Market Overview

Global X Argentina ETF To Debut On March 3

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Global X, the New York-based ETF issuer with 22 ETFs currently on the market and nearly $1.5 billion in assets under management, announced its Global X FTSE Argentina 20 ETF will make its trading debut on Thursday March 3 on the New York Stock Exchange under the ticker "ARGT."

ARGT will feature an expense ratio of 0.75% and will be the first Argentina-specific ETF available to U.S. investors.

The FTSE Argentina 20 Index is designed to measure performance of the top 20 companies within the investable universe of Argentina-domiciled companies or companies that have substantial revenues or assets in Argentina, Global X said in a statement.

There are 15 Argentine ADRs currently trading on U.S. exchanges. Oil company YPF (NYSE: YPF) is the largest by market value and other familiar names include farmland firm Cresud (Nasdaq: CRESY) and e-commerce firm Mercadolibre (Nasdaq: MELI).

ARGT's timing could prove to be good as Argentina is coming off 9.1% GDP growth in 2010 and President Cristina Fernandez recently announced plans to help the country achieve 5% annual GDP growth over the next decade.

Global X recently debuted the Global X FTSE Andean 40 ETF (NYSE: AND), which tracks Chile, Colombia and Peru and the firm already a foothold in the South America ETF niche with the Global X/InterBolsa FTSE Colombia 20 ETF (NYSE: GXG) and three Brazil-specific ETFs.

 

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