From Theory to Practice: Comstage ETF Basket
I am pleased to report that my latest research has found its way to the market: The Comstage ETF Basket Certificate, a Swiss public traded investment certificated listed on the Swiss Scoach Exchange under the ticker "CBETF" and ISIN number CH0109452513 issued by Commerzbank AG is the translation of my academic research into an investment product available to retail investors.
It is traded daily on the exchange exactly like a share or an ETF and had a starting price of 100.25 Swiss Francs per certificate. This allows also small investors to access a broad portfolio of stocks and commodities.
Together with Dominique Boehler of Commerzbank, I had been invited to discuss the launch of this product on "Stocks TV" (video in german)
This is the very first product listed on the Swiss Exchange (and as far as I know on any exchange) to combine commodities and shares as a way to reduce portfolio volatility and increase risk-adjusted returns.
As much of the material is in German, I have prepared an English translation of the article/summary available here for download
For German speaking students and visitors the original article, published in the Commerzbank magazine "Ideas" is available here for download
What exactly is inside the certificate? I have always been in strong support of transparent investment products and this certificate is entirely transparent. The composition and weighting is available in the official termsheet The initial issue size is 30,000 certificates (3 Million Swiss Francs) and can be bought in any quantity with a minimum of 1. The price per certificate was 100.25 Swiss Francs as issuing price (29 January) and has raised to a current 102.40 Swiss Francs.
I have prepared a dedicated website where you can even see the full composition - or export it in excel click here to visit the interactive website
This development is unique as very few researchers see their studies and academic ideas translating into traded investment products (I recall very few).
What makes it even more interesting is that this product will be used as an example in our Investment Management residential class starting next Monday.
Rest assured that we will discuss the product in future sessions too.
As always your comments are very much appreciated !
David
Reader Commentary
at 11:26 am
this is inspiring more so to the future marketing tools & product variety and lowering the votality of the market
at 02:28 pm
Dear Prof,
I personally wants to congratulate you on your enormous achievement.We need people like you to change the world.
Thanks.
at 02:23 pm
Dear Prof ,
This is a great work and is an envy to others to emulate your hard work.
All the best.
at 08:36 pm
Dear prof.Costa,i appreciate your effort in making this world a global village. I enjoy programmes that makes me think strategically and creatively be/c that's what we need right here in Nigeria to ensure our livelihood. I'll co-operate and collaborate with RKC.
at 08:36 pm
Dear prof.Costa,i appreciate your effort in making this world a global village. I enjoy programmes that makes me think strategically and creatively be/c that's what we need right here in Nigeria to ensure our livelihood. I'll co-operate and collaborate with RKC.
at 09:43 am
Thanks Prof for a job well done. I am a newly admitted MBA student at RKC but still hunting for sponsors to help me go through the course. How can I get the certificates in Botswana?
at 09:42 am
Thanks Prof for a job well done. I am a newly admitted MBA student at RKC but still hunting for sponsors to help me go through the course. How can I get the certificates in Botswana?
at 02:19 pm
I am so facinated by the ETF basket concept. Well done Prof. How do I purchase certificates from Kenya? I have longed to do an online MBA at RKC but it is too expensive for me. It would be so rewarding to understudy you Prof. I still await some miracle for the finances.
at 01:20 pm
Interesting!!! I am not yet a student at RKC but this examplary achievement has affected me positively . I am filling the online form this minute.
at 09:38 am
I wish to congratulte the prof. for this remarable achievement.
I'm not your student yet. but I wish to join you soon.
Thanks
at 05:35 pm
Dear Prof. Costa,
I am a new student at RKC and very glad to see the kind of work you are doing for finance professionals.
It is indeed a pleasure to be your student and learn from you.
Regards,
Tina
at 10:31 am
Hi am so glad for job u are doing
its so nice
the best thing in life is to share with other what you owe
if will so glad if i start my course at ur university
at 09:40 am
Weldone for a job well done, may God give you more knowledge, do do more exploits.
Am really motivated by your.
at 08:55 am
Iam fully motivated and pick interest to intergrate my skills,however infrastructures(internet) is still lagging here(S.Sudan)so I would not be able to study on line programme and again my current jOb require remote travelling to supervised construction work.
NEED YOUR ADVICE!
JULIUS
at 07:13 am
its the best,and ifeel ishould join the university to further my studies,if you can arrange for me for sponsorship or sent me alegitimate ;Latter to US embassy[NAIROBI KENYA] fo me to easily aquire visa,IWILL APPRECIATE
at 08:01 pm
congrats on this new achivement.
at 11:34 am
THANKS FOR YOUR SUPPORT. IT GIVES ME MORE PRESSURE, I AM MORTIVATED AND INSPIRED BY YOU
THANKS
at 09:49 am
congratulations !
I wish you a great success.
irena