Ireland's first Exchange Traded Fund performs
02/08/2005 - 13:02:02The ISEQ 20 ETF, the first Irish Exchange Traded Fund to be listed on the Irish Stock Exchange, has performed strongly in the first three months since its launch, according to research produced by NCB Stockbrokers.
The Fund, which invests in the top 20 stocks quoted on the ISEQ, produced a return of 13% since its launch on April 22, 2005.
With 47% of the profits of the top 20 ISEQ stocks coming from Ireland, NCB believes that the strong performance is set to continue as these companies benefit from their exposure to the fast growing Irish economy.
NCB is forecasting a further rise of up to 8% over the next six months.
