New ETF Provides Access to Various Emerging Economies
Investors will now have additional access to many emerging markets through the use of a new ETF issued by Van Eck Global.
The new ETF, known as Market Vectors Emerging Markets Local Currency Bond ETF (EMLC), is described in the press release as tracking a “basket of bonds issued in local currencies by emerging market governments.” EMLC will track the J.P. Morgan Government Bond Index-Emerging Markets Global Core Index which is said to capture local currency bonds of 13emerging market countries around the world. Latin America, Eastern Europe, Africa and Asia are represented among the markets in the fund.
Joyce Chang, Head of Global Emerging Markets and Credit Research with J.P. Morgan adds, EM countries have driven global growth in recent years and have become one of the fastest growing asset classes, providing an important source of diversification for investors.”
The new ETF will trade with a net expense ratio of 0.49%.
Twelve new currency ETNs are now available for trade on Xetra. ETF Securities has issued the unique group of ETNs, which focus on foreign exchange rates with the euro, as well as emerging market currency.
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