Changes Coming for Global X S&P/TSX Venture 30 Canada ETF
Global X announced today it is changing the index, name, ticker, expense ratio and investment objective of the Global X S&P/TSX Venture 30 Canada ETF (NYSE: TSXV). The new version of the fund, which debuted in March 2011, will feature an expense ratio of 0.69 percent compared with current annual fees of 0.75 percent.
The Global X S&P/TSX Venture 30 Canada ETF, which is primarily comprised of Canadian small-cap mining companies, will change its name to the Global X Junior Miners ETF and track the Solactive Junior Miners Index. The fund currently tracks the S&P/TSX Venture 30 Index.
The Solactive Junior Miners Index has 100 components compared to 30 in the S&P/TSX Venture 30 Index, according to Global X.
Global X is also changing the ETF's ticker to "JUNR," though the fund will remain trading on the New York Stock Exchange. The changes will take effect on or around September 3, 2012, Global X said in a statement.
The fund intends to focus its investments on small-capitalization mining companies including those engaged in mining, producing, smelting, and/or refining materials including but not limited to gold, silver, copper, aluminum, titanium and nickel, according to the statement.
For more on TSXV, click here.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Tags: Global X