SSgA’s SPDR MSCI Beyond BRIC ETF starts trading on NYSE Arca
State Street Global Advisors’ (SSgA) SPDR MSCI Beyond BRIC ETF (EMBB) has begun trading on the NYSE Arca.
The newest SPDR ETF offers investors an opportunity to access emerging market economies that have not received as much attention as the BRICs (Brazil, Russia, India and China), which represent more than 40 per cent of the MSCI Emerging Markets Index.
“The BRIC countries have been significant drivers of performance among emerging markets in the past, but have taken on many of the characteristics of developed economies over the last decade. Consequently, correlations between BRIC indices and developed market indices are growing,” says James Ross, senior managing director and global head of SPDR ETFs at SSgA. “In providing targeted exposure to countries in the next tier of emerging markets, the SPDR MSCI Beyond BRIC ETF is a compelling solution for investors seeking to diversify their international allocation in economies that are poised for growth.”
The fund seeks to track the performance of the MSCI Beyond BRIC Index, which is comprised of companies in the MSCI Emerging Markets Index, excluding constituents in the MSCI BRIC Index.
As of 31 October 2013, the index was comprised of 505 securities domiciled in 17 different countries including South Korea, South Africa, Taiwan and Mexico. To ensure diversification, the weight of each country is capped at 15 per cent each quarter. The SPDR MSCI Beyond BRIC ETF's expense ratio is 0.55 per cent.
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