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Northern Trust launches first US-listed ETF tracking Irish index


Northern Trust Global Investments, the asset management arm of Northern Trust, has launched the first US-listed exchange-traded fund tracking the ISEQ 20 Index, the leading investment benc

Northern Trust Global Investments, the asset management arm of Northern Trust, has launched the first US-listed exchange-traded fund tracking the ISEQ 20 Index, the leading investment benchmark for investing in Irish companies.

Nets ISEQ 20 Index Fund (Ireland), which is traded on NYSE Arca, enables US investors to invest in an ETF tracking the 20 Irish securities comprising the index for the first time.

The fund is the latest in a series of 15 Nets (Northern Exchange Traded Shares) ETF products launched by Northern Trust that aim to give investors exposure to leading international equities indices via shares traded on US exchanges.

‘This latest launch is further confirmation of our commitment to providing investors with unparalleled direct access to attractive overseas markets,’ says Steven A. Schoenfeld, chief investment officer for Northern Trust’s global quantitative management group.

‘US investors now have the opportunity to participate in the Irish stock market, giving them greater portfolio diversification and access to a market with strong growth potential.’

Northern Trust says the launch of the ETF reflects Ireland’s continued economic growth and emergence as one of the most affluent member states of the European Union through major growth in investment and trade, a transformation of its infrastructure and the growth of its employment market, driving wealth creation and enhancing the country’s attractiveness for foreign direct investment.

‘The Nets ISEQ 20 Index Fund and the other 14 Nets ETFs launched to date aim to provide investors with the most efficient and targeted exposure to global equity markets,’ says Peter K. Ewing, head of Northern Trust’s ETF business. ‘We will continue to identify opportunities to expand our ETF product suite to give investors unique international investment opportunities.’

Previous Nets ETF launches so far this year on NYSE Arca comprise the TA-25 Index Fund (Israel), Hang Seng Index Fund (Hong Kong), Topix Index Fund (Japan), Cac40 Index Fund (France), AEX Index Fund (Netherlands), Bel 20 Index Fund (Belgium), PSI 20 Index Fund (Portugal) and Hang Seng China Enterprises Index Fund.

In addition, Northern Trust has listed the FTSE 100 Index Fund (UK), Dax Index Fund (Germany), S&P/ASX 200 Index Fund (Australia), S&P/MIB Index Fund (Italy), FTSE/JSE Top 40 Index Fund (South Africa) and FTSE Singapore Straits Times Index Fund on the American Stock Exchange.

Northern Trust’s ETF business is managed under the global quantitative management group headed by Michael A. Vardas, while Chad Rakvin heads the team of portfolio managers who oversee Nets investment portfolios. As of March 31, Northern Trust had assets under custody of USD4trn and assets under investment management of USD778.6bn.

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