May 1, 2014, 11:11 AM
- The iShares MSCI UAE Capped ETF (UAE) and Qatar Capped ETF (QAT) were filed two weeks ago and will launch before both countries will be reclassified from frontier markets to emerging by MSCI.
- Baer Pettit, Managing Director and Global Head of the MSCI Index Business, said: “MSCI’s reclassification of these countries and inclusion into our flagship Emerging Market Index reflects the broader global opportunity set available to international institutional investors today.”
- Each ETF will track the equity market of their namesake country, offering a broad exposure to the, soon to be upgraded, frontier economies; both will feature an expense ration of 0.61%.
- Other ETFs focused on the Middle East: GULF, GAF, MES, PMNA
Apr. 17, 2014, 1:19 PM
- The iShares MSCI UAE Capped ETF (UAE) and Qatar Capped ETF (QAT) were filed yesterday, a month before both countries will be reclassified from frontier markets to emerging by MSCI; the ETFs will track the equity markets of each.
- iShare also filed for the iSharesBond Dec 2016 Corporate Term ETF (IBDF), a fund which will track U.S. investment grade corporate bonds maturing at the end of 2016.
- Other ETFs focused on the Middle East: GULF, GAF, MES, PMNA
- Other Investment Grade U.S. Target Date ETFs: BSCE, BSCF, BSCH, BSCG, BSCI, IBCE, BSCK, IBCB, IBCC, IBDC, BSCJ, BSCM, IBDA, IBDB, IBCD, BSCL, IBDD
Feb. 19, 2014, 12:51 PM
- Invesco (IVZ) PowerShares announced that it will be shutting down 4 ETFs that had failed to gain traction in order to make way for new funds.
- The PowerShares KBW International Financial Portfolio (KBWX), MENA Frontier Countries Portfolio (PMNA), Dynamic MagniQuant Portfolio (PIQ) and Lux Nanotech Portfolio (PXN) will all close at the end of trading today.
- In totally these ETFs each had at least 3 years of trading, with PXN launching in 2005, but together had only $67 million in total assets.
- Related ETFs: PDP, QUAL, PWO, SIZE, IPF, IXG, AXFN, GAF
Jan. 15, 2014, 12:35 PM
- You could have made the same bear case against emerging markets 10 years ago and you would have missed a decade of outperformance, says Everest Capital chief Marko Dimitrijevic, rebutting Goldman's recommendation to cut holdings in the sector. "If you reduce or ignore emerging markets, you're going to miss on literally hundreds of companies that are great."
- Overall, Dimitrijevic overall return estimates are just slightly higher than Goldman's, but the real alpha is to be made in specific sectors - education in Brazil, infrastructure in Mexico, retail, cement, oil and gas in Colombia, and consumer plays in Saudi Arabia.
- Everest is most bullish on frontier markets, or, as Dimitrijevic calls them, "EM 2.0." "It's a secular opportunity that reminds us very much of what now-mainstream emerging markets were like 15 or 20 years ago."
- Everest had a big year in 2013, gaining 41.2%. Its dedicated Frontier fund rose 28.8%.
- Emerging market ETFs: EEM, VWO, DEM, EDC, DGS, EDZ, EEMV, EEB, SCHE, EDIV, IEMG, DVYE, BIK, EWX, EEV, BKF, PIE, CEW, ADRE, HILO, EUM, FNI, EET, GMM, PXH, EEMS, BBRC, EELV, FEMS, EEME, EMDD, BICK, EMCR, DBEM, FEM, EWEM, JEM, EVAL, EMLB, EMBB, EEHB, EGRW, TLTE, FNDE, EMSA, EMHD, EMDR, EMFT
- Frontier/MENA ETFs: FM, FRN, EMFM, AFK, GULF, GAF, MES, PMNA
Dec. 19, 2013, 11:00 AM
- The Invesco (IVZ) PowerShares Board of Trustees recently announced plans to make major changes to 10 funds, while shuttering 4 funds in early 2014.
- ETFs approved to undergo name, investment objective, underlying index, and investment policy and strategy changes in February 19th: PWO, PYZ, PEZ, PSL, PXI, PFI, PTH, PRN, PTF, PUI
- ETFs which will be shut down February 18th: KBWX, PMNA, PIQ, PXN
Aug. 28, 2013, 10:52 AM
- Guggenheim's BRIC ETF (EEB) - never a true BRIC fund because of a small allocation to Russia - will address that issue by changing its underlying index to the BNY Mellon BRIC Select DR Index from the BNY Mellon BRIC Select ADR index. As the new index name suggests, it will track global depositary receipts instead of just ADRs. The change will also allow the fund to own Hong Kong-listed China H-Shares for the first time.
- The Emerging Global Beyond BRICs ETF (BBRC) will change to a FTSE index which will allow frontier-market holdings for the first time. The year-old fund has had a tough time competing against established emerging market funds EEM and VWO, but the change should allow for a much different approach than those two giants.
- Other BRIC ETFs: FNI, BKF, BIK, EMDD, BICK.
- Frontier Market ETFs: FRN, PMNA, FM.
Apr. 3, 2013, 1:57 PMToday marks Global X's launch of the first ever single country ETF covering Nigeria (NGE). Existing Frontier market funds like FM and FRN currently allocate just a small portion of their holdings to Nigeria. NGE comes with an expense ratio of 0.68% vs. PMNA's 0.95%, EGPT's 0.94%, FM's 0.79% and FRN's 0.65%. | Apr. 3, 2013, 1:57 PM
Apr. 11, 2012, 12:53 PMInvesting in frontier markets is about to get a bit easier as MSCI launches its Frontier Markets 100 index with BlackRock set to launch an ETF to track it. The index has 100 companies across 21 countries, and with 60% of the value coming from the Middle East. | Apr. 11, 2012, 12:53 PM
Feb. 24, 2012, 1:30 PMJohn Burbank (video) of Passport Capital has put 15% of his $4B fund into Saudi Arabia which should benefit from a bigger opening of the market to foreigners (of which only 1% of the market is owned). Also helping, of course, is easy central bank money around the globe which should continue juicing oil. GAF +13.8% YTD. | Feb. 24, 2012, 1:30 PM
Nov. 28, 2011, 12:46 PM
While competitors are cutting back, Goldman Sachs (GS) is broadening its MENA equity research, initiating coverage on 80 new stocks, bringing the total to 121. Goldman's key theme is rising oil prices and the bank is looking at not only resource firms, but other beneficiaries like infrastructure and consumer spending.| Nov. 28, 2011, 12:46 PM
Jun. 8, 2011, 4:45 PMJohn Burbank is making downstream bets on oil by snapping up infrastructure plays in Saudi Arabia. As of May, Saudi investments make up nearly 11% of his flagship Global Strategy fund. Despite turmoil in the region, he says “The crisis isn’t affecting the long-term reality that this is where the oil is.” | Jun. 8, 2011, 4:45 PM
May 27, 2011, 11:36 AMTurnout for today's rally against Yemen's government is less than had been expected as citizens are either fleeing Sanaa or worried about getting killed in what is looking increasingly like a civil war. Already somewhat a safe haven for al Qaeda, a failed Yemeni state could seriously erode ME security. | May 27, 2011, 11:36 AM | 1 Comment
May 26, 2011, 9:59 AM
Apr. 19, 2011, 4:37 PMThe governing committee in Misrata confirms it has made an official request for foreign troops on the ground to stop Gaddafi forces from killing civilians. NATO and the U.N. have yet to respond. The U.K. is sending military advisers into Libya, but on an unrelated mission. | Apr. 19, 2011, 4:37 PM | 2 Comments
Apr. 19, 2011, 9:59 AM
Following weeks of protests, Syria lifts its emergency law. The law, in place for nearly 5 decades, effectively suspended constitutional protections for citizens.| Apr. 19, 2011, 9:59 AM | 4 Comments
Apr. 19, 2011, 8:58 AM
The protests and security force crackdowns continue in Syria, where 20K in Hams were fired at during an overnight sit-in. A government statement saying the demonstrations are the work of Salafist organizations, i.e. al-Qaeda, seemingly gives the green light for an even bloodier crackdown.| Apr. 19, 2011, 8:58 AM | 1 Comment