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Barclays Launches First ETFs In Brazil

IndexUniverse Staff (December 3rd, 2008) Writes:
The three ETFs have initial portfolios totaling about (U.S.) $41 million in assets.

 

Barclays PLC launched three exchange-traded funds in Brazil on Dec. 2, the first ETFs from the world's biggest ETF manager for the Brazilian market. 

The Brazilian iShares tracks three indexes: 1) the Bovespa Index, which holds the 66 most-traded stocks on the main Brazilian stock exchange; 2) the BM&F Bovespa Mid-Large Cap Index, which holds 69 stocks representing the top 85% of the market capitalization on the Sao Paolo exchange (adjusted for liquidity); and 3) the BM&F Small Cap index, which holds 71 companies representing the bottom 15% of the exchange's market cap.

Brazil is one of Latin America's biggest fund markets, and the Bovespa's profile as a major global exchange, the largest in South America, has been raised in recent years. Barclays Global Investors has plans to significantly expand its ETF staff in its Sao Paolo

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