FTSE Licenses Index for New Asian ETF

FTSE Group has licensed GlobalX Funds to create an exchange-traded fund (ETF) based on the FTSE/ASEAN 40 Index.  
Reported by Fred Schneyer

The fund is the first U.S.-listed ETF to represent the performance of the Association of Southeast Asian Nations (ASEAN). This is the fifth GlobalX fund based on FTSE’s regional and country-specific indexes. 

The FTSE/ASEAN 40 Index measures the performance of the forty largest companies in the broader FTSE/ASEAN Index, which tracks the performance of large- and mid- cap companies from Indonesia, the Philippines, Singapore, Malaysia and Thailand.  Market capitalization determines the size of the companies in both the FTSE/ASEAN and FTSE/ASEAN 40 indexes.

Singapore makes up over 40% of the country weighting within the FTSE/ASEAN 40 Index, and Financials account for about 42% of industry weight, as measured by market capitalization, the news release said. 

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