iShares New Zealand ETF Fund Unveiled by BlackRock

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BlackRock just launched the iShares MSCI New Zealand Investable Market Index Fund (NYSE: ENZL). This will help emerging market investors tap into New Zealand stocks and the booming power of this region and its currency, the Kiwi.
The new single country ETF owns 23 stocks with a median market size of $710 million and skews heavily toward small cap stocks. The largest sector weightings of the index include materials (23%), telecommunications (16%) and consumer discretionary (14%).

“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. “Investors are increasingly interested in the precision of single country investing to implement international-focused investment strategies.”

The fund is the first ETF focused solely on the New Zealand market and its annual expense ratio is 0.55%.

ENZL is linked to the MSCI New Zealand Investable Market Index which is free-float adjusted market capitalization weighted and aims to track the top 99% of stocks by market size listed on stock exchanges in New Zealand.

According to the International Monetary Fund, New Zealand is expected to have real GDP growth of about three percent per year in 2010 and 2011 with inflation targeted at 1 to 3 percent in the medium term.

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Article printed from InvestorPlace Media, https://investorplace.com/2010/09/ishares-new-zealand-etf-fund-unveiled-blackrock/.

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