Old Mutual Lists Emerging Markets ETF

Old Mutual Global Index Trackers (OMGxT) has listed GlobalShares FTSE Emerging Markets Fund (NYSE:GSR) on the NYSE.

For a limited period, OMGxT’s fund will offer a “Zero Fee, Zero Cost” arrangement, the company said in a news release. OMGxT will cap the fund’s operating expenses (other than brokerage or other transaction-related expenses, taxes, interest, litigation expenses, and other extraordinary expenses) at 0 basis points until the earlier of January 31 or until the net assets of the fund equal or exceed $1 billion.

Upon expiration of the “Zero Fee, Zero Cost” arrangement, the adviser has agreed to contractually waive a portion of its fees and/or reimburse expenses, such that the net expense ratio is capped 0.39% until at least January 31, 2012 , the company said.

Tendai Musikavanhu, managing director and chief executive officer of OMGxT, noted that Old Mutual seeded the portfolios with more than $60 million.