BlackRock, Inc. (NYSE:BLK) is continuing to expand its iShares line of exchange traded funds in Canada, with the launch of six new funds that offer investors increased access to emerging markets and U.S. fixed income markets.
The funds, which are managed by BlackRock Asset Management Canada Ltd., began trading on the Toronto Stock Exchange on Wednesday.
The six new iShares Canada ETFs include:
• iShares MSCI Brazil Index Fund (TSX:XBZ), with a management ratio of 0.75%, and which seeks to provide long-term capital growth by replicating, to the extent possible, the performance of the MSCI Brazil Index, net of expenses.
• iShares S&P Latin America 40 Index Fund (TSX:XLA), with a management ratio of 0.65%, and which seeks to provide long-term capital growth by replicating, to the extent possible, the performance of the S&P Latin America 40 Index, net of expenses.
• iShares CNX Nifty India Index Fund (TSX:XID), with a management ratio of 0.98%, and which seeks to provide long-term capital growth by replicating, to the extent possible, the performance of the S&P CNX Nifty Index, net of expenses.
• iShares China Index Fund (TSX:XCH), with a management ratio of 0.85%, and which seeks to provide long-term capital growth by replicating, to the extent possible, the performance of the FTSE/Xinhua China 25 Index, net of expenses.
• iShares U.S. IG Corporate Bond Index Fund (CAD-Hedged) (TSX:XIG), with a management ratio of 0.30%, and which seeks to provide income by replicating, to the extent possible, the performance of an index which is a diversified representation of the USD-denominated investment grade corporate bond market, net of expenses. XIG intends to hedge any currency exposure to the U.S. dollar to Canadian dollars. Currently, XIG seeks to replicate the performance of the Markit iBoxx USD Liquid Investment Grade Index.
• iShares U.S. High Yield Bond Index Fund (CAD-Hedged) (TSX:XHY), with a management ratio of 0.6%, and which seeks to provide income by replicating, to the extent possible, the performance of an index which is a diversified representation of the USD-denominated high yield corporate bond market, net of expenses. XHY intends to hedge any currency exposure to the U.S. dollar to Canadian dollars. Currently, XHY seeks to replicate the performance of the Markit iBoxx USD Liquid High Yield Index.
“As markets continue to stabilize, investors are revisiting their risk threshold,” said Heather Pelant, managing director and head of iShares Canada at BlackRock Asset Management Canada Limited. “Four of our funds offer a cost-efficient way of gaining targeted exposure to growth-oriented emerging market countries. The U.S. bond ETFs address investors’ needs for more sophisticated income generating products.”
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iShares Canada launches six new ETFs
New ETFs provide exposure to emerging markets, U.S. bonds
- By: Megan Harman
- January 27, 2010 January 27, 2010
- 15:54