Global X Funds Launches 1st Nigeria ETF, Another in Asia

Global X Funds, the New York based provider of exchange traded funds, yesterday launched the Global X Nigeria Index ETF and the Global X Central Asia & Mongolia Index ETF on NYSE Arca.

Both funds are first to market ETFs for their respective regions and will build on Global X Funds tradition of providing  exchange-traded funds that facilitates access to investment opportunities across the global markets.

The Global X Nigeria Index ETF (NGE) provides exposure to the largest and most liquid companies in Nigeria as well as companies that derive a significant amount of revenues from the country, giving investors a cost-efficient way to access a country with significant long-term growth potential.

Goldman Sachs has included Nigeria in its "Next 11" economies, which are defined as a group of large, fast-growing markets that are expected to be an important source of growth and opportunity in the future.

In addition to being the 7th most populous country in the world and the most populous country in Africa with over 160 million people, approximately 63% of Nigeria's population is under the age of 25 (World Bank, 2013).

The Global X Central Asia & Mongolia Index ETF (AZIA) provides cost-effective exposure to hard to access countries by investing in foreign listings of Central Asian companies as well as in companies that derive significant revenues from the region.

In recent years, the economies of Central Asia have benefited significantly from land that is rich in natural resources; the region has become a major exporter of oil, copper, gold, silver, coal, zinc, lead, uranium, cotton and wheat. 

China has emerged as a key destination for these resources, and has been investing heavily to develop energy and transportation infrastructure in the region. 

Trade between Central Asia and China has grown from approximately $500 million in 1992 to $30 billion in 2010, reflecting an annual growth rate of over 25% (National Bureau of Statistics of China, 2012).

The Economist Intelligence Unit predicted that Mongolia will grow its GDP by nearly 14% this year, the second fastest growing country on the planet (2013).

"The launch of NGE and AZIA have expanded our offerings to include frontier markets— investment themes we stand behind due to their long-term potential and lower correlation with other markets," said Bruno del Ama , chief executive officer of Global X Funds.

The Global X Nigeria Index ETF tracks the Solactive Nigeria Index. The Global X Central Asia & Mongolia Index ETF tracks the Solactive Central Asia & Mongolia Index.

With $1.8 billion in managed assets as of March 22, 2013, Global X Funds is one of the fastest growing ETF providers in the world.

It  currently offers exchange-traded funds that target Income, Commodity Producers, Developed Markets, Emerging Markets, and Special Opportunities fund suites. For more information, please visit www.globalxfunds.com