Horizons ETFs Launches First ETF In Colombia

By ExpatBriefing.com Editorial 31 October, 2013

Horizons ETFs Management announced on October 23, 2013 that it has launched its first exchange-traded fund in Colombia in partnership with Cititrust Colombia.

The new exchange traded fund (ETF), Fondo Bursátil Horizons MILA 40 de S&P, began trading on the Bolsa de Valores de Colombia on the day of the announcement.

Cititrust Colombia will act as the management company of the new ETF, while Horizons Investment Management will be the portfolio manager.

The ETF will give Latin American investors exposure to 40 of the largest and most liquid stocks listed on the Colombia, Peru and Chile stock exchanges via the integrated trading platform Mercado Integrado Latino Americano (MILA). It will partner with S&P to track the S&P MILA 40 Index.

"With a single investment, investors can now gain low-cost, diversified exposure to all three MILA markets," said Federico Torres, Head of Latin American Sales for Horizons ETFs Management.

A press release from the company said: "The rapid growth of MILA's three member exchanges has allowed MILA to emerge as a regional alternative to Brazil's BM&FBOVESPA. Between 2003 and 2012, the combined total market capitalization of Colombia, Peru and Chile rose to USD672bn from approximately USD117bn, an increase of nearly 500 percent, according to the S&P whitepaper, benchmarking MILA."

"Solid economic growth and deepening financial markets in Colombia, Peru and Chile have put the Andean region on the global investment map," said Howard Atkinson, managing director of Horizons ETF Management. "MILA is attracting a lot of interest from investors diversifying away from the 'BRIC' nations (Brazil, Russia, India and China), which are all experiencing their respective challenges."

Tags: Investment | Chile | Interest | Colombia | Stock Exchanges | Peru | Trade | Expats | Investment | Invest | Investment |


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