BlackRock has launched the iShares MSCI Russia Capped Index Fund, completing its suite of BRIC single-country funds.
The fund tracks the MSCI Russia 25/50 Index, with the top three sectors in the index being energy (50.7%), materials (18.4%) and financials (14.5%).
With this launch, iShares now offers nearly 40 single-country ETFs, with 19 of them dedicated to emerging countries.
“The new iShares MSCI Russia Capped Index Fund offers greater precision and access to the 12th-largest economy in the world,” said Noel Archard, head of U.S. product at iShares. “The new iShares fund further enhances our large single-country iShares ETF lineup to respond to requests from financial advisers and investors for greater precision in implementing their international-focused investment strategies and interest in getting deeper access to emerging market stocks to help diversify portfolios.”