled by strong performances from both defensive stocks and entrepreneurial companies within the index.

(1 euro=4.9744 lei)