The Group of Eight summit this week is focusing on aid for Africa, and the current and forthcoming exchange traded funds (ETFs) that focus on frontier markets could benefit if it takes.
German Chanellor Angela Merkel urged the world leaders to take a tough stance on Zimbabwe after President Robert Mugabe’s win, reports Malcolm Foster for the Associated Press. President Bush called for wealthy nations to provide mosquito nets and other aid to prevent deaths from mosquito bites.
Aid for the continent was central in the G-8 summit three years ago, when leaders pledged to increase aid by $50 billion a year by 2010, with half going directly to Africa.
Among the top African frontier markets held by the Claymore/BNY Mellon Frontier Markets (FRN) are Egypt, 17.4%, and Nigeria, 3.3%. Other countries seen in the fund in smaller amounts include: Morocco, Ghana, Kenya, Malawi and Zimbabwe.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Mr. Lydon serves as an independent trustee of certain mutual funds and ETFs that are managed by Guggenheim Investments; however, any opinions or forecasts expressed herein are solely those of Mr. Lydon and not those of Guggenheim Funds, Guggenheim Investments, Guggenheim Specialized Products, LLC or any of their affiliates. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.