iShares debuts New Zealand ETF

The ETF tracks the MSCI New Zealand Investable Market index, which is designed to calculate the performance of equity securities listed on stock exchanges in New Zealand. According to the International Monetary Fund, New Zealand is expected to have real gross domestic product growth of around 3% a year in 2010 and 2011. The country's economy has also benefited from high growth rates in Asia and Australia. The largest sector weightings at present include materials at 23%, telecommunications at 16% and consumer discretionary at 14%. iShares head of US product Noel Archard says the fu...