New fund rises by 13%

THE new Exchange Traded Fund launched by the Irish Stock Exchange (ISE) has risen by 13% since it hit the market in April, NCB Stockbrokers said yesterday.

The broker said that the fund, which was the first of its kind in Dublin and which gives investors exposure to 20 of the top stocks on the ISE, had made an excellent debut and that its performance would benefit from a strong economy and increasing profits from Irish companies.