March 10, 2008 at 1:00 pm by Tom Lydon
First, WisdomTree and PowerShares launched their India exchange traded funds (ETFs). Now iShares wants to join in the party, too. It filed a registration form with the Securities and Exchange Commission (SEC) last week.
iShares will have its work cut out, because the first fund to launch usually benefits from the pent-up investor demand, says Jeffrey Ptak for Morningstar. The WisdomTree India Earnings Fund (EPI), launched in February, was the first India ETF. Right out of the gate, it traded a million shares, reports Mariana Lemann for Ignites, and has since garnered assets of $85.7 million. The PowerShares India Portfolio (PIN) launched last week.
The iShares India will track the S&P India Nifty 50 Index, which tracks the equity performance of the top 50 companies by market cap that trade in the Indian market. Barclays Global Investors will aim for a 95% correlation to the index.
An iShares fund could gain a competitive advantage in pricing: the expense ratio for WisdomTree’s fund is 0.88%, while the PowerShares fund is 0.78%. The average expense ratio for the type of fund iShares will create is 0.61%.
Tags | Asia, Emerging Markets, India
March 10th, 2008 at 6:10 pm
Tuesday, 11 March 2008, Megève, France
Hi ETFtrends!
Why do you leave out Lyxor’s (http://www.lyxoretf.com/en/) India ETF MSCI India (INR.PA, INR FP, FR0010361683)?
Cordialement,
Olga Kovshanova, MBA
__________________________________________
Olga Kovshanova, MBA
Email: olinka@olinka.info
Homepage: http://www.olinka.info
Skype name: olinkaru
M: +33 (0)6 75 19 26 39
March 11th, 2008 at 7:51 am
Olga,
We don’t generally cover ETFs listed on exchanges in other countries, particularly when there’s a product here, as in the case of the India ETFs.