"We are extremely pleased to continue our strong partnership with BGI to bring new ETFs to market," said Cliff Weber, senior vice president of the Amex's ETF Marketplace. "EEM provides investors an opportunity to invest in global emerging markets in one convenient transaction." The new iShares Emerging Markets Index Fund brings the total number of iShares listed on the Amex to 78.
The iShares MSCI Emerging Markets Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Emerging Markets Free Index. EEM will have an expense ratio of 0.75%. LaBranche & Co. will serve as Specialist for EEM, the first iShares product for the firm.
The MSCI Emerging Markets Free Index was developed by Morgan Stanley Capital International Inc. as a benchmark for equity market performance in the global emerging markets. The Fund will concentrate its investments in a particular industry or geographic region to approximately the same extent the Index is so concentrated. In order to improve its portfolio liquidity and its ability to track the Index, the Fund may invest up to 10% of its assets in shares of other iShares Funds that invest in securities in the Index.
The Fund's top portfolio holdings can be found at www.iShares.com. Fund fact sheets provide information regarding the Fund’s top holdings and may be requested by calling 1-800-iShares.
Today's listing brings the total number of ETFs listed on the Amex to 124.
