Press Release iShares Offers the First Natural Resources Exchange Traded Fund
San Francisco - October 26, 2001 - Barclays Global Investors (BGI) announces that the iShares Goldman Sachs Natural Resources Exchange Traded Fund (ticker: IGE) will begin trading on the American Stock Exchange today. The fund tracks the Goldman Sachs Natural Resources index, a market capitalization-weighted index of 112 stocks designed to measure the performance of companies in the natural resources sector, which includes energy, precious metals, timber, and other subsectors. The new iShares will be managed by Barclays Global Fund Advisors, a subsidiary of Barclays Global Investors, N.A., and the manager of the largest selection of ETFs, known as iShares. SLK-Hull Derivatives LLC is the specialist firm in this new product, making them the market maker for a total of 22 iShares funds.
"For investors who are seeking to diversify their investment portfolios with a natural resources fund, the iShares Goldman Sachs Natural Resources Fund provides broad diversification in the sector in a cost effective manner," said Lee Kranefuss, BGI's CEO of Individual Investor and Exchange-Traded Funds Business.
"The Goldman Sachs Natural Resources index provides broad, diversified exposure to the natural resources sector in the United States," said Sandy Rattray, Vice President in Derivatives and Trading Research at Goldman Sachs. "By tracking this objective index, the fund will provide investors with the exposure they desire to this important sector."
iShares are index funds that are bought and sold like common stocks on national securities exchanges as well as certain foreign exchanges. iShares are attractive to many individual and institutional investors and financial intermediaries because of their relatively low cost, tax efficiency and trading flexibility. Investors can purchase and sell shares through any brokerage firm, financial advisor, or online broker, and hold the funds in any type of brokerage account. Because iShares can be traded like stocks, they offer intraday liquidity. The liquidity of iShares is driven by the liquidity of the underlying securities, thus as long as the stocks in the portfolio can be bought and sold easily, any supply and demand requirements can be met. Similar to many index funds, iShares are designed to have relatively low portfolio turnover, which reduces transaction costs incurred by the fund and minimizes capital gains distributions to investors. For a list of currently available iShares, visit www.ishares.com
Barclays Global Investors is the world's largest institutional investment manager, and the world's largest provider of structured investment strategies such as indexing, tactical asset allocation, and quantitative active strategies *. BGI managed more than $770 billion in assets as of 6/30/01, and over 1,500 funds, which track over 200 global indexes, for nearly 2,000 clients in 40 countries around the world. As the creator of the first index strategy 30 years ago, BGI is an innovator in investment management, applying science and technology to the investment process. BGI has approximately 2,000 employees worldwide and is owned by Barclays PLC, one of the UK's largest companies, and one of the world's leading global financial services providers, with operations in over 60 countries worldwide.
* Source: "Special Report: Global Leaders." Pensions & Investments,(Sept. 2000),p.15 To determine if the fund(s) are an appropriate investment for you, carefully consider the funds' investment objectives, risk factors and charges and expenses before investing. This and other information can be found in the funds' prospectuses, which may be obtained by calling 1-800-iShares or click here to view or download a prospectus. Read the prospectus carefully before investing. There are risks involved with investing, including possible loss of principal. In addition to the normal risks associated with equity investing, narrowly focused investments typically exhibit higher volatility. Diversification may not protect against market risk. iShares are distributed by SEI Investments Distribution Co. (SEI). Barclays Global Fund Advisors (BGFA) serves as an advisor to iShares. Barclays Global Investors Services (BGIS) assists in the marketing of iShares. BGFA and BGIS are subsidiaries of Barclays Global Investors, N.A., none of which are affiliated with SEI. iShares may be sold throughout the day on the exchange through any brokerage account. However, iShares may only be redeemed directly from the fund by Authorized Participants, in very large creation/redemption units. iShares transactions will result in brokerage commissions and will generate tax consequences. Mutual funds and iShares are obliged to distribute portfolio gains to shareholders. "Goldman Sachs Natural Resources Index" is a trademark of Goldman, Sachs & Co. and has been licensed for use by Barclays Global Fund Advisors for use in connection with iShares. iShares are not sponsored, endorsed, sold or promoted by Goldman, Sachs & Co. Neither Goldman, Sachs & Co. nor any of its affiliates make any representation regarding the advisability of investing in iShares. Goldman, Sachs & Co. is not affiliated with SEI, BGI N.A. or its affiliates. www.ishares.com 1-800-iSHARES (1-800-474-2737) ©2001, 2004 Barclays Global Investors. All rights reserved. iShares is a registered trademark of Barclays Global Investors, N.A. All other trademarks, servicemarks or registered trademarks are the property of their respective owners. As of December 1, 2009, the former Barclays Global Investors entities referred to in this publication are owned and controlled ultimately by BlackRock Inc. and neither Barclays nor any Barclays affiliate is responsible for, or associated with, the contents of this publication. Help for Journalists iShares offers insights on ETFs and financial news topics. Journalists may request information, photos or media support by contacting the PR Group. Experts Members of the press can select from a list of investment categories to find iShares experts who can assist with stories. Please contact a member of Public Relations to speak with any of our experts. About iShares Learn more about the past, present and future of iShares. The Idea The Facts The Timeline The Growth |
|||||||
