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Products August 11, 2010
EGShares Launches India ETF
EGShares has launched the EGShares India Infrastructure ETF (NYSE:INXX).
Reported by Rebecca Moore
The ETF offers investors exclusive access to Indian companies positioned to benefit from infrastructure development in India. According to a press release, the Emerging Global Shares Indxx India Infrastructure Index Fund invests in 30 of the largest locally traded Indian companies dedicated to the infrastructure industry, and has a mean free float market capitalization of $11.19 billion.
INXX charges a net expense ratio of 0.85% (gross expense ratio: 1.58%). The announcement said the top five industry weights of the Index, as of 6/30/10, were Electricity (23.26%), Construction & Materials (16.86%), Industrial Metals & Mining (13.71%), Industrial Engineering (12.03%), and Mobile Telecom (10.09%), followed by Industrial Transportation, Oil & Gas Producers, Real Estate Investment & Services, Electronic & Electrical Equipment, and Alternative Energy.
The EGShares India Infrastructure ETF is the eighth ETF to be introduced by EGShares. More information is at http://www.egshares.com.
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