Global X To Split Colombia ETF

Global X, the New York-based ETF issuer with $1.5 billion in assets under management and 26 ETFs currently trading, said it will split the Global X FTSE Colombia 20 ETF GXG 2-for-1 next month. GXG, the first ETF devoted entirely to the rapidly growing South American economic power, started trading in February 2009. Today, the ETF has $133.3 million in AUM. GXG closed at $40.05 on Wednesday. This split will take place for shareholders of record as of the close of business on April 8, 2011, and will be payable after the close of trading on April 11, 2011. Fund shares will begin trading on a split-adjusted basis on April 12, 2011, Global X said in a statement. While GXG had the market cornered on Colombia-specific ETFs for more than two years, Global X got some competition recently in the form of the Market Vectors Colombia ETF COLX. That ETF has attracted $2 million in AUM since its March 14 debut. Colombia is one of the fastest growing South American economies and is the continent's third-larges oil producer behind Venezuela and Brazil.