State Street Global Advisors (SSgA), the asset management arm of State Street Corporation (NYSE:STT), today announced the SPDR MSCI Beyond BRIC ETF (Symbol: EMBB) began trading on the NYSE Arca on …
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December 5, 2013. 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 percent 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,” said 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 SPDR MSCI Beyond BRIC ETF 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 October 31, 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 percent each quarter. The SPDR MSCI Beyond BRIC ETF’s expense ratio is 0.55 percent.
SSgA manages more than $360 Billion in SPDR ETF assets worldwide (as of September 30, 2013) and is one of the largest ETF providers globally.
Source: ETFWorld – State Street Global Advisors (SSgA)
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