Global X Pioneers ASEAN ETF

February 17, 2011

Global X keeps in stride with a new equities ETF targeting Southeast Asia.


Global X, the New York-based fund sponsor known for its emerging market and commodity funds, today launched the first-ever U.S.-listed ASEAN ETF, which provides exposure to the rapidly growing economies of Southeast Asia.

In 1967, Indonesia, Malaysia, the Philippines, Singapore and Thailand formed ASEAN, or the Association of Southeast Asian Nations, to foster economic and cultural cooperation among the countries of Southeast Asia. Today the organization also includes Brunei, Myanmar, Cambodia, Laos and Vietnam.

As of Feb. 11, the Global X FTSE ASEAN 40 ETF (NYSEArca: ASEA) was most heavily weighted toward Singapore (41.19 percent), followed by Malaysia (32.82 percent), Indonesia (14.77 percent), Thailand (10.58 percent) and the Philippines (0.61 percent).

Financials is ASEA's largest sector, with 43.55 percent of assets under management, followed by telecommunications, with 15.62 percent, and industrials, at 14.97 percent.

The fund has an annual expense ratio of 0.65 percent of assets under management.

Global X's new ASEAN ETF is the latest in a series of 2011 fund launches for the firm, which rolled out the first-of-its-kind Andean ETF earlier this month. Global X's Russell Emerging Markets Growth ETF (NYSEArca: EMGX) and Russell Emerging Markets Value ETF (NYSEArca: EMVX) began trading on Jan. 25.

Global X’s assets under management more than quadrupled in 2010, and the firm's CEO, Bruno del Ama, told Index Universe in a recent interview that his company would continue to expand its product lineup in 2011.

"If 2011 looks a little bit like 2010, we'll be thrilled," del Ama said in the interview.



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