First Trust cross-lists additional ETF in Mexico
First Trust Advisors has cross-listed an additional ETF on the Mexican stock exchange, the Bolsa Mexicana de Valores and/or the Bolsa Institucional de Valores.
The First Trust International Equity Opportunities ETF (FPXI) is based on IPOX International Index, which measures the performance of the 50 largest and typically most liquid companies domiciled outside the US within the IPOX Global Composite Index (the “composite index”). The composite index is constructed and managed to provide a broad and objective view of global aftermarket performance of recent initial public offerings (“IPOs”) and spin-offs in both emerging and developed countries during their first 1,000 trading days.
“Recent IPOs and spin-offs represent an important segment of the international stock market that is often absent from investors’ portfolios,” says Ryan Issakainen, CFA, Senior Vice President, ETF Strategist at First Trust. “This ETF provides a systematic strategy for investors to gain exposure to many of these stocks before they are added to broad international index funds and ETFs.”
“We are pleased to expand our Mexico cross-listings to include the First Trust International Equity Opportunities ETF. FPXI offers strategic allocation to international IPOs, powered by IPOX’s long history and academic rationale for researching and investing in new listings globally,” says April Reppy Suydam, Head of Latin America Distribution, First Trust.