Barclays Global Investors released their first locally traded exchange traded funds (ETFs) for emerging markets. The launch of four Mexico-based iShares is proof of the ever-growing international markets. The four ETFs are traded like stocks on the Mexican stock exchange and track the local stock market’s Composite, Large-Cap index, Mid-Cap index and the Habita Index, according to CNN Money.
Around 37 billion pesos or $340 million, of the ETFs were sold in the initial public offering. Barclays chose Mexico because of it’s prior success with the U.S.-based iShares that are already trading on the Mexican market. The principle clientele on the Mexican market for these ETFs are the country’s pension fund managers.
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