NEW YORK, Dec. 8, 2011 /PRNewswire/ -- Global X Funds, the
New York based provider of
exchange traded funds, today launched the Global X FTSE Greece 20
ETF (NYSE Arca Ticker: GREK), the first ETF listed on the New York
Stock Exchange targeting Greece.
(Logo: http://photos.prnewswire.com/prnh/20110505/NY96572LOGO
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"Global X Funds strives to facilitate access to foreign markets.
Whether bullish or bearish, this new ETF allows investors to take a
viewpoint on the recent news coming out of Greece," said Bruno
del Ama, chief executive officer of Global X Funds.
Since reaching a peak market capitalization of over $220 billion in 2007, the market cap of the
Athens Stock Exchange has fallen nearly 90% to under $28 billion as of November
2011 (Bloomberg). While there is no guarantee that the
Greek economy will recover to previous levels, current valuations
may create an attractive entry point for the long term
investor.
The Global X FTSE Greece 20 ETF tracks the FTSE/ATHEX 20 Capped
Index which is designed to reflect broad based equity market
performance in Greece. The
index is comprised of the top 20 companies listed on the Athens
Exchange ranked by full market capitalization, providing investors
with a comprehensive and transparent way to measure the performance
of these companies. As of December 1,
2011, the Underlying Index's three largest stocks were
National Bank of Greece, Coca-Cola
HBC, and Greek Organisation of Football Prognostics SA.
ABOUT GLOBAL X FUNDS
Global X Funds is a New
York-based provider of exchange-traded funds that
facilitates access to investment opportunities across the global
markets. With $1.4 billion in managed
assets and over 100,000 investors from more than 100 countries as
of October 28, 2011, Global X Funds
currently offers exchange-traded funds that target Europe, Emerging Markets, Commodity Producers,
Income Producers and Special Opportunities fund suites. For more
information, please visit www.globalxfunds.com
DISCLOSURE
Investing involves risk, including the possible loss of
principal. International investing may involve risk of capital loss
from unfavorable fluctuations in currency values, from differences
in generally accepted accounting principles, or from economic or
political instability in other nations. Investments are
concentrated in companies in Greece. Greece's economy is heavily dependent on the
services sector and has a large public sector. Key trading partners
are member states of the EU, most notably Germany, Spain, Italy
and the United Kingdom. Decreasing
demand for Greek products and services or changes in governmental
regulations on trade may have a significantly adverse effect on
Greece's economy. Greece's ability to repay its sovereign debt
is in question, and the possibility of default is not unlikely.
Securities focusing on a single country may be subject to higher
volatility.
Carefully consider the Funds' investment objectives, risk
factors, charges and expenses before investing. This and additional
information can be found in the Funds' prospectus, which may be
obtained by calling 1-888-GX-FUND-1 (1.888.493.8631), or by
visiting www.globalxfunds.com. Read the prospectus
carefully before investing.
Global X Management Company, LLC serves as an advisor to the
Global X Funds. The Funds are distributed by SEI Investments
Distribution Co., which is not affiliated with Global X Management
Company or any of its affiliates.
"FTSE®", "FT-SE®" and "Footsie®" are trademarks jointly owned by
the London Stock Exchange Plc and The Financial Times Limited and
are used by FTSE International Limited ("FTSE") under licence. The
FTSE/ATHEX Capped 20 Index is calculated by FTSE. Neither FTSE nor
Athens Exchange S.A sponsor, endorse or promote this product and
they are not in any way connected to it and do not accept any
liability.
SOURCE Global X Funds