Luxembourg, November 16, 2010 Brown Brothers Harriman (BBH) and XACT Fonder (XACT), a wholly owned subsidiary of Svenska Handelsbanken (Handelsbanken), announced today that BBH has been selected to provide global custody, accounting, administration and primary market transfer agency for the newly launched XACT ETFs.

The XACT ETF platform is an open-ended collective investment company (SICAV) established under the laws of the Grand-Duchy of Luxembourg with an umbrella structure comprising of different sub-funds and classes. Each sub-fund is an ETF and is listed for trading on NasdaqOMX Stockholm. Shares of each ETF are bought and sold in the secondary market in the same manner as ordinary shares of a listed trading company.

“BBH enjoys a longstanding relationship with Handelsbanken and we are thrilled to be partnering with XACT to support this important Luxembourg ETF platform,” said Shawn McNinch, Global Head of ETF Services at BBH. “These ETFs represent a close collaboration between BBH and XACT from product inception to successful launch.”

“I am delighted to work together with BBH on our new ETF structure in Luxembourg. This will enable us to maintain our position as the leading Nordic ETF provider,” said Henrik Norén, Managing Director, XACT.

BBH has an established expertise in domestic and international equity, fixed income, leveraged/inverse, and commodity ETFs. The Firm is one of the largest ETF custodians in the US1, working with eleven ETF issuers globally, including three out of the top five US ETF sponsors2, representing over 80 exchange traded vehicles. BBH’s dedicated ETF team provides consultative services and assists in managing new product launches for both registered and non-registered exchange traded funds and products.

About Brown Brothers Harriman

Brown Brothers Harriman (BBH) is a privately-held financial services firm that partners with its clients to provide independent and specialized solutions across its Investor Services, Banking & Advisory, and Investment & Wealth Management businesses. For nearly 200 years, the Firm’s partnership structure and flat organization has produced a culture of independent thinking and alignment of interests with its clients, creating lasting relationships built on a foundation of integrity, experience, and trust. BBH’s Investor Services business provides cross border custody, accounting, administration, and execution services in close to 100 markets for many of the world’s leading asset managers and financial institutions. With approximately $2.6 trillion in assets under custody3, BBH is consistently ranked among the world's top global custodians, asset administrators, foreign exchange, and securities lending providers4. For more information about BBH's unique, integrated approach, please visit

About XACT Fonder

XACT is the largest issuer of ETFs on the Nordic market and currently manages SEK 20 billion in 21 ETFs. XACT was founded in 2000 and launched their first ETF, XACT OMXS30, the same year. In 2004, the company was acquired by Handelsbanken and has since then been a wholly owned subsidiary of Handelsbanken. XACT was the first issuer in the world to offer leveraged ETFs with XACT Bull and XACT Bear, launched in 2005. The daily turnover in XACT ETFs averages around SEK 1 billion.

1 Based on industry estimates.

2 Morningstar, December 31, 2009

3 As of September 30, 2010

4 As measured by results in major industry surveys. Please see for a comprehensive listing of recent industry accolades.

BBH is a registered service mark of Brown Brothers Harriman & Co. in the United States and other countries.