The iShares MSCI Emerging Markets Eastern Europe Index Fund began trading on the NYSE Arca Friday.

“The emerging markets have been an ongoing investment theme throughout 2009,” said Michael Latham, co-CEO at Barclays Global Investors. “Eastern Europe is a region poised for potential growth and presents significant opportunity for investors. This new fund will help provide investors with the ability to tactically take advantage of market opportunities within difficult-to-access markets.”

He added, “The strong inflows into iShares emerging markets ETFs since the beginning of the year suggests that investors are favoring these vehicles over similar emerging market mutual funds.”

The index covers companies in the Czech Republic, Hungary, Poland and Russia.

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