/PRNewswire-FirstCall/ -- Global X Funds, the
-based provider of exchange traded funds, launched today the Global X Brazil Financials ETF (ticker: BRAF). This is the first ETF to offer targeted access to the rapidly growing Brazilian financial sector.
The Global X Brazil Financials ETF tracks the Solactive Brazil Financials Index, which is designed to track the performance of the Brazilian financial sector. As of
July 20, 2010
, the largest index components were banks Itau Unibanco, Banco Bradesco and Banco do
The financial sector in
is large and benefits from a decade of restructuring. Brazilian loan portfolio values far exceed that of any other Latin American country, and are five-fold higher than second-ranking country
, according to BNamericas data. Brazilian M&A deals reported by Dealogic in Q1 2010 were worth
and double the deal flow posted a year ago. Financial investment in
is expected to grow by 22% annually through year 2020, according to Itau Unibanco.
is establishing itself as the financial center of the region, thanks to strong macroeconomic trends over the past half decade of decreasing fiscal debt and unemployment, rising credit and industrial production," says
Bruno del Ama
, CEO of Global X Funds. "Such trends plus favorable projections give a solid platform for financial sector growth going forward. The Global X Brazil Financial ETF provides efficient access to these themes."
The Brazil Financials ETF (BRAF) is part of a family of Brazil ETFs, which includes the Global X Brazil Consumer ETF (BRAQ) and Brazil Mid Cap ETF (BRAZ) that were recently launched on
, respectively. Other members of the fund family yet to launch include the Brazil Industrials, Materials, and Utilities ETFs.
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