Global X, the New York-based exchange traded funds issuer known for its unique lineup of emerging and frontier markets funds, became the first U.S. ETF sponsor to list funds in Colombia.
Global X said it is listing thee of its ETFs on Colombia’s Bolsa de Valores de Colombia. Not surprisingly, one of the firm’s funds that will trade in Colombia is the Global X FTSE Colombia 20 ETF (GXG) , the first Colombia-specific ETF made available to U.S. investors. GXG debuted in February 2009 and has over $130 million in assets under management. [Latin America ETFs Worth a Look]
“This is yet another exciting innovation for Global X Funds,” said Bruno del Ama, chief executive officer, in the statement. “After extensive work with Colombian regulators and the Colombian stock exchange, we are proud to be the first foreign issuer to bring ETFs to Colombian investors.”
The news from Global X jibes with moves by other U.S. ETF sponsors to gain Latin American listings. Earlier this month, WisdomTree (WETF), the fifth-largest U.S. ETF sponsor, said Chilean regulators approved three additional WisdomTree ETFs for sale to Chilean pension funds, bringing the number of WisdomTree ETFs available to Chilean pensioners to 13. [Latin America: A New Frontier for ETF Industry Growth]
State Street’s (STT) State Street Global Advisors, the second-largest U.S. ETF issuer, is also a force in Chile, where it offers its nine sector SPDR ETFs and industry funds.
Colombia is South America’s second-largest economy behind Brazil. Global X had $2.5 billion in managed assets as of the end of October.