Emerging Global Advisors (EGA), the investment advisor to the EGShares exchange-traded funds, has renamed the EGShares Emerging Markets Domestic Demand ETF (EMDD) as the EGShares EM Strategic Opportunities ETF (EMSO).
Additionally, the Fund's underlying index, the S&P Emerging Markets Domestic Demand Index, was renamed the S&P Emerging Markets Strategic Opportunities Index. The Fund's expense ratio is 0.65 per cent net and 0.85 per cent gross.
"We continue to believe that the best long-term growth opportunity in emerging markets is in the growth of domestic demand," says EGA Chief Product and Marketing Officer Marc Zeitoun. "By framing this theme within the context of a strategic opportunity, we are better reflecting that the fund is a broadly diversified emerging market core solution."
The EGShares EM Strategic Opportunities ETF seeks to capture predominantly large and mid-cap companies across 12 emerging markets. Emerging markets represents nearly five times the estimated consumption growth of developed markets and areas of emerging market economies like the consumer, telecommunications, health care and utilities businesses stand to benefit from this growth. The fund does not invest in energy and commodities.