The iShares MSCI Emerging Markets Index Fund has reached one billion shares outstanding, the first iShares fund to reach that milestone during the company’s ten-year history.
The ETF has grown almost 20 per cent in the past year with current assets under management of USD44bn and average daily trading volume of USD2.8bn.
“The iShares MSCI Emerging Markets Index Fund has more shares outstanding than any other ETF and is the first emerging markets ETF to reach one billion shares outstanding. Its growth underscores the broad utility investors continue to find using iShares products,” says Noel Archard, head of US iShares product at BlackRock. “Since the fund launched in 2003, EEM has provided institutional and retail investors and financial advisors with efficient and transparent access to emerging markets. The deep liquidity of EEM also results in low trading costs for all investors at all size trades, which can significantly lower total ETF costs.”
“MSCI is proud to have licensed our index to be used as the basis for such a successful product. We value our strong relationship with BlackRock and the long standing and widespread use of our indices throughout the iShares franchise,” adds Theodore Niggli, managing director at MSCI.