US-based State Street Global Advisors is planning to list a new exchange traded fund (ETF) on London Stock Exchange from 12 November.
Called SPDR MSCI EM beyond BRIC UCITS ETF, the new fund will offer investors with access to smaller emerging markets apart from Brazil, Russia, India and China (BRIC) regions.
Eleanor Hope-Bell, head of SPDR UK at State Street, said that State Street Global Advisors has created a new ETF focusing only on those smaller markets as a way of providing investors with a tactical investment tool to help manage their emerging market exposure.
Deborah Yang, managing director and head of the MSCI Index Business in EMEAI, said: "We are delighted that SSgA has licensed the MSCI EM Beyond BRIC Index as the underlying index for their new ETF, and are very pleased to strengthen our working relationship with them in Europe.
"The MSCI EM Beyond BRIC Index was launched in response to client demand and we believe that it offers a new way of tracking and evaluating the emerging markets opportunity for those wishing to invest in countries outside the BRIC region."
State Street Global Advisors has achieved US$3.4 billion in net ETF inflows year-to-date and has 53 SPDR ETFs available across Europe.