Lloyd Capital listed the Lloyd International Equity UCITS ETF (ticker: OTUS) on Xetra with effect from 1 April 2026
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Article created by the editorial staff of ETFWorld.co.uk
Soler Moritz, CEO of Lloyd Capital
The new product tracks the Solactive Lloyd International Equity Index and focuses exclusively on companies listed outside the United States.
The Swiss issuer Lloyd Capital, in collaboration with white-label provider HANetf, is bringing its third equity strategy to the German market in UCITS ETF format. The previous products, the Lloyd Focused Equity UCITS ETF (FEP) and the Lloyd Growth Equity UCITS ETF (GEP), launched in 2024, manage approximately $292 million and $296 million in assets respectively.
Strategy and stock selection
The new ETF deliberately excludes US companies. The aim is to offer investors exposure to companies considered to be of high quality in developed markets outside the US, with a focus on Europe, China and Canada, which accounted for around two-thirds of the exposure at the time the strategy was launched.
The selection process is based on stringent quantitative criteria. To be included in the underlying index, companies must:
- have a minimum average market capitalisation of $3 billion over the last six weeks;
- have reported annual revenues of at least $10 million over the last five financial years;
- have a long-term debt-to-EBITDA ratio of less than 3;
- operate outside the financial sector, subject to exceptions provided for in the methodology.
These parameters are supplemented by the qualitative analysis developed by Lloyd Capital, summarised in the ‘four M’ framework: Moat (competitive advantage), Management, Market and Macro (macroeconomic environment).
Technical characteristics of the product
The ETF employs passive management with physical replication and accumulates dividends. The fund is domiciled in Ireland and the TER is set at 0.85%.
The listing on Xetra represents the main European listing. A cross-listing on the Mexican Stock Exchange is also planned.
The benchmark index, the Solactive Lloyd International Equity Index CNTR, is rebalanced on a monthly basis. The portfolio is concentrated, with a limited number of positions selected for their long-term value creation potential.
Context and positioning
Lloyd Capital manages approximately $2 billion in assets, primarily for institutional investors based in Mexico. The firm’s approach has its roots in separately managed accounts (SMAs), a tradition that the boutique subsequently transferred to the ETF format from 2024 onwards.
The launch comes at a time when the concentration of global indices on US equities has reached historically high levels, with a weighting ranging between 60% and 70% in indices such as the MSCI World. The strategy is aimed at investors seeking structural geographical diversification, reducing their dependence on the performance of the US market.
Source : ETFWorld.co.uk
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