EGA Emerging Global Shares has filed for a new line of seven exchange-traded funds that would center on BRIC nations and their economies. Six of the funds target infrastructure and mid cap stocks, while the remainder is set to track a broader index of Asian companies.

The new funds filed with the SEC are:

1. Emerging Global Shares INDXX India Infrastructure Index Fund

2. Emerging Global Shares INDXX China Infrastructure Index Fund

3. Emerging Global Shares INDXX Brazil Infrastructure Index Fund

4. Emerging Global Shares INDXX India Mid Cap Index Fund

5. Emerging Global Shares INDXX China Mid Cap Index Fund

6. Emerging Global Shares INDXX Brazil Mid Cap Index Fund

7. Emerging Global Shares INDXX Growing Asia Large Cap Index Fund

All of the funds seek maximum diversification, opting to limit single companies to no more than 10% of the index. The goal of this strategy is to fix the common under-diversification problem prevalent among emerging ETFs. The infrastructure funds will be comprised of 50 stocks for the India fund and 30 for Brazil and China, according to the SEC filing.

The Mid-Cap variety funds will seek out companies headquartered in China, India and Brazil. The Indian fund will require that the companies are smaller than the smallest stock in the S&P CNX Nifty Index, while the Chinese fund will invest in companies ranging in size from $500 million to $5 billion. Brazil’s fund will be based upon slightly smaller companies that range between $400 million to $4 billion.

The Growing Asia Large Cap Index Fund seeks to track the returns of the top 50 large cap stocks in China, India, Malaysia, Thailand, and the Philippines, and it will dedicate half the funds to Chinese and Indian stocks.

Capitalizing upon the current popularity of emerging ETFs, Emerging Global Advisors has launched its second exchange-traded fund of 2009. The new fund, named Emerging Global Shares Dow Jones Emerging Markets Titans Composite Index Fund (EEG: Quote, Profile, Advanced Chart, News), seeks to track the Dow Jones Titan Index, but with several amendments to the original index.

According to a press release, the fund is weighted by country as follows:

China Offshore: 20.43%
Brazil: 20.29%
India: 18.15%
Russia: 14.24%
Mexico: 10.07%
South Africa: 8.30%
Chile: 2.74%
Malaysia: 1.85%
Indonesia: 1.53%
Kuwait: 1.04%

The new ETF will invest in 100 of the top stocks of the Dow Jones Emerging Market Titan Index. To protect against bubble investments, the fund will ensure that no sector has more than 10% of the vested interest of the fund. The fund is just one of 10 sector-based ETFs Emerging Global Advisors plans to launch in the near future.

The Emerging Global Shares Dow Jones Emerging Markets Titans Composite Index Fund will trade on the NYSE Arca with an annual expense of .75%.

Barclays Bank has provided a diversified opportunity to invest in various currencies of the Asian region. According to the Mondo Visione article, Barclays has listed a new ETN on the NYSE Arca that gives access to eight different currencies within emerging markets of Asia. The new ETN, known as the Barclays GEMS Asia 8 ETN (AYT), will follow the Barclays Global Emerging Markets Strategy (GEMS) Asia 8 Index. Mondo Visione has listed the eight markets and associated currencies that are included in the new note: Indonesian rupiah, Indian rupee, Philippine peso, South Korean won, Thai baht, Malaysian ringgit, Taiwanese dollar, and Chinese yuan.

Barclays Global Investors has announced the launch of its newest iShares ETF to capture a broad and diversified piece of various Asian markets. Michael Latham, CEO of U.S. iShares at Barclays is quoted to say, “Since iShares launched the first pure mainland China ETF for U.S. investors in 2005, investors have continued to ask for deeper access to the Asian markets.” Market Wire explains that the new ETF, known as iShares MSCI All Country Asia ex Japan Index Fund ETF (AAXJ), will provide access to equity markets across Asia, such as China, Hong Kong, India, Indonesia, Malaysia, Pakistan, Philippines, Singapore, South Korea, Taiwan, and Thailand. AAXJ is now listed on the NASDAQ Stock Market.

In an attempt to draw in Islamic investors, Japans Daiwa Asset Management has developed an ETF to capture the essence of Islamic principles, which will be the first of its kind to trade on the Singapore Exchange. The Reuters article identifies the new ETF, known as Daiwa FTSE Shariah Japan 100 ETF, to be a fund made up of Japanese-tracking companies that comply with Islamic values. While neighboring Malaysia has taken the lead in global development of Islamic finance, Singapore has made strong move to promote Islam with the new ETF.