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Northern Trust Global Investments (NTGI), the asset management arm of Northern Trust, announced yesterday the launch of an ETF tracking the TA-25 index, the leading index of shares traded on the Tel Aviv Stock Exchange (TASE). This is first time that American investors are offered the opportunity to invest in an ETF tracking the TA-25, which will be traded on the New York Stock Exchange (ticker: TAV).
NTGI’s new Israeli ETF enables both institutional and retail investors in the U.S. access to the stocks included in the TA-25 index and gives American investors the opportunity to invest in the Tel Aviv Stock Exchange. Acquisition of “TAV” shares by investors represent the NETS™ TA-25 Index Fund’s investment in shares comprising the TA-25.
Northern Trust Global Investments, the third largest global institutional asset manager, currently manages over US$300 billion in index and quantitative assets for institutional and individual clients worldwide. Northern Trust Corporation is a global provider of investment management, asset and fund administration, fiduciary and banking solutions for corporations, institutions and affluent individuals. As of December 31, 2007, Northern Trust had assets under custody of US$4.1 trillion, and assets under investment management of US$757.2 billion.
Securities tracking the TA-25 have become a primary instrument by which Israeli investors invest in TASE. Now American investors can conveniently invest in TASE’s leading index as well. It is important to note that the holdings of foreign institutional investors in TASE-listed shares came to NIS 1.6 billion (approximately 440 million dollars). Approximately 25% of the trading volume on the equity market is generated by foreign investors. More information on the NETS™ TA-25 Index Fund and other NETS™ ETFs are available on the NETS™ website: www.NETSETFS.com
Ester Levanon, TASE CEO, notes: “The launch of Northern Trust’s “TAV” ETF on the TA-25 is another expression of the globalization process which Israel’s capital market is undergoing. The new ETF constitutes a convenient tool by which foreign investors can invest in TASE and we believe that it will further increase global interest in TASE.”
