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.
By Madhu Kalia
The Pension Protection Fund (PPF) is consulting on proposals to charge a "risk reflective" levy for commercial defined benefit (DB) consolidation vehicles.
The funding gap across FTSE 350 schemes could be slashed by as much as £275bn if schemes look beyond traditional ways of creating value. Victoria Ticha examines how
There will be "many flavours" of defined benefit (DB) consolidators but consolidation will only be the right answer for a minority of schemes, Alan Rubenstein says.
Work and Pensions Committee (WPC) chairman Frank Field has questioned the regulator on what lessons it can learn from the experience of the Kodak Pension Plan No.2 (KPP2).