Global X Funds has expanded its Latin America fund suite with the launch of the Global X FTSE Andean 40 ETF, the first exchange traded fund globally to target the region.
The Global X FTSE Andean 40 ETF launch is a testament to the economic powerhouse that Latin America has become. The Andean region, comprised of Chile, Colombia, and Peru, has been among the best performing stock markets in the world. The ETF will allow investors to take advantage of a pending agreement to merge the stock markets of Chile, Colombia, and Peru, which will create the second largest stock exchange in Latin America after Brazil’s and 50% larger than Mexico’s (World Federation of Exchanges, 2010).
“We are excited to provide a benchmark and investment vehicle to the combined Chile, Colombia, and Peru exchanges,” says Bruno del Ama, CEO of Global X Funds. “Because of its geographic size, the Andean region is an important investment opportunity underserved by the current Latin American ETF options.”
The Global X FTSE Andean 40 ETF tracks the FTSE Andean 40 Index, which is designed to measure the performance of the 40 largest and most liquid companies in the Chilean, Colombian, and Peruvian markets. As of January 27, 2011 the three largest components for AND were Southern Copper Corp, Minas Buenaventura, and Pacific Rubiales Energy.
