Global X is planning to further extend its global exchange traded fund (ETF) coverage by filing for funds aimed at the economies of Norway and Pakistan.
Global X is setting its sights on new locales. The firm is planning two new funds: one focused on Norway, the other aimed at the frontier market of Pakistan.
ETF Professor for Benzinga says that the country’s oil reserves and strong economy make an ETF specific to this region logical. Global X issues the Global X FTSE Nordic 30 ETF (NYSEArca: GXF), so they’re no stranger to the region. If you can’t wait to get your Norway exposure, the country accounts for about 20% of GXF. [More on GXF.]
Global X is also looking to launch a fund aimed at Pakistan, a true frontier market. Pakistan boasts the world’s 27th largest economy in terms of purchasing power, and the 48th largest in absolute dollar terms. Its economy encompasses textiles, chemicals, food procession and agriculture, according to Wikipedia.
The filings come days after Global X filed to launch a series of equity precious metals funds, as well. [More on the Global X Filing.]
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