Old Mutual launches emerging market ETF with zero fees

The African asset manager has listed the GlobalShares FTSE Emerging Markets fund on NYSE Arca, under a temporary zero-fee arrangement. The zero-fee will last until the end of January 2010, or until the net assets of the fund exceed $1bn, whichever is earlier. The firm plans to list up to four more global and emerging market ETFs in the US early next year, under the trading name of GlobalShares. Old Mutual is also planning to follow this with similar products for Europe and South Africa. Old Mutual Investment Group South Africa CEO Thabo Dloti says: "This is the first emerging market E...