American provider Global X has launched an ETF focusing exclusively on Argentina, listed on NYSE Arca.
The FTSE Argentina 20 ETF tracks the performance of the 20 largest and most liquid companies that directly participate in the Argentine economy but are not listed in the country.
Argentina is the second largest economy in South America after Brazil, having seen an average GDP growth rate of 6.7% over the past five years. The country is a strong commodities exporter and Global X says its fund may enable investors to benefit from increased food demand across the emerging world.
The company's investment profile for Argentina also suggests the country is to benefit from investment in infrastructure and increased foreign exchange reserves.
The Global X FTSE Argentina 20 ETF, trading at a cost of 0.75% on NYSE Arca, is the provider's sixth first-to-market product launch already this year. Such rapid expansion looks set to continue, according to a recent filing with the American Securities and Exchange Commission.
Global X's documentation reveals plans for five international small-cap equity ETFs, a UK mid-cap fund, individual rare earths, strategic metals and fertilizer/potash ETFs, as well as SuperDividend and Canada Preferred ETFs.
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