Australia’s future looks bright

Article Excerpt

ISHARES AUSTRALIA INDEX FUND $23.48 (New York symbol EWA; buy or sell through brokers) is an ETF that holds the 79 largest Australian stocks. Its MER is 0.48%. The fund’s top holdings include Commonwealth Bank of Australia, 11.7%; Westpac Banking Corp., 9.1%; BHP Billiton, 8.5%; Australia and New Zealand Banking Group, 7.9%; National Australia Bank, 6.9%; Wesfarmers, 4.2%; CSL Ltd., 3.6%; Woolworths, 3.5%; Woodside Petroleum, 2.3%; Rio Tinto, 2.2%; Telstra Group, 2.2%, and Scentre Group, 1.7%; and Westfield Group, 1.5%. Australia benefits from its stable banking and political systems. It is also rich in natural resources and close to key Asian markets with vast potential, including India and China. The fund was launched on March 12, 1996. Its expense ratio is 0.44%. iShares MSCI Australia Index Fund is a buy. buy. …