BlackRock launched the iShares MSCI New Zealand Investable Market Index Fund (ENZL), adding to its deep stable of single-country ETFs.
ENZL owns 23 New Zealand-based stocks with a median market size of $710 million and skews heavily toward small cap stocks. The largest sector weightings of the index include materials (23 percent), telecommunications (16 percent) and consumer discretionary (14 percent).
“The iShares MSCI New Zealand Investable Market Index Fund provides financial professionals, institutions and individuals first-to-market access to a developed country in the midst of a strong economic recovery,” said Noel Archard, head of U.S. products at iShares, BlackRock. “Investors are increasingly interested in the precision of single country investing to implement international-focused investment strategies.”