International investing in exchange-traded funds has just gotten easier for Barclays Global Investors clients. Barclay's iShares unit has launched 12 exchange-traded funds on a new multi-currency service at the London Stock Exchange to enable investors to buy them in dollars, according to Reuters.
Investors can now buy the 12 ETFs in dollars as well as their current sterling listing. In the future, it may be possible to also buy them in euros. "Managers of the U.S. dollar-denominated funds who want to avoid foreign exchange costs until now had little option but to buy ETFs in the American markets, which can be tax-inefficient for overseas investors," said Martin Graham, director of markets at the LSE.