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WisdomTree launches Middle East ETF

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Exchange-traded fund manager WisdomTree Investments has launched the WisdomTree Middle East Dividend Fund on the Nasdaq stock market, an ETF designed to provide broad exposure and tradable

Exchange-traded fund manager WisdomTree Investments has launched the WisdomTree Middle East Dividend Fund on the Nasdaq stock market, an ETF designed to provide broad exposure and tradable access to securities listed and traded in the Middle East.

‘The growing economies of the Middle East region, while driven by increasing revenues from oil exports, are becoming more diversified,’ says WisdomTree president and chief operating officer Bruce Lavine. ‘We estimate that equities trading in the Middle East region now make up nearly 2 per cent of the world’s total market capitalisation.

‘Further, equity returns in the Middle East have historically demonstrated a low correlation to the US, developed, and even emerging markets, and may be a source of portfolio diversification.’

The WisdomTree Middle East Dividend Fund provides investors with exposure to around 70 dividend-paying companies listed in Bahrain, Egypt, Jordan, Kuwait, Morocco, Oman, Qatar and the United Arab Emirates. The fund has an expense ratio of 0.88 per cent.

WisdomTree is an ETF sponsor and index developer using its own fundamentally weighted index methodology. It also licenses its indices to third parties for proprietary products and offers a platform to promote the use of WisdomTree ETFs in 401(k) plans. Around USD4.5bn in assets currently are managed against the WisdomTree Indexes by the firms and third parties under licence.

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