New-York based Global X Management has released its Brazil Mid Cap ETF on NYSE Arca.
The firm claims this is the first ETF to offer investors targeted access to domestic Brazilian enterprises that are experiencing rapid growth. The fund, which has a total expense ratio of 0.69%, comprises 40 companies with market capitalization in the range of two billion dollars to $10bn, including names such as the mobile technology company Tele Norte Leste. The underlying Solactive Brazil Mid Cap index is weighted by free float market capitalization, with the top three components consisting of CPFL Energia SA, Cia Energetica de Minas Gerais, and All America Latina Logistica. Glo...
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