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Emerging Global Shares launches Brazil infrastructure ETF

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Emerging Global Shares, a dedicated emerging markets sector exchange-traded fund provider, has launched the Brazil Infrastructure Index Exchange-Traded Fund, the first ETF focused solely on the infrastructure sector in Brazil.

The fund invests in 30 of the largest publicly traded companies dedicated to the infrastructure industry in Brazil, and is designed to track the performance of the INDXX Brazil Infrastructure Index.

“Like China, Brazil has a rapidly growing middle class that demands the foundation of a functional and modern economy of a developed nation,” says Robert Holderith, president and chief executive of Emerging Global Shares. "Further, given the nation’s large population and urbanization trends, Brazil is greatly behind in its timeline to build out major infrastructure projects, all of which further emphasizes the need to expand their internal infrastructure system.”

The Brazil Infrastructure Index has an average market capitalization of USD11.7bn and the fund charges a net expense ratio of 0.85 per cent (gross expense ratio: 1.10 per cent).

The top five industry weightings of the index as of 31 December 2009 are metals and mining (14.25 per cent), diversified telecommunications (14.18 per cent), electric utilities (12.25 per cent), independent power producers (11.27 per cent) and transportation infrastructure (8.15 per cent), followed by wireless telecommunication services, machinery, water utilities, aerospace and defence, and media.

Richard Kang, chief investment officer and director of research at Emerging Global Advisors, says: “The opportunity in Brazil is about more than the upcoming World Cup and Olympic games. The Brazilian government has committed resources to their infrastructure expansion, and it’s in the interest of the government, the country’s growing corporate sector and the average citizen that this build out happen, and happen fast.”

The Emerging Global Shares Brazil Infrastructure Index Fund is the sixth ETF to be introduced by Emerging Global Shares. Other funds include the Emerging Global Shares China Infrastructure Fund, Emerging Global Shares Emerging Markets Metals & Mining Fund, Emerging Global Shares Emerging Markets Energy Fund, Emerging Global Shares Emerging Markets Financials Fund and the Emerging Global Shares Emerging Markets Titans Composite Index Fund.

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