NZ celebrates BlackRock week

NZ celebrates BlackRock week
Luckily, BlackRock's Larry Fink isn't turning NZ from a democracy into an ETF. (Image: Getty)
David Chaplin
BlackRock bought New Zealand last week in an off balance-sheet transaction slated for repackaging as the first sovereign nation-specific exchange-traded fund.Due to be listed on the agri-heavy Chicago Board of Exchange (Cboe), the ground-breaking deal will capture the entire Kiwi economy inside the tax-efficient ETF (ticker code: KROCK) for an all-in annual fee of just 0.07%.Larry Fink, BlackRock chief executive, said in a statement that the move from democracy to ETF would bring enormous benefits for the country formerly known as Aotearoa...

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