Bringing you live news and features since 2006 

Global X Funds launches first Greece ETF

RELATED TOPICS​

Global X Funds, the New York based provider of exchange traded funds, has launched the Global X FTSE Greece 20 ETF (NYSE Arca Ticker: GREK), the first ETF listed on the New York Stock Exchange targeting Greece.

“Global X Funds strives to facilitate access to foreign markets. Whether bullish or bearish, this new ETF allows investors to take a viewpoint on the recent news coming out of Greece,” says Bruno del Ama (pictured), chief executive officer of Global X Funds.

Since reaching a peak market capitalisation of over USD220 billion in 2007, the market cap of the Athens Stock Exchange has fallen nearly 90% to under USD28 billion as of November 2011 (Bloomberg).  While there is no guarantee that the Greek economy will recover to previous levels, current valuations may create an attractive entry point for the long term investor.    
 
The Global X FTSE Greece 20 ETF tracks the FTSE/ATHEX 20 Capped Index which is designed to reflect broad based equity market performance in Greece.  The index is comprised of the top 20 companies listed on the Athens Exchange ranked by full market capitalisation, providing investors with a comprehensive and transparent way to measure the performance of these companies.  As of December 1, 2011, the Underlying Index’s three largest stocks were National Bank of Greece, Coca-Cola HBC, and Greek Organisation of Football Prognostics SA.
 

Latest News

HSBC Asset Management’s (HSBC AM) ETF and Indexing business has passed USD100 billion in assets under management (AUM), reflecting its..
Amundi’s ETF Market Flows Analysis for April reveals that investors added EUR54.1 billion to global ETFs in April with equities..
VanEck has reached USD10 billion in assets under management in Europe for the first time in April 2024...
Global index revenues increased 9.3 per cent in 2023, totalling a record USD5.8 billion, according to a benchmark study published..

Related Articles

Dan Miller, IQ-EQ
With just over a week to go till T+1 settlement begins in North America, Canada and Mexico, time is of...
Emily Spurling, Nasdaq
Last October’s ETF Express US Awards 2023 found Nasdaq winning Best Index Provider – ESG ETFs and Best Index Provider...
Vinit Srivistava, MerQube
Index provider, MerQube, launched in 2019, with the aim of providing a “technology-driven answer to the most complex, rules-based investment...
Sean O' Hara
Pacer ETFs has announced the launch of three Cash Cows UCITS ETFs. The firm writes that this will give European...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by