Global X Funds, the New York based provider of exchange traded funds (ETFs), today launched the Global X S&P/TSX Venture 30 Canada ETF (NYSE Arca: TSXV) – the first ETF globally targeting companies on Canada’s junior exchange, the TSX Venture, for emerging companies.
TSXV provides investors with a wide range of commodity exposure via exploration and junior mining companies listed on the TSX Venture Exchange. The fund also may benefit from continued demand for commodities from fast-growing emerging market countries combined with the quantitative easing policy in the US. These particular companies have low production costs, making them prime acquisition targets for larger companies that are suffering from depleting commodity reserves (NASDAQ 2010).
"We are pleased to provide the first vehicle that easily tracks the S&P/TSX Venture 30 Index," says Bruno del Ama, CEO of Global X Funds. "Our innovative product allows investors access to a previously difficult to trade, illiquid market."
The Global X S&P/TSX Venture 30 Canada ETF tracks the S&P/TSX Venture 30 Index, which seeks to measure the performance of 30 of the largest and most liquid securities listed on the TSX Venture Exchange. As of March 14, 2011, the three largest components of the index were Atac Resources Ltd, Canacol Energy Ltd, and Rainy River Resources Ltd.