FlexShares Files Plans for Emerging Markets ETF
FlexShares, the ETF unit of Northern Trust (NASDAQ: NTRS), has filed plans for the FlexShares Morningstar Emerging Markets Factor Tilt Index Fund (NYSE: TLTE). The FlexShares Morningstar Emerging Markets Factor Tilt Index Fund will charge 0.65 percent per year.
With the filing for the new fund including a ticker and expense ratio, it might be reasonable to expect the fund is close to launching. News of the new FlexShares fund was reported by Index Universe earlier today.
TLTE looks like it could be an emerging markets version of the FlexShares Morningstar U.S. Market Factor Tilt Index ETF (NYSE: TILT). That ETF debuted just over a year ago and has raked in an impressive $127.7 million in assets under management. TILT's net expense ratio is 0.27 percent.
FlexShares currently sponsors four ETFs, including TILT, but the firm also filed plans for six new dividend funds in August.
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