Barclays Global Investors said on Wednesday that the board of directors of iShares Inc. and the board of trustees of iShares Trust have authorized a three-for-one, or two-for-one split, of 12 iShares Funds for shareholders of record on June 6 and payable on June 8.
The funds include the iShares MSCI Emerging Markets Index Fund, the iShares Russell 2000 Value Index Fund, iShares S&P MidCap 400 Index Fund and iShares Cohen & Steers Realty Majors Index Fund, among others. Fund shares will begin trading on a split-adjusted basis on June 9, 2005.
"The total assets of the iShares fund family have grown 70% since April 30, 2004," said Lee Kranefuss, CEO, Intermediary and ETF Business, Barclays. "We believe that the split will allow investors easier access at a smaller initial investment to some more popular iShares Funds that have a relatively high share price."