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Barclays Global Investors launches three iShares Russell ETFs

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Barclays Global Investors has introduced the iShares Russell Top 200 Index Fund, iShares Russell Top 200 Growth Index Fund and iShares Russell Top 200 Value Index Fund on the New York Stock Exchange.

The funds seek to provide targeted access to the largest companies within the large cap equity asset class.

The Russell Top 200 Index is a subset of the Russell 1000 Index and includes approximately 200 of the largest securities based on a combination of their market cap and current index membership, comprising approximately 65 per cent of the US market.

"With the addition of the iShares Russell Top 200 Funds, individuals, financial professionals and institutions can now specifically target the largest portion of the Russell 1000 Index, enhancing their asset allocation and portfolio management opportunities," says Michael Latham, co-chief executive of iShares at BGI. "We are excited to expand our current US equity product set in response to investor demand, and as always, will continue to evaluate opportunities to provide access to new segments of the market."

The iShares Russell fund series now totals 16, which include funds that track the Russell 1000, Russell Midcap, Russell 2000 and Russell 3000 indexes along with each of their corresponding value and growth indexes, plus the Russell Microcap.

"The methodology behind Russell’s equity indexes has proven to be a very effective tool as the underlying benchmarks for exchange-traded funds," says Ron Bundy, managing director for indexes at Russell Investments. "These new iShares ETFs further enhance the flexibility of investors to manage US equity exposure through a fully modular product set, as the Top 200 index family combined with the Russell Midcap index family are equivalent to the Russell 1000 universe."

The Russell Top 200 Growth Index measures the performance of the largest 200 stocks in the US equity universe, as measured by market cap, that exhibit growth characteristics. It includes Russell Top 200 Index companies with higher price-to-book ratios and higher forecasted growth values. The stocks also are members of the Russell 1000 Growth Index.

The Russell Top 200 Value Index measures the performance of the largest 200 stocks in the US equity universe, as measured by market cap, that exhibit value characteristics. It includes Russell Top 200 companies with lower price-to-book ratios and lower forecasted growth values. The stocks also are members of the Russell 1000 Value Index.

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