With Any Luck, There Could Be an Irish ETF

November 07, 2007 at 8:00 am by Tom Lydon      Bookmark and Share

Shamrocketf Will there be an Irish exchange traded fund (ETF) available in the United States any time soon? It looks like there is clearly a demand for an ETF based on the Irish market, if the feedback from institutional investors, stockbrokers and investment bankers is any indication. The Irish stock exchange launched a market for an ETF based on the 20 most liquid equities, back on April 22, 2005. The press release for The Irish stock exchange says the total expense ratio is 0.5% based on assets under management and the trading takes place under the ISEQ 20 Exchange Traded Fund PLC on the Irish stock exchange. The top holdings include Allied Irish Bank, CRH, Bank of Ireland and RyanAir.

If we get enough positive feedback, I’ll contact the Irish Stock Exchange and try to get this ETF available in the US.

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  • Floyd
    Folks interested in Irish investments should look at the closed end New Ireland Fund IRL, which has done well.
  • Tom Lydon
    You're absolutely right Roger. Foreign ETFs do have different structures. I was implying that the index provider should consider creating an ETF mirroring the ISEQ 20 here in the US. They would have to go through the standard regulatory process, but one would think the demand would be there considering there are many other single country funds with top holding of lesser market cap. Thanks for you comment. Just getting my Irish up. -Tom
  • Roger Nusbaum
    Tom,

    As I understand it an ETF traded on a foreign market can't be traded here because of something to do with the open end nature of the share creation process.

    At least this is what Schwab has told me.

    If correct, then there would have to be a regulatory change not an inquiry with the ISE.
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