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Rating:Banking on It Not Rated 3.0 Email Routing List Email & Route  Print Print
Monday, January 08, 2001

Banking on It

Reported by Tamiko Toland

EE*Trade has opened two new index funds: the Financial Sector Index Fund and the Russell 2000 Index Fund. Both, like their other mutual funds, carry no loads and no 12b-1 fees.

The Financial Sector Index Fund tracks the Dow Jones US Financial Sector Index.

"Due in part to recent legislative changes, the changing demographics of the baby boomers and the consolidation within the Financial Sector, we thought this was an excellent time to launch this new one-of-a-kind fund," said Amy Errett, chief asset gathering officer for E*Trade.

The firm now offers ten proprietary funds, including a money market fund. The funds aim to provide diversification through sectorized index investments. 

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