Global X Funds kicked off April with the rollout of two frontier-market-focused ETFs targeting the markets of Nigeria, Mongolia and Central Asia.
The Global X Nigeria Index ETF (NYSE Arca: NGE) focuses exclusively on the most populous country in Africa. The fund tracks a 25-stock Solactive index designed by Frankfurt-based Structured Solutions AG. It comes with an annual expense ratio of 0.68 percent.
The Global X Central Asia & Mongolia Index ETF (NYSE Arca: AZIA) also tracks a Solactive index and invests in some 25 securities from Mongolia as well as Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan. AZIA comes with an annual expense ratio of 0.69 percent.
Both Global X ETFs are what the company called “first to market.”