UK – iShares has announced the launch of four European sector based exchange-traded funds (ETFs) for UK clients.
The funds, managed by Barclays Global Investors (BGI), will track four new Bloomberg European sector indices - technology, pharmaceuticals, European telecoms and European financials.
As hybrids of unit and investment trusts, ETFs can be traded during market hours and also provide exposure to a whole market or sector.
“ Experience in the US has seen soaring popularity in ETFs, with over US$70bn invested. “ Investors are increasingly looking for attractive terms, simplicity, flexibility and transparency,” says John Demaine, director at iShares.
Available from February 12, the funds will join the UK series of FTSE tracking funds set up earlier by iShares.
They can also be included in individual savings accounts (ISAs).
The funds will be listed on the London Stock Exchange’s extraMARK and on Euronext’s NextTrack.
Bank of Ireland acts as custodian and administrator of the investments.
iShares is an open-ended investment company (oeic) regulated by the Central Bank of Ireland and recognised by the UK Financial Services Authority.