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iShares adds European Financials to ETF range

iShares has added iBloomberg European Financials to its range of exchange traded funds (ETFs).

iBloomberg European Financials will track the Bloomberg European Financials index, which consists of the largest financial companies in Europe. It will do this by pooling investors&#39 money to buy shares in the European companies that make up the index.

Exchange traded funds are popular in the US. They combine the features of unit trusts and investment trusts with the characteristics of shares. Like unit trusts and investment trusts, they invest in a range of shares, which gives them the advantage of diversity. But unlike unit trusts and investment trusts, ETFs like the iBloomberg Financials EFT can be traded on the stock exchange at any time like shares.

Like ordinary shareholders, investors in iBloomberg European Financials receive dividends. However, these dividends are reinvested, making it suitable for investors who are looking for capital growth rather than income.

Investing in Europe has been seen as a good prospect for 2001 and the financials sector is expected to offer growth opportunities. However, the recent downturn in global stockmarkets has created a jittery climate that may prevent investors for trying something new.

The Bloomberg European Financials Index fell to 536.00 points on March 26, 2001 from a 52-week high of 1005.00 points on February 12, 2001.

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