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Old Mutual launches ETF with exposure to 23 developed countries

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Old Mutual Global Index Trackers, a South Africa based index tracker fund manager specialising in developed countries ex US, has launched its second exchange-traded fund for American investors: GlobalShares FTSE Developed Countries ex US Fund.

The fund is designed to offer American investors the opportunity to gain exposure to 23 developed countries, including Canada, Japan, the UK, France and Germany, without overlapping their US stock portfolios.

The fund seeks to replicate the performance of the FTSE Developed ex US Index, which is comprised of over 1,400 stocks and may be attractive to those seeking the middle ground between a still nervous domestic economy and more uncertain developed countries ex US.

GlobalShares products are being introduced in order to offer a diversified suite of investment options for retail and institutional investors. The fund can be used in conjunction with GlobalShares Developed Countries ex US Fund (GSR) to adjust asset allocation between developed and developed countries ex US.

“After the successful launch of GSR, we are excited to introduce GSD and will be rolling out an additional three ETFs within the coming weeks,” says Tendai Musikavanhu (pictured), chief executive of Old Mutual Global Index Trackers. “We continue to seek to deliver top level product and diversification, while also maintaining our commitment to providing low-cost investor access to emerging and developed markets outside the US.”

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