Global X Selected as Manager of Colombia's First Local Sovereign Debt ETF
13 Jun, 2022, 10:51 ET
NEW YORK, June 13, 2022 /PRNewswire/ -- Global X ETFs, the New York-based provider of exchange-traded funds (ETFs), today announced that the firm, which offers financial services through its representative office registered before the Superintendence of Finance in Colombia, has been selected by the Colombian Ministry of Finance and Public Credit, in cooperation with the World Bank, as manager of the "Fondo Bursátil de Deuda Pública Colombiana" ("Colombian Public Debt Stock ETF"). The fund will be Colombia's first fixed income ETF.
"Global X is grateful to have been selected by the Colombian Ministry of Finance and Public Credit to manage this fund in support of the nation's local currency bond markets for both local and foreign investors," said Federico Torresi, Head of Latin American Sales at Global X ETFs. "We are confident that this program, with support from the World Bank, will play a key role in assisting the growth of Colombia's domestic capital markets."
"J.P. Morgan is proud to be associated with this Issuer-Driven ETF program and the sustainable development of domestic capital markets in Colombia. We are excited to work with Global X ETFs, the Colombian government and the World Bank in this endeavor," said Gloria Kim, Global Head of Index Research and Co-Head of ESG Research at J.P. Morgan.
"Being the administrators of the first Colombian Public Debt Stock Market Fund in the country constitutes a recognition of our experience, and a challenge to the trust that the Colombian Government and the Ministry of Finance and Public Credit have placed in our entity", says Buenaventura Osorio M., president of Fiduciaria Bogotá. "It is important to highlight that digitization and innovation, strategic pillars of our Organization, constitute the opportunity to reach more Colombians with investment products that adapt to their needs and expand access to alternatives in the Colombian capital market, opening ourselves up to the opportunity in the country to develop a retail sovereign debt market".
The fund will function as an Issue-Driven Exchange Traded Fund (ID ETF), an investment product developed by the World Bank to support capital markets in emerging economies by collaborating with local partners and allowing local currency debt to be packaged into an ETF format. This fund will be denominated in Colombian pesos. The Colombian Ministry of Finance and Public Credit underwent an evaluation process through which it selected Global X ETFs as manager of the fund, Fiducaria Bogota as administrator of the fund, and J.P. Morgan as the provider of the fund's reference index.
Global X ETFs is a United States-based company founded in 2008. For more than a decade, our mission has been empowering investors with unexplored and intelligent solutions. Our product lineup features over 90 ETF strategies and over $40 billion in assets under management.ii While we are distinguished for our Thematic Growth, Income and International Access ETFs, we also offer Core, Commodity, and Alpha funds to suit a wide range of investment objectives. Explore our ETFs, research and insights, and more at www.globalxetfs.com.
Global X is a member of Mirae Asset Financial Group, a global leader in financial services, with more than $628 billion in assets under management worldwide.iii Mirae Asset has an extensive global ETF platform ranging across the US, Brazil, Canada, Colombia, Europe, Hong Kong, India, Japan, Korea, and Vietnam with over $80 billion in assets under management.iv
Audrey Belloff, Director of Communications
Global X has constituted a representative office in Colombia for the promotion and offer of the products and services of a foreign financial corporation represented in Colombia. Global X is a representation office of a financial institution domiciled in the United States of America and authorized by the Superintendence of Finance of Colombia to advertise and offer financial products and services in Colombia.
Any agreement between a potential Colombian client and Global X will be ruled by the competent judges of the relevant jurisdiction of the product or service and, therefore, the Colombian figure of financial advisor of the financial consumer is inapplicable in this relationship. Global X has established multiple attention channels for the requests or complaints of its clients, which can be filed through globalxetfs.com
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Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Indices are unmanaged and do not include the effect of fees, expenses or sales charges. One cannot invest directly in an index.
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Global X Management Company LLC, a U.S.-based company, serves as an advisor to Global X Funds.
i Federico Torres is registered and recognized before the Superintendence of Finance of Colombia as representative of Global X in Colombia.
ii Source: Global X, as of 6/07/22
iii Mirae Asset, as of June 2022
iv Mirae Asset, as of June 2022
SOURCE Global X Management Company LLC
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