The world's first infrastructure ETF was launched in November 2006, and it remains the only one in Europe, according to iShares' COO Tim West. The iShares FTSE/Macquarie Global Infrastructure 100 ETF is a special index constructed by FTSE and advised by leading infrastructure investor Macquarie Bank of Australia. The index holds companies whose predominant business is the running or ownership of infrastructure, for example, a utility company, owning either power generation or power distribution capabilities such as National Grid in the UK. It also includes companies that, particularly in Spain, own and manage toll roads, bridges or tunnels and receive an income stream from that activity. West says: "It's a very fast-growing fund. If you look at the history of ETF launches in Europe, this must be one of the quickest out of the blocks. The fund today is $313m (€231m), which is a phenomenal asset total for a fund that has only existed for six months. We launched this infrastructure ETF because it's our goal as Barclays Global Investors to deliver investment solutions to our clients through ETFs. And infrastructure is an area where we felt there was strong demand for an ETF solution."