Global X Funds, the New York based provider of exchange traded funds, is changing the index, name, ticker, expense ratio and investment objective of the Global X S&P/TSX Venture 30 Canada ETF.

Currently the fund is mostly comprised of small-capitalisation companies based in Canada that operate within the mining and energy sectors. Upon implementation of the change, the fund's new objective will be to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Junior Miners Index. The Solactive Junior Miners Index is designed to track the market performance of small-capitalisation mining companies globally, and therefore the geographic scope of the fund will expand accordingly.  The fund intends to focus its investments on small-capitalisation mining companies including those engaged in mining, producing, smelting, and/or refining materials including but not limited to gold, silver, copper, aluminium, titanium and nickel. 

Fund shareholders are not required to take any action as a result of this announcement. The changes will take effect on or around 3 September, 2012.“

The change positions the fund as the first global junior mining ETF across metals," says Bruno del Ama (pictured), CEO of Global X Funds.

The fund also expects to gain certain cost efficiencies associated with the change in investment objective, and upon implementation of the change the total annual expense ratio of the fund will be reduced from 0.75% to 0.69%.