The Santiago Stock Exchange expects to launch an exchange traded fund tracking Chilean stocks by the end of 2012, according to a report.
The exchange this week signed an agreement with Brazil’s Banco Itau’s general fund manager to create ETF shares that will track the blue-chip IPSA index, the broader IGPA and the smaller Inter-10 indexes, Dow Jones reports.
Only one ETF offering exposure to Chile is currently on the market — the iShares MSCI Chile Index Fund (NYSEArca: ECH), according to the report. [Chile ETFs Boosted by Rising Copper Prices]
“We expect to have the first ETF in November,” said Banco Itau Chile Chief Executive Boris Buvinic. The first ETF will track the IPSA index, Dow Jones reported.
“We aim to develop an ETF industry with not only index ETFs but also with sector and fixed-income ETFs in the future,” added Santiago Stock Exchange Chief Executive Jose Antonio Martinez.
The Chile ETF is up about 20% year to date.
iShares MSCI Chile Index Fund
