Optimized Portfolio As Listed Securities - OPALS

AAA

DEFINITION of 'Optimized Portfolio As Listed Securities - OPALS'

A set of exchange-traded funds, created by Morgan Stanley in 1994, that trades on the Luxembourg Stock Exchange. Optimized Portfolio as Listed Securities (OPALS) are available for many of the different Morgan Stanley Capital International (MSCI) indexes. They are generally unavailable to the majority of U.S. investors, because they are not registered with the SEC. Certain OPALS allow U.S. institutional investors to participate; however a $100 million minimum investment is required.

INVESTOPEDIA EXPLAINS 'Optimized Portfolio As Listed Securities - OPALS'

OPALS are often seen as one of several predecessors to the introduction of exchange-traded funds in the U.S. OPALS were introduced on the Luxembourg Stock Exchange because its less restrictive rules allowed Morgan Stanley to offer the shares to retail investors. In 1996, Morgan Stanley introduced World Equity Benchmark Shares (WEBS). These were SEC-registered units, similar to OPALS and available to U.S. retail investors.

RELATED TERMS
  1. Tracker Fund

    An index fund that tracks a broad market index or a segment thereof. ...
  2. Exchange-Traded Fund - ETF

    A security that tracks an index, a commodity or a basket of assets ...
  3. Asset Management

    1. The management of a client's investments by a financial services ...
  4. Hedge Fund

    An aggressively managed portfolio of investments that uses advanced ...
  5. Index

    A statistical measure of change in an economy or a securities ...
  6. Index Fund

    A type of mutual fund with a portfolio constructed to match or ...
Related Articles
  1. Achieving Optimal Asset Allocation
    Investing Basics

    Achieving Optimal Asset Allocation

  2. Introduction To Fundamentally Weighted ...
    Mutual Funds & ETFs

    Introduction To Fundamentally Weighted ...

  3. 4 Ways To Use ETFs In Your Portfolio
    Mutual Funds & ETFs

    4 Ways To Use ETFs In Your Portfolio

  4. Active Vs. Passive ETF Investing
    Mutual Funds & ETFs

    Active Vs. Passive ETF Investing

comments powered by Disqus
Hot Definitions
  1. Certificate Of Deposit - CD

    A savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate ...
  2. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  3. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
  4. Ratio Analysis

    Quantitative analysis of information contained in a company’s financial statements. Ratio analysis is based on line items ...
  5. Days Payable Outstanding - DPO

    A company's average payable period. Calculated as: ending accounts payable / (cost of sales/number of days).
  6. Net Sales

    The amount of sales generated by a company after the deduction of returns, allowances for damaged or missing goods and any ...
Trading Center