The new iShares ETF (exchange-traded fund) has an annual expense ratio of 0.48%, and is the first international REIT iShares ETF, according to the announcement.
“The iShares S&P World ex-U.S. Property Index Fund meets several important needs of investors – accessing a market with a cost effective, tradable investment vehicle and diversification beyond what U.S. real estate can provide,” said Noel Archard, Head of U.S. iShares Product Development, in the announcement. “As more REIT and REIT-like structures are created outside of the U.S., BGI expects more individual investors and financial advisors to consider international real estate as an investment.”
As of June 30, 2007, iShares has introduced 17 new iShares Funds and had taken in $22 billion.
More information can be found at http://www.ishares.com.