Global X pushes further into emerging market sector funds, this time with a filing to offer ETFs focused on Brazil, where planning for the 2014 World Cup and 2016 Summer Olympics will soon translate into big spending.
Global X, the New York-based fund company with a growing lineup of exchange-traded funds targeting specific industries in emerging market countries, filed with the Securities and Exchange Commission to offer six ETFs aimed at
The funds are the Global X Brazil Consumer ETF, the Global X Brazil Financials ETF, the Global X Brazil Industrials ETF, Global X Brazil Materials ETF, the Global X Brazil Utilities ETF and the Global X Brazil Mid Cap ETF. It didn’t specify annual management fees or ticker symbols in the filing, which was dated April 2. But it did say it plans to list the ETFs on the New York Stock Exchange.
Global X’s ETFs are in the works at a time after
Other existing ETFs targeting
Global X also filed to offer the Global X China Mid Cap ETF, adding to its existing lineup of
Global X didn’t specify what trading symbol the new China ETF would have or how much it would cost investors, but did say it plans to list it on the New York Stock Exchange.
The seven new funds will be based on the Solactive Brazil Consumer Index, the Solactive Brazil Financials Index, the Solactive Brazil Industrials Index, the Solactive Brazil Materials Index, the Solactive Brazil Utilities Index, the Solactive Brazil Mid Cap Index and the Solactive China Mid Cap Index.
Global X plans to use so-called replication strategies on each of the proposed funds that aim to invest in securities in about the same proportions as in each of the underlying indexes.