BOGOTÁ, Oct. 23, 2013 /CNW/ - Horizons ETFs Management (LATAM) LLC ("Horizons LatAm"), a member of the Horizons ETFs Group, is pleased to announce the
launch of its first ETF in Latin America in partnership with
CitiTrust. The new ETF will be listed on the Bolsa de Valores de
The Mercado Integrado Latino Americano (MILA) platform is an integrated
trading venture formed by the Colombia, Perú and Chile stock exchanges.
Recognizing the growing importance of the Andean region, S&P Dow Jones
Indices LLC ("S&P") partnered with MILA to create the S&P MILA 40™ Index (the "Index"), a key indicator of regional stock market performance. Horizons ETFs
Group has a license agreement with S&P to use the Index in Latin
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, Perú
and Chile rose to USD $672 billion from approximately USD $117 billion,
an increase of nearly 500%, according to S&P.
Cititrust Colombia S.A. will act as the management company of the new
ETF, while Horizons Investment Management Inc., an affiliate of
Horizons LatAm, will act as the portfolio manager.
"This is our first ETF in Latin America," said Howard Atkinson, Managing Director of Horizons LatAm and the
Global Head of Sales and Marketing for Mirae Asset Global Investments'
ETF business. "Solid economic growth and deepening financial markets in Colombia, Perú
and Chile have put the Andean region on the global investment map," added Mr. Atkinson, "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."
"We're very pleased with the listing of our first ETF on the Colombia
Stock Exchange. Mirae Asset has a globally renowned reputation for
identifying and serving markets with the greatest potential. We believe
that building an ETF business is a great way to participate in the
growth of Colombia, Chile and Perú," said Mr. Taeyong Lee, President of the Global Business Unit and Global
Head of ETFs at Mirae Asset Global Investments, the parent company of
the Horizons ETFs Group.
"The rapid growth of the MILA markets over the last two years now
provides ample support for investment products such as ETFs, said Juan Pablo Cordoba, President of the Bolsa de Valores de
Colombia. "ETFs like the one launched by Horizons ETFs, only serve to increase the
market visibility of the MILA."
Horizons ETFs Management (LATAM) LLC is a registered investment advisor
specializing in exchange traded fund ("ETF") investment management.
The information in this document is believed to be correct at the time
of compilation, but no warranty of accuracy or reliability is given and
no responsibility arising in any other way for errors and omissions
(including responsibility to any person by reason of negligence) is
accepted by Horizons ETFs Management (LATAM) LLC, its officers,
employees or agents. This document contains general information only
and is not intended to be relied upon as a forecast, research,
investment advice, or a recommendation, offer or solicitation to buy or
sell any securities or to adopt any investment strategy. This document
may not be published or distributed without the express written consent
of Horizons ETFs Management (LATAM) LLC.
Standard & Poor's and S&P are registered trademarks of Standard & Poor's
Financial Services LLC and have been licensed for use by S&P Opco, LLC
("S&P Opco"), a subsidiary of S&P and sub-licensed by Horizons ETFs
Management (LATAM) LLC ("Horizons") for certain purposes. MILA is a trade mark of Bolsa de Valores de
Colombia, S.A., Bolsa de Valores de Lima and Bolsa de Comercio de
Santiago (collectively, "MILA"), and has been licensed for use by S&P
Opco and Horizons. The Index is a product of S&P Opco, and has been
licensed for use by Horizons. Horizons LatAm is not sponsored,
endorsed, sold or promoted by S&P Opco, S&P, Dow Jones or any of their
respective affiliates (collectively, "S&P Dow Jones Indices") or MILA.
Neither S&P Dow Jones Indices nor MILA makes ant representation or
warranty, express or implicit, to the owners of a Horizons branded ETF
or any member of the public regarding the convenience of investing in
securities in general or in the any of the Horizons branded ETFs in
particular, or the capacity of the Index to track the general trends of
About the Horizons ETFs Group (www.HorizonsETFs.com)
Horizons ETFs Management (LATAM) LLC and Horizons Investment Management
Inc. are members of the Horizons ETFs Group. The Horizons ETFs Group
consists of innovative financial services companies offering regional
families of ETFs in Canada, Korea, Hong Kong, Australia, the United
States and Colombia. Currently, all of the ETFs offered by these
companies use the Horizons ETFs' brand with the exception of the
'BetaShares' family of ETFs in Australia and the 'Mirae Asset Tiger
ETFs' family in Korea. With approximately $8 billion in assets under
management and 141 ETF listings worldwide, the Horizons ETFs Group
makes up one of the largest collective families of ETFs in the world.
All of the Horizons ETFs Group companies and affiliates are
subsidiaries of Mirae Asset Global Investments Co., Ltd.
About Mirae Asset Global Investments (www.MiraeAsset.com)
Mirae Asset Global Investments is one of the world's largest investment
managers in emerging market equities (Investments & Pensions Europe,
January 2013). With approximately 550 employees, including 137
dedicated investment professionals, Mirae Asset offers a breadth of
emerging markets expertise. Mirae Asset's offices are located in
Australia, Brazil, Canada, China, Colombia, Hong Kong, India, Korea,
Taiwan, the U.K., the United States and Vietnam. Headquartered in
Seoul, South Korea, the firm manages $58 billion in assets globally
through a diversified platform to offer market-leading franchises in
traditional equity and fixed income products, ETFs and alternative
strategies, such as real estate, private equity and hedge funds.
About Mercado Integrado Latinoamericano (MILA) (www.mercadomila.com)
The Mercado Integrado Latino Americano (MILA) exchange was formed in
2011 by the integration of trading platforms from the Colombia Stock
Exchange, Lima Stock Exchange and Santiago Stock Exchange. MILA is
Latin America's second largest stock exchange after Brazil's
BM&FBOVESPA by market value, and the largest by number of listings.
About the S&P MILA 40™ Index
The S&P MILA 40™ Index is designed to track the performance of the 40
largest and most liquid stocks trading on the Mercado Integrado Latino
Americano (MILA) platform, an integrated trading venture formed by the
Colombia, Perú and Chile stock exchanges. The S&P MILA 40™ is intended
to provide a primary benchmark for the rapidly growing Andean equity
About Exchange Traded Funds (ETFs)
"ETF" stands for exchange traded fund. Like mutual funds, ETFs invest in
an underlying basket of assets, such as stocks, bonds, currencies,
options or commodities. Unlike mutual funds, however, the participation
units of ETFs trade like ordinary shares, meaning that pricing is
transparent and that ETFs can be bought and sold throughout the regular
trading day on the stock exchange. Index based ETFs generally aim to
track, as closely as possible, the performance of a given index or
asset class, before fees and expenses. They are a liquid,
cost-efficient and flexible investment tools - designed to be
attractive to both individuals and institutional investors.
SOURCE: Horizons ETFs Management (Canada) Inc.
For further information:
Horizons ETFs Management (LATAM) LLC
+1 (416) 777-5167
Horizons ETFs Management (LATAM) LLC
+57 1 319 2706