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The iShares family of Exchange Traded Funds (ETFs) today announced a significant expansion with the acquisition of NAFTRAC, the first and largest ETF in Mexico  ...

and Latin America. Following approval of the transaction by holders of NAFTRAC, the ETF was renamed the iShares NAFTRAC™. Its addition to the iShares family makes iShares a leading provider of ETFs in the region.

 

Nacional Financiera, the Mexican government development bank, launched NAFTRAC in April 2002 and today it is one of the most recognized and widely followed securities in the Mexican market. From January through April 2009, trading of NAFTRAC represented 14% of all trading volume at the BMV®. 1iShares NAFTRAC is designed to track the leading Mexican stock index, the IPC® (Índice de Precios y Cotizaciones).

“We are very proud to have the pioneering and globally known NAFTRAC as part of our industry-leading ETF family. NAFTRAC’s addition to the iShares family is consistent with our commitment to providing the most compelling investment tools to investors in Mexico,” said Alejandro Reynoso, CIO and Regional Director for iShares Latin America.

The iShares NAFTRAC complements other members of the Mexican iShares family which was launched in October 2007. iShares now has 100 products listed on the Mexican Stock Exchange and is the largest provider of ETFs in Mexico.

Daniel Gamba, CEO, iShares Latin America and the Caribbean, said, “In the months to come, we will further intensify our efforts to develop and expand our business in Mexico, reaffirming our commitment to the market, which has set the standard in Latin America.”


Source: ETFWorld.com  -iShares