Investors in France tap its luxury goods market

Article Excerpt

The May 2017 election of Emmanuel Macron as France’s new president promised a turnaround for the French economy. Despite some early successes, the COVID-19 pandemic slowed progress on the economic front. But the long-term outlook for the economy is positive as it continues to recover in a post-pandemic world. France is home to several of the top luxury goods companies in the world. The ETF discussed below includes some of these high-quality businesses. See also the box on page 116 for further information on luxury goods and stocks. ISHARES MSCI FRANCE ETF $39.81 (New York symbol EWQ; TSINetwork ETF Rating: Aggressive; Market cap: $727.6 million) tracks the performance of the largest publicly listed French companies. The ETF holds a well-diversified portfolio of 70 stocks. Industrials account for 23% of its assets, while Consumer Cyclicals (19%), Consumer Defensive (11%), Financials (11%), and Healthcare (11%) are other key segments. The fund’s largest 10 holdings make up 51% of its assets. They are LVMH (luxury goods, 10.9%), Total SA…

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