Global X Funds, a New York based exchange traded funds provider, has debuted the Nigeria Index ETF (NGE) and the Central Asia & Mongolia Index ETF, listed on NYSE Arca.
In a bid to offer investors a cost-efficient way to access a country with significant long-term growth potential, the NGE provides exposure to the largest and most liquid companies in Nigeria as well as companies that derive a significant amount of revenues from the country.
Designed to offer cost-effective exposure to hard to access countries, the Central Asia & Mongolia Index ETF (AZIA) invests in foreign listings of Central Asian companies as well as in organizations that obtain significant revenues from the region.
Global X Funds CEO Bruno del Ama said, "The launch of NGE and AZIA have expanded our offerings to include frontier markets — investment themes we stand behind due to their long-term potential and lower correlation with other markets."
The Nigeria Index ETF tracks the Solactive Nigeria Index, while the Central Asia & Mongolia Index ETF tracks the Solactive Central Asia & Mongolia Index.
Having $1.8bn in managed assets as of 22 March 2013, the fund provider caters exchange-traded funds that target income, commodity producers, developed markets, emerging markets, and special opportunities fund suites.