NEW YORK, June 22 /PRNewswire/ -- Global X Funds, the New York-based provider of exchange traded funds, launched today the Global X Brazil Mid Cap ETF (ticker: BRAZ). This is the first ETF in the world to offer investors targeted access to the rapidly growing medium size domestic Brazilian enterprises.
BRAZ offers exposure to 40 companies with market capitalization in the range of $2 to $10 billion, and includes names like cosmetics company Natura Cosmeticos, aeronautics company Embraer, real estate firm Cyrela Brazil Realty, mobile tech company Tele Norte Leste, food distributor Hypermarcas, and materials firm Metalurgica Gerdau. In contrast, currently existing Brazil ETFs may overweight exposure to mega-cap companies, particularly those in natural resources and with global rather than Brazil-based operations.
The Global X Brazil Mid Cap ETF tracks the Solactive Brazil Mid Cap Index. It is well diversified across the main sectors of the local Brazilian economy. The sector breakdown includes 20% utilities, 17% non-cyclical consumer, 16% industrial, 15% financials, 14% basic materials, 9% cyclical consumer, and 9% communications. BRAZ has a 0.69% expense ratio.
"Medium sized Brazilian enterprises offer access to on-the-ground, established businesses that reflect the Brazilian growth story, while staying above a minimum size to avoid excessive risk," says Bruno del Ama, CEO of Global X Funds. "Such companies are currently sparsely represented in existing exchange traded fund options, yet are poised to benefit the most from the country's solid macro fundamentals. The Brazil Mid Cap ETF provides efficient and diversified access to these localized growth themes."
The Global X Brazil Mid Cap ETF is the first of a family of Brazil ETFs. Remaining funds in the family include the Brazil Consumer ETF, Brazil Financials ETF, Brazil Industrials ETF, Brazil Materials ETF, and Brazil Utilities ETF. These other Brazil sector ETFs are not yet available for purchase.
ABOUT GLOBAL X FUNDS
Global X Funds is one of the most innovative and fastest growing ETF providers. This growth follows the launch of a family of China sector-specific ETFs and Silver and Copper miners ETFs. Global X Funds will continue to bring innovative tools to investors as indicated by recent filings with the SEC which include Lithium, Uranium, and Aluminum ETFs.
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Carefully consider the Funds' investment objectives, risk factors, charges, and expenses before investing. This and additional information can be found in the Funds' prospectus, which may be obtained by calling 1-888-GX-FUND-1 (1.888.493.8631), or by visiting www.globalxfunds.com. Read the prospectus carefully before investing.
Global X Management Company, LLC serves as an advisor to the Global X Funds. The Funds are distributed by SEI Investments Distribution Co., which is not affiliated with Global X Management Company or any of its affiliates.
SOURCE Global X Funds