Global X, the issuer of exchange traded funds with $4 billion in assets under management as of July 2014, earlier this week announced index changes on two of its single-country ETFs.
The Global X MSCI Colombia ETF (GXG) swapped to the MSCI All Colombia Capped Index from the FTSE Colombia 20 Index. On Thursday, it was reported that GXG lowered its annual expense ratio to 0.61%, down 10% from the prior rate of 0.68%, according to a filing with the Securities and Exchange Commission. [Global X Lowers Fees on Colombia ETF]
GXG is the oldest and largest Colombia ETF. The fund launched in February 2009 and currently has $113.6 million in assets under management.
Global X’s Norway is now known as the Global X MSCI Norway ETF (NORW) after changing to the MSCI Norway IMI 25/50 Index from the FTSE Norway 30 Index.
NORW debuted in November 2010 and has $159.6 million in assets under management. With the index change, NORW now allocates over 30% of its combined weight Statoil (STO), Norway’s state-run oil company, and DNB NOR, according to Global X data.
NORW is up 8.3% this year while GXG is higher by nearly 12%.
Global X MSCI Norway ETF
ETF Trends editorial team contributed to this post.
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