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August 01, 2010 at 04:00 AM
Global X Funds, a New York-based ETF provider, has launched the Global X Brazil Mid Cap ETF (BRAZ). The fund owns midcap stocks with market sizes between $2 to $10 billion that are domiciled in Brazil.
The industry sector breakdown includes 20 percent utilities, 17 percent non-cyclical consumer, 16 percent industrial, 15 percent financials, 14 percent basic materials, 9 percent cyclical consumer, and 9 percent communications.
Some of the 40 companies owned within BRAZ include cosmetics company Natura Cosmeticos, real estate firm Cyrela Brazil Realty, mobile tech company Tele Norte Leste, food distributor Hypermarcas, and materials firm Metalurgica Gerdau.
