ISHARES MSCI CHILE INVESTABLE MARKET INDEX FUND $45.70 - New York Exchange symbol ECH

ISHARES MSCI CHILE INVESTABLE MARKET INDEX FUND $45.70 (New York Exchange symbol ECH; buy or sell through brokers) is an ETF that aims to track the MSCI Chile Investable Market Index, which consists of stocks that are mainly traded on the Santiago Stock Exchange.

The fund’s top holdings are S.A.C.I. Falabella (retail), 9.2%; Empresas Copec SA (conglomerate), 8.6%; Enersis AS (electricity), 8.4%; Empresa Nacional de Electricidad (electricity), 6.7%; Cencosud SA (retailer), 5.7%; LATAM Airlines, 5.6%; Banco Santander Chile (banking), 4.7%; Banco de Chile, 4.3%; Empresas CMPC (pulp and paper), 4.2%; and Quimica y Minera de Chile (mining), 3.5%.

The fund’s industry breakdown is: Utilities, 24.9%; Financials, 17.6%; Consumer Staples, 13.3%; Consumer Discretionary, 10.9%; Materials, 10.5%; Industrials, 8.9%; Energy, 8.6%; Telecommunications, 2.7%; and Information Technology, 2.0%.

iShares MSCI Chile Investable Market Index Fund was launched on November 12, 2007. It has an expense ratio of 0.61%.

Chile is the world’s biggest copper producer and a major supplier to Asian markets. Its dependence on resources is something of a drawback to investment in Chile, particularly as Asian markets have slowed and copper prices have dropped. The long-term outlook for its economy remains sound, but we now see the iShares MSCI Chile Investable Market Index Fund as a hold.

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