Northern Trust Global Investments (NTGI) continued its foray into the ETF market today with the launch of 3 more ETFs. The new NETS are listed on the NYSE. NTGI expects to continue the roll out of its ETF business with more product launches in the coming weeks and months.
Company Press Release
CHICAGO – April 16, 2008 – Northern Trust Global Investments (NTGI), the asset management arm of Northern Trust, today announced the launch of six NETS™ ETF products, signaling its entry into the exchange traded fund business. NETS™, or Northern Exchange Traded Shares™, are designed to support international allocations through exposure to some of the world’s best recognized international equities indexes, via shares traded on U.S. exchanges.
Peter K. Ewing, head of NTGI’s ETF business, said “We’re excited about entering this rapidly growing market with a very compelling product line. Prior to the NETS™ launch, U.S. investors were unable to gain ETF-based exposure to some of the world’s most widely accepted international benchmarks. These benchmarks have vast quantities of investment capital tied to their performance. Now, investors in the U.S. can access them here, too.”
The funds launched today on the NYSE Arca Exchange include:
· NETS™ Hang Seng Index Fund (Hong Kong) / Symbol: HKG
· NETS™ TOPIX® Index Fund (Japan) / Symbol: TYI
· NETS™ CAC40® Index Fund (France) / Symbol: FRC
On April 9th and April 11, NTGI listed the following funds on the American Stock Exchange:
· NETS™ FTSE 100 Index Fund (UK) / Symbol: LDN
· NETS™ DAX® Index Fund (Germany) / Symbol: DAX
· NETS™ S&P/ASX 200 Index Fund (Australia) / Symbol: AUS
NETS™ and Northern Trust’s ETF business is managed under NTGI’s Global Quantitative Management Group (GQM), which is headed by Michael A. Vardas, Jr. Mr. Ewing reports to GQM’s chief investment officer, Steven A. Schoenfeld. Chad Rakvin heads the team of portfolio managers who oversee NETS™ investment portfolios.
“This is a breakout initiative for us,” said Frederick H. Waddell, President and CEO of Northern Trust Corp. “ETFs have become increasingly popular with investors, and we are confident that NETS™ will be a great addition to our investment product offerings.”
As part of its entry into the ETF market, Northern Trust has recently registered for several other NETS™ ETFs, which are expected to be launched in the coming weeks and months.
NETS™, like many other ETFs, offer certain advantages over mutual funds, including lower expense ratios, higher liquidity (in the form of intraday trading and pricing), reduced portfolio turnover and the ability to sell ETF shares short. NETS™, which are available to both institutional and individual investors alike, may be purchased via U.S. brokerage accounts and through registered investment advisors (RIAs). (ETFs are subject to trading expenses which may affect the expense benefits depending on the frequency of trades.)
For more information: www.netsetfs.com.
Before investing you should carefully consider the NETS™ Funds’ investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained by visiting the Funds’ website at www.netsetfs.com. Please read the prospectus carefully before you invest. Foreside Fund Services, LLC, distributor.
An investment in NETS™ Funds is subject to investment risk, including the possible loss of principal amount invested. Fund returns may not match the return of their respective index, known as non-correlation risk, due to operating expenses incurred by each Fund and other factors. NETS™ Funds may invest in foreign or emerging market securities, which involve certain risks and increased volatility not associated with investing solely in U.S. securities. These risks include currency fluctuations, economic or financial instability, and lack of timely or reliable financial information. NETS™ Funds may also invest in small- and medium-sized companies, which involves greater risk than is customarily associated with investing in more established companies. NETS™ Funds are non-diversified, which means that each Fund may invest most of its assets in securities issued by or representing a small number of companies. Please refer to the prospectus for a complete description of the Funds’ risks.
Past performance is no guarantee of future results. Index performance returns do not reflect any management fees, transaction costs or expenses. It is not possible to invest directly in any index. There are risks involved in investing including possible loss of principal. There is no guarantee that the investment objectives of any fund or strategy will be met. Risk controls and models do not promise any level of performance or guarantee against loss of principal. One cannot invest directly in an index or average.
Northern Trust Global Investments comprises Northern Trust Investments, N.A., Northern Trust Global Investments Ltd., Northern Trust Global Investments Japan, K.K., the investment adviser division of The Northern Trust Company and Northern Trust Global Advisors, Inc. and its subsidiaries to offer investment products and services to personal and institutional markets.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of investment management, asset and fund administration, fiduciary and banking solutions for corporations, institutions and affluent individuals worldwide. Northern Trust, a multibank holding company based in Chicago, has a growing network of 85 offices in 18 U.S. states and has international offices in 15 locations in North America, Europe and the Asia-Pacific region. As of March 31, 2008, Northern Trust had assets under custody of US$4.0 trillion, and assets under investment management of US$778.6 billion. Northern Trust, founded in 1889, has earned distinction as an industry leader in combining high-touch service and expertise with innovative products and technology. For more information, visit http://www.northerntrust.com.
Northern Trust Global Investments (NTGI) is the trading name for the asset management activities of the entities that belong to the Northern Trust Corporation, a holding company based in Chicago. NTGI offers a full array of active, passive and enhanced products, as well as manager-of-managers programs for alternative and long–only investments. NTGI comprises The Northern Trust Company, Northern Trust Investments, N.A., Northern Trust Global Investments Limited, Northern Trust Global Investments Japan, K.K., and Northern Trust Global Advisors, Inc. and its subsidiaries. NTGIL and NTGAL are United Kingdom entities which are authorized and regulated in the United Kingdom by the Financial Services Authority.
The Northern Trust Company (http://www.northerntrust.com) is the principal subsidiary of Northern Trust Corporation (NASDAQ: NTRS).
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