The Globe and Mail reports in its Wednesday edition that BlackRock on Tuesday launched a Texas-focused exchange-traded fund, as the asset manager aims to tap into the state's growing reputation as a magnet for companies, capital and jobs. A Reuters dispatch to The Globe says the Lone Star State's low taxes, business-friendly policies as well as growing tech and energy sectors have attracted investors and asset managers looking to tap into its long-term growth potential. BlackRock said the iShares Texas Equity ETF will invest in companies headquartered in the state. Such funds are popular for offering low-cost, tax-efficient access to regional or sector-specific growth in a single trade. The world's largest asset manager said Texas is home to one in 10 publicly traded U.S. companies, and that more than 300 companies have relocated their headquarters to the state since 2015. Tesla, Oracle and Hewlett Packard Enterprise, have moved to the state in recent years. "TEXN presents a new opportunity ... to capitalize on Texas's twin engines of business and population growth," said BlackRock's head of the Americas client business Joe DeVico.