iShares is a family of exchange-traded funds (ETF) managed by BlackRock. The first iShares ETF was known as World Equity Benchmark Shares (WEBS) but has since been renamed.
Each iShares fund tracks the index of bonds or the stock market. The iShares list of stock exchanges includes the London Stock Exchange, the US Stock Exchange, the New York Stock Exchange, the BATS Exchange, the Hong Kong Stock Exchange, the Toronto Stock Exchange, the Australian Stock Exchange, and a number of European and Asian stock exchanges. iShares is the largest ETF publisher in the US and globally.
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Histori
In 1993, State Street, in partnership with American Stock Exchange, launched Standard & amp; Poor Depositary Receipts (NYSEÃ, Arca: Ã, SPY) (now 'SPDR S & P 500'), which is traded in real time and tracks the S & amp; P 500. This is the first ETF to trade in the United States, and continues to trade to this day.
In response, Morgan Stanley launched a series of ETFs called WEBS that tracked the MSCI foreign stock market index. WEBS, an acronym for World Equity Benchmark Shares , was developed in collaboration with Barclays Global Investors, fund manager. Unlike SPDR fund which is a unit investment trust, the vehicle underlying WEBS is mutual fund.
In 2000, Barclays placed a significant strategic effort behind ETF market growth, launching over 40 new funds, labeled as iShares, supported by extensive educational and marketing efforts. This effort was led by Lee Kranefuss, who worked closely with the ETF inventor, Nate Most, at the time Chairman of the Board of WEBs and advisor to Barclays on iShares effort. Most had retired from the American Stock Exchange a few years earlier and settled in California. WEBS soon renamed iShares MSCI Series as part of the program.
On November 7, 2006, iShares announced the purchase of an INDEXCHANGE HypoVereinsbank ETF unit for EUR240 million. This solidifies iShares position in Europe as a leading ETF provider.
Barclays adds currency hedging features to Canadian iShares, to distinguish them from US products in response to the abolition of Canada's foreign ownership limit in RRSP. Barclays protects currency changes in Canadian - US exchange rates for S & amp; P 500 and MSCI EAFE.
On March 16, 2009, Barclays confirmed that it plans to sell iShares to CVC Capital Partners, a private equity firm that has agreed to pay more than $ 4 billion. However, under the 45-day "go shop" clause, subsequent bids by BlackRock were announced on June 11, 2009 for all Barclays Global Investors' parent divisions including iShares, in a cash-worth-share transaction worth approximately US $ 13.5 billion (37.8 million shares of common stock and US $ 6.6 billion in cash).
iShares has increased the amount of its "iShares Core" fund.
Maps IShares
See also
- ETF Securities
- IPath
- List of exchange traded funds
- PowerShares
- SPDR
References
Bibliography
External links
- The official US iShares ETF site
- The official website of UK iShares ETF
- Official Canadian iShares ETF site
- The official Australian iShares ETF site
Source of the article : Wikipedia
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