SSgA SPDR launches “beyond BRIC” ETF on NYSE

Dec 6th, 2013 | By | Category: Equities

State Street Global Advisors (SSgA), sponsor of the SPDR line-up of exchange-traded funds, has announced that the SPDR MSCI Beyond BRIC ETF (EMBB) has begun trading on the NYSE Arca.

SSgA  SPDR launches “beyond BRIC” ETF on NYSE

The SPDR MSCI Beyond BRIC ETF (EMBB) provides exposure to less widely followed emerging markets such as Mexico.

The ETF tracks the performance of the MSCI Beyond BRIC Index, which is comprised of companies in the MSCI Emerging Markets Index, excluding constituents in the MSCI BRIC Index.

The ETF offers investors an opportunity to access emerging market economies that have not received as much attention as the BRICs (Brazil, Russia, India and China), which represent more than 40 percent of the MSCI Emerging Markets Index.

James Ross, senior managing director and global head of SPDR ETFs at SSgA, said: “The BRIC countries have been significant drivers of performance among emerging markets in the past, but have taken on many of the characteristics of developed economies over the last decade. Consequently, correlations between BRIC indices and developed market indices are growing.”

He added: “In providing targeted exposure to countries in the next tier of emerging markets, the SPDR MSCI Beyond BRIC ETF is a compelling solution for investors seeking to diversify their international allocation in economies that are poised for growth.”

As of October 31, 2013, the index was composed of 505 securities domiciled in 17 different countries including South Korea, South Africa, Taiwan and Mexico. To ensure diversification, the weight of each country is capped at 15 percent each quarter.

The fund has an expense ratio of 0.55 percent.

SSgA manages more than $360 billion in SPDR ETF assets worldwide (as of September 30, 2013) and is one of the largest ETF providers globally.

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