International fund manager Barclays Global Investors (BGI) has launched four new sector-based exchange traded funds (ETFs), offering sector exposure across 13 European countries.
The funds - iBloomberg European Cyclicals, iBloomberg European Industrials, iBloomberg European Resources and iBloomberg European Staples - add to BGI’s existing ETFs in European financials, pharmaceuticals, technology and telecoms.
The funds track the Bloomberg European Investible Cyclicals Index, Bloomberg European Investible Industrials Index, Bloomberg European Investible Resources and Bloomberg Investible Staples Index respectively.
Subject to regulatory approval they will be listed within the LSE’s extraMARK.
A spokesman for BGI said that the funds were open to retail investors as well as institutions such as pension funds looking for short term strategies. He added that the fund would also suit a longer term approach for smaller funds.
*BGI has also launched ETFs called iUnits in Canada, and has 60 iShares in the US. The firm plans to extend iShares to other international markets.
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