Steve Schoenfeld, chief investment officer at Northern Trust, made the case that the world is eventually going to improve and investors may want to bet on it.
Allan Wastler for CNBC.com comments that these indexes are business products, so money is made for creating them, putting your name on them and of course, for using them. This ETF launch is a nod to the partnership between Northern Trust and the most important companies within the global financial world.
According to the fund’s fact sheet, the index is made up of the largest 15 stocks by full market capitalization from each of the 18 Industry Classification Benchmark Supersectors and the 30 largest stocks from emerging markets.
Consumer goods is the top sector in the fund, with 15.5% of the holdings. Financials follow, with 15.4%; oil and gas are 14.5% and technology is 10.9%. The expense ratio is 0.43%. The fund’s page on CNBC will give daily holdings information.
