ETF News Archive

Market Vectors Gulf States ETF Begins Trading

Van Eck Global announced the listing of the Market Vectors Gulf States Index ETF (MES) which invests in the markets of Bahrain, Kuwait, Oman, Qatar and United Arab Emirates (UAE).

MES tracks an index of companies either headquartered in countries belonging to the GCC or generating the majority of their revenues in countries belonging to the GCC.

At June 30, the index was concentrated in the banking, financial services and technology sectors, with banks and finance companies representing approximately 60% of the index.

The top three holdings were National Bank of Kuwait, Kuwait Finance House, and Emaar Properties, with weightings of approximately 8% each.

See the Van Eck Global directory for a complete listing.

State Street Launches 10 International Sector ETFs

State Street introduced 10 new ETFs that focus on international sectors. The new ETFs enable investors to target sectors while excluding US-listed securities.

Middle East Dividend ETF Launches

An ETF that provides broad exposure to securities listed in the Middle East was launched today.

The WidsdomTree Middle East Dividend Fund (GULF) provides exposure to 70 dividend-paying companies listed in Bahrain, Egypt, Jordan, Kuwait, Morocco, Oman, Qatar and the United Arab Emirates.

In addition to exposure to oil driven economies, the fund provides an opportunity to diversify risk.  According to WisdomTree, Middle East equity returns have historically demonstrated a low correlation to the U.S.

New Africa ETF Introduced

Van Eck Global launched the Market Vectors Africa Index ETF (AFK) today.

The new ETF enables investors to access a fast growing market and reach for opportunities beyond the traditional emerging markets.

The ETF tracks the Dow Jones Titans 50 Index.  The index covers 11 countries in Africa and includes offshore companies that generate the majority of their revenue in Africa.  The largest sector weightings are Banking, Basic Resources, and Oil & Gas.

Leading holdings include Mobile Telecommunications, Tullow Oil, and Sasol Ltd.

Invesco PowerShares introduced a Middle East - North Africa ETF in June with the MENA Frontier Countries Portfolio (PMNA).  Clic

ETF Assets Down $37 Billion in June

The June numbers are in and ETF assets declined $37 billion for the month according to State Street's June U.S. ETF Snapshot report.

The decline was due in large part to significant negative performance in the global equity markets.

ETF assets totaled $575 billion at the end of the month across 23 managers and 698 ETFs.  22 ETFs were launched and 7 were liquidated in June.

Middle East - North Africa ETF Begins Trading

PowerShares MENA Frontier Countries Portfolio (PMNA) was launched today.

The fund is based on an index of the largest and most liquid securities of companies domiciled in Middle Eastern and North African countries that have smaller economies or less developed capital markets than traditional emerging markets. The Index currently includes securities domiciled in: Egypt, Morocco, Oman, Lebanon, Jordan, Kuwait, Bahrain, Qatar and United Arab Emirates.

Claymore launched the Claymore/BNY Mellon Frontier Markets ETF (FRN) in June.