Barclays Global Investors Announces Launch of iShares S&P 1500 Exchange Traded Fund.Business Editors SAN FRANCISCO--(BUSINESS WIRE)--Jan. 22, 2004 Barclays Global Investors Barclays Global Investors is a subsidiary of British-based Barclays Bank which is in the investment management industry. It is the largest corporate money manager in the world, with over £936 billion (US$1.77 trillion) under management as of March 2006[1]. (BGI) announces that the iShares S&P 1500 Index Fund (ticker: ISI ISI International Sensitivity Index, see there ) is scheduled to begin trading on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. on January 23rd. With an expense ratio of 0.20%, the new exchange traded fund Exchange Traded Fund Similar to an index mutual fund, these tracking stocks trade continuously. Two popular ETFs are the Standard and Poor's depositary receipt (SPDR) launched in 1993 and the NASDAQ-100 Index Tracking Stock (QQQ) which was launched in 1999. is designed to track the S&P Composite 1500 Index, which combines the S&P 500, S&P MidCap 400 and S&P SmallCap 600 Indices, and represents approximately 90% of the total U.S. equity market capitalization Equity Market Capitalization A measure of the total market value of an equity market. The measure is calculated by taking the market capitalization of all companies in the equity market and adding them together to arrive at the capitalization for the market as a whole. . ISI enhances the current 84 iShares fund lineup that includes iShares designed to track the S&P 500, S&P MidCap 400, S&P Small Cap 600, the value and growth sub-set indices of each of those three S&P indices, and global S&P indices. "Out of the $64 billion in iShares total assets, a third of the assets are in the iShares S&P family of funds Family of Funds A group of mutual funds offered by one investment or fund company. Each mutual fund has different characteristics and can range depending on investment objective. Also referred to as a "Mutual Fund Family" or simply a "Fund Family". . Our clients value S&P's reputation and index methodology along with the broad selection of S&P iShares," said Lee Kranefuss, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of BGI's Intermediary Business. "The iShares S&P 1500 Index Fund will fill the gap for an S&P total U.S. market iShare." "The S&P Composite 1500 Index covers the broad market of large, mid and small cap stocks and is designed to be liquid and investable. Further, it can now be tracked by an ETF ETF See Exchange Traded Fund. ETF See exchange-traded fund (ETF). and provides a broad sector representation of the U.S. equity market," said Robert Shakotko, managing director, Standard & Poor's Index Services. "For investors, this exchange traded fund provides a way to achieve broad market exposure in a single trade." iShares are index funds that are bought and sold like common stocks on national securities exchanges as well as certain foreign exchanges. iShares are attractive because of their relatively low cost, tax efficiency and trading flexibility. Investors can purchase and sell shares through any brokerage firm, financial advisor, or online broker, and hold the funds in any type of brokerage account. For a list of currently available iShares, visit www.ishares.com. Barclays Global Investors is one of the world's largest asset managers(1) providing structured investment strategies such as risk-controlled active strategies and indexing. BGI is the global product leader of ETFs. BGI managed over $1 trillion in assets as of 11/30/03, and over 2,000 funds for more than 2,200 clients in 39 countries around the world. BGI is an innovator in investment management, applying science and technology to the investment process. BGI is owned by Barclays PLC. iShares are distributed by SEI Investments Distribution Co. (SEI). Barclays Global Fund Advisors (BGFA BGFA Barclays Global Fund Advisors BGFA Boston Globe Freelancers Association BGFA Barbados Game Fishing Association BGFA Belize Game Fishing Association BGFA Bulk Glass Forming Ability BGFA Berufsgenossenschaftliches Forschungsinstitut for Arbeitsmedizin ) serves as an advisor to iShares. Barclays Global Investor Services (BGIS) assists in the marketing of iShares. BGFA and BGIS are subsidiaries of Barclays Global Investors, N.A., which is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Barclays Bank PLC, none of which is affiliated with SEI. To determine if the fund(s) are an appropriate investment for you, carefully consider the funds' investment objectives, risk factors and charges and expenses before investing. This and other information can be found in the funds' prospectuses, which may be obtained by calling 1-800-iShares or by visiting www.ishares.com. Read the prospectus carefully before investing. iShares transactions will result in brokerage commissions and will generate tax consequences. Mutual funds and iShares are obliged to distribute portfolio gains to shareholders. Investing involves risk, including possible loss of principal. iShares may only be redeemed directly from the fund by Authorized Participants, in very large Creation/Redemption Units. iShares are not sponsored, endorsed, issued, sold or promoted by Standard and Poor's Noun 1. Standard and Poor's - a broadly based stock market index Standard and Poor's Index , nor does this company make any representation regarding the advisability of investing in iShares. (C) 2004 Barclays Global Investors. All rights reserved. iShares is a registered trademark of Barclays Global Investors, N.A. All other trademarks, servicemarks or registered trademarks are the property of their respective owners. 506-iS-0104 (1) Source: "Special Report: Global Leaders," Pensions & Investments, September 02, 2002, p. 14. |
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