XShares, the company that released the HealthShares family of exchange traded funds(ETFs), announced they have received an additional round of financing. The $10 million round is from Grail Partners, LLC, a merchant bank specializing in the investment management industry. The company will use this money to bring a range of additional ETFs to market. Currently, they plan to launch about 45 more innovative ETFs in 2007. There is a substantial list of funds in varying stages of development, some of which are utilizing proprietary indexes, as well as others developed together with strategic partners.
XShares product offerings include HealthShares, a family of 20 funds focused on the most advanced medical therapies and treatments. The first five funds began trading on the New York Stock Exchange January 23, 2007.
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