FTSE Group (FTSE), the global index provider, has been selected by Emerging Global Advisors, the asset manager to the EGShare ETF offering, as the index provider for EGShares ‘Beyond BRICs’ exchange-traded fund (BBRC).
The ETF, which is listed on NYSE, has transitioned from the Indxx Beyond BRICs Index to track the FTSE Beyond BRICs Index. FTSE’s index includes exposure to emerging markets beyond the BRIC countries (Brazil, Russia, India, China) including frontier markets as defined by FTSE’s country classification process.
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The FTSE Beyond BRICs Index is designed to track the performance of a diversified basket of 90 liquid companies in emerging and frontier markets excluding Brazil, Russia, India, China (BRIC), Taiwan and Argentina.
The index is composed of the top 75 qualifying emerging markets securities ranked by full market capitalization and the top 15 frontier market securities ranked by the six-month average daily trading value (ADTV).
The index provides market participants with exposure to emerging countries that are typically underweighted in traditional emerging indices and to tradable frontier markets.
In common with all FTSE indices, the FTSE Beyond BRICs Index is managed according to a publicly available set of rules and based on FTSE indices that are overseen by independent committees of seasoned market practitioners.
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By GlobalDataJonathan Horton, president of FTSE North America and Head of FTSE’s ETP Service Unit, said: "We are delighted to have had the opportunity to work with Emerging Global Advisors to expand the BBRC offering to include frontier markets. Tradability, transparency and strong governance are at the core of our index design. FTSE continues to offer a holistic solution for ETF issuers seeking to provide diverse investment opportunities in both emerging and frontier markets."
