Products October 22, 2003

Barclays Sets Sights on S&P 1500 ETF

October 22, 2003 (PLANSPONSOR.com) - Barclays Global Fund Advisors has set its sights on yet another exchanged-traded fund (ETF) for its iShares Trust - the iShares S&P 1500 Index Fund.
Reported by

The new ETF, disclosed in a Securities and Exchange Commission (SEC) filing, will seek investment resultsthatcorrespond generally to the price and yield performance of the S&P Composite 1500 Index.   To accomplish this, Barclays intends on employing a passive investment approach by investing at least 90% of the basket of stock’s assets in the securities of its underlying Index. The remaining funds would then be invested in a mix of securities not in the S&P 1500 that the ETF’s adviser believes will help thefund track the index, according to a Dow Jones report.

The iShares S&P 1500 Index Fund will issue shares in blocks of 50,000 called creation units.   The fund has a 0.2% management fee.

iShares are index funds that are bought and sold like common stocks on national securities exchanges as well as certain foreign exchanges. Investors can purchase and sell shares through any brokerage firm, financial adviser, or online broker, and hold the funds in any type of brokerage account.

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