Splits of International Funds

Nasdaq Global Funds Inc., a unit of the Nasdaq Stock Market Inc.(NDAQ) announced its plan for 3-for-1 stock splits of its international Exchange Traded Funds (ETFs) known as "Builders" (read our past posting) : BLDRS Asia 50 ADR Index Fund (ADRA), BLDRS Developed Markets 100 ADR Index Fund (ADRD) and BLDRS Europe 100 ADR Index Fund (ADRU). Nasdaq also has authorized a 4-for-1 split for BLDRS Emerging Markets 50 ADR Index Fund (ADRE) .

The four ETFs, which are structured as unit investment trusts, track indexes based on American Depository Receipts (ADR) of foreign companies. Annual expenses for each portfolio are 0.30%, not including broker commissions.

The payment date for the splits is July 7 for shareholders of record June 22. The decision was taken in an effort to make these funds more affordable for individual investors following their very strong run in recent months. However, in last few weeks these funds have taken big hits as world markets, and emerging markets in particular, tumbled on expectations for further interest-rate hikes by central bankers and concern that global economic growth will slow in months to come.