Global X Management has listed an ETF providing exposure to the Chinese materials market on the NYSE Arca exchange in the US.
The China Materials ETF tracks the S-Box China Materials index, a fee float adjusted, capitalisation weighted benchmark that measures the performance of the materials sector in the Chinese economy.
The materials market sector, defined by Structured Solutions, includes companies involved in chemicals, metals and mining, forestry and paper products.
The metals and mining sector represented 66% of the index and chemicals constituted 34%, as of 30 December 2009.
Global X Management CEO Bruno del Ama says China's gross domestic product is expected to expand 9.4% this year, after increasing 8.5% last year.
He adds: "The country's economic upswing will help drive demand for materials in 2010 and beyond."
The latest launch adds to a range of China-based funds released by the asset management company, including funds tracking the consumer, financial and energy sectors.
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