Global X Funds, the New York based provider of exchange traded funds [see profile], yesterday launched the Global X FTSE Argentina 20 ETF.
The new ETF tracks the FTSE Argentina 20 Index, which represents the performance of the twenty largest and most liquid companies that directly participate in the Argentine economy, but are not listed in Argentina. The firm said the fund is the first ETF globally to target this country. The fund has an annual expense ratio of 75 basis points.
"ARGT provides a relatively cost effective way to access the second largest economy in South America, a glaring hole in the existing ETF offerings," stated Bruno del Ama, chief executive officer of Global X Funds.
Global X Funds Launches First Argentina ETF
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NEW YORK, March 3, 2011 /PRNewswire/ -- Global X Funds, the New York based provider of exchange traded funds, today launched the Global X FTSE Argentina 20 ETF (Ticker: ARGT). The fund is the latest expansion in the ETF issuer's Latin America fund suite and the first ETF globally to target this country.
Argentina stands as the second largest economy in South America by GDP, trailing only Brazil, according to IMF estimates from 2010. Argentina has developed trading ties with emerging economic powers; in 2010, nearly 19% of exports went to Brazil and over 9% went to China. As the second largest corn exporter and third largest soy exporter in the world, the fund may allow investors to benefit from increased food demand from Argentina in the emerging world (CIA Factbook, 2010).
"ARGT provides a relatively cost effective way to access the second largest economy in South America, a glaring hole in the existing ETF offerings," said Bruno del Ama, chief executive officer of Global X Funds.
The Global X FTSE Argentina 20 ETF tracks the FTSE Argentina 20 Index, which represents the performance of the twenty largest and most liquid companies that directly participate in the Argentine economy, but are not listed in Argentina. As of February 22, 2011 the three largest components for ARGT were Tenaris S.A. ADS, MercadoLibre Inc., and Banco Macro S.A. ADS.
ABOUT GLOBAL X FUNDS
Global X Funds is a New York-based provider of exchange-traded funds that facilitates access to investment opportunities across the global markets. With over $1.5 billion in managed assets as of February 28, 2011, it is one of the fastest growing ETF providers in the world with a focus on Developed, Emerging Markets, and Global Commodities fund suites. For more information, please visit www.globalxfunds.com.
DISCLOSURE
Investing involves risk, including the possible loss of principal. International investing may involve risk of capital loss from unfavorable fluctuations in currency values, from differences in generally accepted accounting principles, or from economic or political instability in other nations. Emerging markets involve heightened risks related to the same factors as well as increased volatility and lower trading volume. Investments focusing on a single country may be subject to higher volatility.
Carefully consider the Funds' investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Funds' prospectus, which may be obtained by calling 1-888-GX-FUND-1 (1.888.493.8631), or by visiting www.globalxfunds.com. Read the prospectus carefully before investing.
Global X Management Company, LLC serves as an advisor to the Global X Funds. The Funds are distributed by SEI Investments Distribution Co., which is not affiliated with Global X Management Company or any of its affiliates.
FTSE Indexes have been licensed for use by Global X Management Company, LLC. Global X Funds are not sponsored, endorsed, issued, sold, or promoted by FTSE, nor does this company make any representations regarding the advisability of investing in the Global X Funds.
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