Global X Funds [see profile], the New York-based provider of exchange traded funds, yesterday launched the Global X FTSE Andean 40 ETF. [SEC filing] The fund is the latest expansion in the ETF issuer's Latin America fund suite and is being touted by the firm as the first ETF globally to target this region.
The Andean region, comprised of Chile, Colombia, and Peru, has been among the best performing stock markets in the world, according to the firm. The Global X ETF tracks the FTSE Andean 40 Index, which is designed to measure the performance of the 40 largest and most liquid companies in the Chilean, Colombian, and Peruvian markets.
"Because of its geographic size, the Andean region is an important investment opportunity underserved by the current Latin American ETF options," said
Global X CEO Bruno del Ama in a press release.
Global X Funds Launches First Andean ETF
NEW YORK, Feb. 3, 2011 /PRNewswire/ -- Global X Funds, the New York-based provider of exchange traded funds, today launched the Global X FTSE Andean 40 ETF (Ticker: AND). The fund is the latest expansion in the ETF issuer's Latin America fund suite and is the first ETF globally to target this region.
The Global X FTSE Andean 40 ETF launch is a testament to the economic powerhouse that Latin America has become. The Andean region, comprised of Chile, Colombia, and Peru, has been among the best performing stock markets in the world. The ETF will allow investors to take advantage of a pending agreement to merge the stock markets of Chile, Colombia, and Peru, which will create the second largest stock exchange in Latin America after Brazil's and 50% larger than Mexico's (World Federation of Exchanges, 2010).
"We are excited to provide a benchmark and investment vehicle to the combined Chile, Colombia, and Peru exchanges," said Bruno del Ama, CEO of Global X Funds. "Because of its geographic size, the Andean region is an important investment opportunity underserved by the current Latin American ETF options."
The Global X FTSE Andean 40 ETF tracks the FTSE Andean 40 Index, which is designed to measure the performance of the 40 largest and most liquid companies in the Chilean, Colombian, and Peruvian markets. As of January 27, 2011 the three largest components for AND were Colbun SA., AES Gener S.A., and CIA Sudamericana de Vapores.
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 billion in managed assets as of December 31, 2010, it is one of the fastest growing ETF providers in the world with a focus on Global Commodities, International and Emerging Markets 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.
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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