Tachlit Nasdaq Biotechnology ETF heavily oversubscribed
Warm welcome for the six ETFs that Tachlit has issued in a week
The Tachlit Index corporation yesterday issued no less than six new exchange-traded funds. Demand for some passed supply, but not in all six cases.
After launching the six, which raised NIS 117 million for Tachlit, it will have eleven ETFs under management, with NIS 2 billion assets.
Demand for units in the six ETFs reached NIS 165 million. In some cases investors will receive only part of the amount they ordered.
One of the six ETFs tracks the S&P-500 index, one the Dow Jones-Euro Stocks 50 (which is, an index of the 50 biggest companies traded in Europe) and one tracks Nasdaq biotechnology.
That latter, the Tachlit Nasdaq Biotechnology, is the first vehicle of its kind in Israel: it tracks an index with the biggest 180 biotechnology companies listed in the U.S. That particular ETF was heavily oversubscribed and allocation will be only 63% of each order.
Those three were issued yesterday, adding to three that Tachlit had issued the week before: one tracking the Tel Aviv banks index, one the Nikkei 225 in Tokyo, and one tracking the Nasdaq 100.
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