Although Indonesia does not have an exchange traded fund (ETF) available for U.S. investors, the Indonesian Fund (IF) closed-end fund (CEF) is available. Currently it is down 2.0% year-to-date.

IF has been down the last couple of days after the country was ravaged by three powerful earthquakes within 24 hours. The first quake that hit western Indonesia had a magnitude of 8.4, followed by another one in the same area with a magnitude of 7.8 and then a 6.2-magnitude one in the east, according to the U.S. Geological Survey. The largest earthquake created nearly 10-foot-high waves on Sumatra island yesterday and the other two quakes set off tsunami alerts, reports Anthony Deutsch for the Associated Press.

After the giant, deadly tsunami in December of 2004, Indonesia’s economy fought back with a vengeance, which is reflected in IF. The country’s economy grew 5.5% last year and is expected to grow 6.2% this year and 6.5% next year, according to Carl Delfeld for ETF XRAY. Also, corporate earnings are projected to grow more than 20% next year, which would be the best performance in Asia. With numbers like that, keep an eye on Indonesia. Hopefully ETF providers will take notice too and an Indonesian ETF will be available soon.

Tags: Asia