WisdomTree To Cross-List Nine ETFs In Mexico

April 27, 2010

 

WisdomTree, the New York-based exchange-traded fund company known for its family of fundamentally weighted ETFs, cross-listed nine of its most popular ETFs on the principal Mexican securities exchange, the Bolsa Mexicana de Valores (BMV).

Nine of its funds—three WisdomTree Dreyfus currency ETFs and six equity-based ETFs—began trading today in the Sistema Internacional de Cotizaciones (SIC), a special international section of the BMV where institutional investors can trade foreign securities in Mexico. The largest, based on assets gathered is the WisdomTree India Earnings Fund (NYSEArca: EPI), with just over $886 million in assets.

Cross-listing of funds in the rapidly growing Mexican market is gaining momentum. The world’s biggest ETF firm, iShares, was the first U.S. firm to offer its funds in Mexico, where seven of its equities-based products began trading in 2004. By the end of February, U.S. fund sponsors—including State Street Global Advisors, Vanguard and ProShares—had more than 180 cross-listed ETFs trading in the SIC.

WisdomTree’s plan is its first foray into the Mexican market. It’s hoping to carve out a niche there by offering products not yet available on the SIC.

The company plans to cross-list more of its funds on exchanges outside the U.S., WisdomTree spokesman Stuart
Bell
said in a telephone interview. Apart from saying it’s looking into other regions, he didn’t elaborate.

The remaining equity funds include the WisdomTree Japan SmallCap Dividend Fund (NYSEArca: DFJ), the WisdomTree Emerging Markets SmallCap Dividend Fund (NYSEArca: DGS), the WisdomTree Emerging Markets Equity Income Fund (NYSEArca: DEM), the WisdomTree SmallCap Earnings Fund (NYSEArca: EES) and the WisdomTree LargeCap Dividend Fund (NYSEArca: DLN).

The three currency funds are WisdomTree’s popular Dreyfus Chinese Yuan Fund (NYSEArca: CYB), with over $800 million in assets; the Dreyfus Emerging Currency Fund (NYSEArca: CEW); and the Dreyfus Brazilian Real Fund (NYSEArca: BZF).

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