EPHE: The First Philippines ETF Arrives

The first Philippines ETF hit the market on September 29, 2010 in the form of iShares MSCI Philippines Investable Market Index Fund (EPHE). The underlying MSCI index is a free-float adjusted market capitalization weighted index designed to measure the performance of the top 99% (by market cap) of equities listed in the Philippines. According to the EPHE fact sheet (pdf), the index has 27 constituents and the fund currently holds 26.  The five largest stocks are Philippine Long Distance Tel 12.7%, SM Investments Corp 9.7%, Ayala Land Inc 9.5%, Manila Electric Company 9.0%, and Bank of Philippine Islands 7.6%. Sector breakdown for the index as of 8/31/10 is quite lopsided with Financials at 46.5%, Utilities 17.2%, Telecommunications 15.7%, Industrials 15.0%,… . . . → Full Story: EPHE: The First Philippines ETF Arrives