(February 8 – 17:50 ET) – Barclays Global Investors Canada Ltd. is preparing to introduce a host of specialty exchange-traded funds.

It is also seeking market makers for the new ETFs — iUnits S&P/TSE 60 Capped, iUnits S&P/TSE Canadian MidCap, iUnits S&P/TSE Canadian Energy, iUnits S&P/TSE Canadian Financials, iUnits S&P/TSE Canadian Gold, iUnits S&P/TSE Canadian Information Technology, iUnits S&P 500 RSP and iUnits International Equity RSP.

The domestic funds will all issue 1.5 million units with prices ranging from $17 per unit for the IT fund, to $25 for the other sector funds, and $50 for the S&P/TSE 60 Capped and Canadian MidCap indexes.

The international funds will issue 1 million units at $20 each. Applications are now being accepted until February 16 from brokerages to act as specialists for all eight ETFs.

In the United States, BGI today launched a new ETF. The iShares Nasdaq Biotechnology Index Fund will trade on the American Stock Exchange. The new ETF will track the Nasdaq Biotechnology Index, which includes companies that are primarily engaged in biomedical research to develop new treatments and cures for human disease. The fund will be managed by Barclays Global Fund Advisors, a subsidiary of Barclays Global Investors. Hull Trading will be the specialist firm in this product.

“An exchange-traded fund that tracks the biotech sector was one of the most requested from our customers,” said Lee Kranefuss, CEO of BGI’s individual investor group. “The iShares Nasdaq Biotech index stock provides investors with cost-effective exposure to a diverse pool of securities in the biotech sector, plus the liquidity, ease of use, and ‘tradability’ of stocks.”
-IE Staff