Kiwi Anyone? iShares Brings First New Zealand ETF to Market
Thursday, September 2nd, 2010ETF Database submits:
With equity markets declining in much of the developed world, many investors have put a greater focus on stable commodity-producing economies that seem to have weathered the recent downturn better than most. Countries such as Australia and Canada come to mind as markets that have been able to grow thanks to vast natural resources for which there is huge demand from rising powers such as India and China. Despite this focus on developed market exporters, one of the world’s most important and unique economies remained without its own country-specific ETF…at least until today.
iShares announced today the launch of the MSCI New Zealand Investable Market Index Fund (ENZL), the first ETF offering pure play exposure to the land of the Kiwis. ENZL will track the MSCI New Zealand Investable Market Index, a free-float adjusted market capitalization weighted benchmark designed to measure the performance of equity securities in the top 99% by market capitalization of the equity securities listed on stock exchanges in New Zealand. “The iShares MSCI New Zealand Investable Market Index Fund provides financial professionals, institutions and individuals first-to-market access to a developed country in the midst of a strong economic recovery,†said Noel Archard, Head of US Product at iShares, BlackRock. “As the trend for international investing via single countries increases, the new iShares fund further enhances our large single country iShares ETF lineup. Investors are increasingly interested in the precision of single country investing to implement international-focused investment strategies.â€Â
