S&P Dow Jones Indices has licensed the S&P MILA 40 Index to Horizons ETFs Group to serve as the basis for an exchange-traded fund.
The ETF will be listed on the Bolsa de Valores de Colombia (BVC) and will be the first Andean equity focused ETF available in Colombia.
The S&P MILA 40 Index, launched in 2011, was the first in a series of indices for Latin America's second-largest market. The index gauges the returns of the largest and most liquid stocks trading on the Mercado Integrado Latinoamericano (MILA) platform, an integrated trading venture formed by the Chile, Colombia and Peru stock exchanges.
Alka Banerjee, managing director of global equity indices at S&P Dow Jones Indices, says: "We are pleased to license the S&P MILA 40 Index to Horizons ETFs. As growth and development of the Andean equity markets continue, the S&P MILA 40 Index provides a transparent and relevant benchmark for this important region of the world."
Howard Atkinson, managing director of Horizons ETFs Management (LATAM) and global head of sales and marketing for the Horizons ETFs Group, says: "We're very pleased to expand our global partnership with S&P Dow Jones Indices. This is the second international market we've entered where the first ETF we launched has replicated an S&P index. The S&P MILA 40 Index offers a way for investors to follow the tremendous growth potential of the MILA region."