BlackRock’s iShares Exchange Traded Funds business has launched three new single country iShares ETFs: the iShares MSCI Ireland Capped Investable Market Index Fund (EIRL); iShares MSCI Indonesia Investable Market Index Fund (EIDO); and iShares MSCI USA Index Fund (EUSA). All three began trading on the NYSE Arca on Friday 7 May.
"Through the addition of these three iShares MSCI single country funds financial professionals, institutions and individuals will now have expanded access to a relatively liquid global market," says Michael Latham, US Head of iShares at BlackRock. "These funds give investors the opportunity to take greater advantage of global growth and to more precisely implement their investment strategies. The use of MSCI indices provide useful building blocks within the larger iShares MSCI-based international product set."
The iShares MSCI Ireland Capped Investable Market Index Fund (EIRL) provides exposure and access to Ireland, a developed market economy where unemployment and consumer spending are stabilizing. The underlying index is a free-float adjusted market capitalization weighted index designed to measure the performance of the top 99% of equity securities listed on stock exchanges in Ireland. The top three sectors of the Index (as of 3/31/10) are materials (25%), consumer staples (23%) and industrials (18%).
The iShares MSCI Indonesia Investable Market Index Fund (EIDO) provides exposure and access to Indonesia, an emerging market economy with 2010 growth forecasts of 6.5%. The underlying Index is a free-float adjusted market capitalization weighted index designed to measure the performance of equity securities in the top 99 per cent by market capitalization of equity securities listed on stock exchanges in Indonesia. The top three sectors of the index (as of 31 March 2010 are financials (29%), energy (13%) and telecom (13%).
The iShares MSCI USA Index Fund (EUSA) broadens the existing suite of iShares US benchmarks. The underlying index is a market capitalization weighted index designed to measure the performance of equity securities in the top 85 per cent by market capitalization of equity securities listed on stock exchanges in the US. The top three sectors of the index (as of 31 March 2010 are technology (19%), financials (16%) and healthcare (12%).
