Global X Funds has announced that its Global X FTSE Greece 20 ETF (NYSE Arca: GREK) will begin tracking the MSCI All Greece Select 25/50 Index as of 1 March 2016. The fund, which currently tracks the FTSE/ATHEX Custom Capped Index, will subsequently change its name to the Global X MSCI Greece ETF.

The MSCI All Greece Select 25/50 Index represents a broad range of large-cap equities closely tied to the Greek economy.

The MSCI All Greece Select 25/50 Index represents the performance of a broad universe of Greece-related equities, including stocks listed on the Athens Stock Exchange and firms headquartered in Greece or conduct the majority of their operations within Greece. The methodology includes a market capitalization screen (selecting all securities with a free float adjusted market capitalization greater than or equal to $200m) and a liquidity screen (selecting all securities with a 3-month annualized traded value greater than or equal to $25m).

Whereas the FTSE/ATHEX Custom Capped Index only tracks the performance of the largest 20 companies in the FTSE/ATHEX Large Cap Index, the MSCI 25/50 Index allows for a wider spectrum of firms as long as liquidity and market cap requirements are satisfied. Furthermore, the methodology is applied so that no issuer has a weight above 25%, and the sum of weights of all issuers with weights above 5% does not exceed 50%. The index will be reviewed quarterly in February, May, August and November.

As of 29 February 2016, the ETF manages nearly $200m in assets. Total annual management fees of 0.61% apply.