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Rating:BGI Gets TIPSy in Time for X-Mas Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, December 08, 2003

BGI Gets TIPSy in Time for X-Mas

by: Sean Hanna, Editor in Chief

Barclays Global Investors is getting TIPsy for the holidays. The San Francisco-based money manager is rolling out an exchange-traded fund investing in Treasury inflation protected bonds (TIPs).

The new iShares Lehman TIPS Bond Fund started trading on the New York Stock Exchange under the symbol TIP Monday morning. It is advised by Barclays Global Fund Advisors and carries a 20 basis point expense ratio. SEI Investments Distribution Co. (SEI) is the distributor for all of the iShares ETF family.

This is the first time investors will be able to purchase a TIPs ETF, although there are a number of mutual funds specializing in the inflation-protected bonds, including offerings from American Century and a recent fund from Fidelity Investments.

Lee Kranefuss, CEO of BGI's Intermediary Business, said that the fund is a good tool for investors seeking to add an investment to their portfolio that is relatively uncorrelated to other holdings.  

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