Fresco Index Shares, a unit of UBS AG, said this week that the SEC has approved its bid to distribute new exchange-traded funds in the U.S.

The Fresco ETFs are expected to begin trading Oct. 21 on the New York Stock Exchange. They are based on the Dow Jones Stoxx 50 and the Dow Junes EURO STOXX 50 indices, which UBS says are the most widely recognized proxies for European and Euro zone markets.

UBS introduced a similar series of Fresco ETFs in Europe nearly a year ago and had raised US$387 million in assets as of July 31 of this year, the firm said.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.