Passive funds having a massive impact on NZX

Tue, 12 Jan 2021

Two passive funds are having a huge impact on the NZX, particularly on the share price performances of Meridian Energy and Contact Energy.These are the BlackRock iShares Global Clean Energy ETFs, the ICLN and INRG funds. The ICLN fund is US-based while the INRG is European-focused and is compliant with European Union regulations.The two ETFs are benchmarked against the S&P Global Clean Energy Index which has 30 constituent companies with the two New Zealand companies having a combined weighting of 9.5 percent as at the end of December....

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