UK - FTSE Group has launched a new European Sector Index Series.
The indices went live this week with Exchange Traded Funds (ETFs) issued by iShares which are marketed and managed by Barclays Global Investors.
The move represents a change of benchmark for iShares and a cut in annual management fees from 0.5% pa to 0.35% pa. BGI claims that the fee reduction makes iShares the “cheapest route to investing in European sectors.”
There are now 26 ETFs listed on FTSE’s European indices, with almost £800m of assets under management.
The series covers eight of the most traded sectors with some 30 constituents in each index, and aims to provide exposure to highly liquid constituents and low turnover.
It is expected that additional products will be launched in the series in the near future.
Commenting on the changes, John Demaine, iShares director said: “iShares continually seeks to ensure that investors are getting the investment tools they need. Our range of exchange traded funds must therefore be constructed to best reflect a particular market or sector.
“The European sector iShares will benefit from being aligned to such a widely benchmarked index provider as FTSE. iShares now offers the lowest Total Expense Ratio of any pan-European sector funds, capped at 0.40% p.a.”
Market makers in the iShares FTSE European Sector Funds include Dresdner Kleinwort Wasserstein, Goldman Sachs International, Merrill Lynch International and Morgan Stanley & Co. International Limited.
Trustees lack expertise, time and resources to develop effective communications on technical pensions issues and need professional help, a major review of the British Steel saga has concluded.
In this week's Pensions Buzz, we want to know if you think trustees should consult directly with members before agreeing to a DB superfund buyout.
Thousands of savers taking tax-free lump sums ahead of retirement are at risk of a pensions shortfall in later life due to neglecting their remaining pot, Zurich has warned.
Professional Pensions is looking to update its list of pensions master trusts in the UK ahead of authorisation. Can you help?