Singapore – International law firm Clifford Chance has advised Barclays Global Investors Southeast Asia Limited (“Barclays Global Investors”) on the world’s first MSCI India exchange traded fund (“ETF”) to be listed in Singapore. The fund, iShares MSCI India, which is designed and managed by Barclays Global Investors, will be listed on the Singapore Exchange on 15 June 2006.
The fund will be the first of its kind outside India to offer investors a convenient and cost-effective way to access the fast-growing Indian equities market. It will track the MSCI India Index, which covers at least 85% of each industry group in the Indian market.
The Clifford Chance team was led by Ho Han Ming, head of Clifford Chance’s funds practice in Singapore, assisted by associate Josephine Law. He commented:
“This is an innovative product reflecting the increasing growth and focus on the exciting Indian market. We are delighted to have been able to advise Barclays Global Investors on this transaction, drawing upon our experience acting on numerous firsts in the Asian funds sector.”