As we get on with the New Year, there are a good number of finance related queries I have been receiving, and most have to do with two actually unrelated subjects. First being the much touted Millennium Bank, and secondly - ishares ETF. I will address the latter first, as the former is a rather shaky issue.
So iShares was given the leg up by BlackRock in year two thousand and seven. BlackRock is part of Barclays. The outfit is located in San Fancisco. There are closes to a hundred and eighty ETFs that have their listings in the US. However, do not let this fact make you think that the fund distribution across every iShares ETF is level, because it certainly is not. At the end of year two thousand nine, the top ten among iShares ETF were seen to be worth close to fifty per cent of the assets. These block buster ETF's apart, there are also some other good things about iShares.
Now moving on to Millennium Bank, many of you may know that the bank is actually based in the Caribbean island of St Vincent and the Grenadines, a beautiful place, but having a shady reputation connected to its finance sector. The problem with such banks is just that.
In the event of any funny business, the first thing you would want is to get your money out. However, Millennium Bank being situated in another country, there is no telling what could happen, you don't want to make a flight to the Caribbean and deal with the conundrums of deposit insurance there. So maybe it's on the level, maybe its not, but why risk it for the interest?
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