Barclays Global Investors (BGI) has added four new index funds to its books, in response to demands from the group’s master fund and dealer group clients.
The four funds, the Barclays Australian Fixed Interest Index Fund, International Fixed Interest Index Fund, International Equities Index Fund and the Property Securities Index Fund, have been created especially for the master fund sector.
The new funds have been added to the group’s existing index fund, the Barclays Australian Equities Index Fund, which has been operating for about three and a half years.
Barclays adviser services national account manager Tim Bradbury says the additional funds complete BGI’s range of index funds.
The international investment manager also offers a range of actively managed funds, and Bradbury believes this makes BGI stand out from other groups.
“It is quite unusual to have both active and index capabilities. Most managers either offer one or the other,” he says.
The four index funds range in management fees with the Australian Fixed Interest Index Fund the lowest at 0.26 per cent and the International Equities Index Fund at the highest of 0.35 per cent.
Since opening to the market, the funds have reaped an initial $30 million and Bradbury says BGI is positive about further interest.
“The introduction of the new funds was in response to strong demands so we are very positive about the take up,” Bradbury says.
Discussions with interested clients are currently being held but Bradbury was unable to mention any names.
Earlier this week BGI also announced the rollout of its hedge fund product, the BGI Equity Market Neutral Fund, to both the retail and institutional markets.
