Horizons ETFs Management (USA) LLC, announced that it has launched the Horizons Korea KOSPI 200 ETF. This is the first ETF listed in the United States that gives investors exposure to the KOSPI 200 Index, an important Korean equity index…
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that holds 200 blue chip companies listed on the Korea Exchange HKOR seeks investment results that, before fees and expenses, generally correspond to the performance of the KOSPI 200 Index.
The KOSPI 200 is a free float-adjusted, market capitalization weighted index, which is comprised of 200 blue chip companies listed on the KRX. It uses factors such as market and sector representation and liquidity to determine stock weightings.
HKOR will be the first country-specific ETF launched by Horizons ETFs in the U.S. The KOSPI 200 is a widely used Korean equity benchmark to access Korea in Asia. It also has a robust derivatives market that provides a strong depth of liquidity for ETFs that track the index.
“HKOR will be the lowest-cost (0.38% Total Gross Expense Ratio) and most broadly diversified Korean equity ETF in the U.S.” said Howard Atkinson, Managing Director, Horizons USA. “Korea is often listed as an emerging market economy, but with a well-established manufacturing base and steady GDP growth, it has an economic profile that is more in line with well-established developed markets, generally making it a more stable entry point into emerging market investing.”
Horizons USA’s global affiliates already have experience running KOSPI 200 ETF mandates in some of their other global ETF markets, such as Korea and Hong Kong.
“The launch of HKOR is a perfect example of how our firm can harness our global capabilities to deliver exceptional ETF solutions for the local markets we serve,” said Taeyong Lee, president of the Global Business Unit of Mirae Asset Global Investments Co, Ltd. “We have extensive experience in running KOSPI 200 mandates on our global ETF platform, so it was a natural progression that we leverage that expertise to give U.S. investors low-cost exposure to the most broadly diversified Korean equity benchmark.”
Source: ETFWorld – Horizons ETFs Management (USA) LLC
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