Euro sector ETFs launched
Barclays Global Investors has launched a range of exchange-traded funds based on European sectors. The new ETFs – branded iShares – will track four of Bloomberg’s new pan-European sector indices.
The products – iBloomberg European Technology, iBloomberg European Pharmaceuticals, iBloomberg European Telecoms and iBloomberg European Financials – are managed by Barclays Global Investors and available through stockbrokers.
The investment bank says that together with three existing iShares – iFTSE 100, iFTSE TMT and iFTSE ExUK – the new iShares give investors a choice of European and UK regional and sector-based ETFs.
iShares, says BGI, have the benefits of both shares and funds. Like a fund, they provide instant exposure to an entire market or sector index, but like the shares of any listed company, can be traded in during market hours.
John Demaine, iShares director at BGI said: “Investors are looking for attractive terms, simplicity, flexibility and transparency... iShares meet investors demands head on.”