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By: Heather Bell
BlackRock’s iShares unit has made an interesting stand-alone filing for an ETF that will invest in companies that offer exposure to Argentina’s market even if they are not listed or headquartered in the country. The filing for the iShares MSCI Argentina Global Exposure ETF does not include a ticker, expense ratio or listing exchange.
The fund’s underlying index, the MSCI All Argentina 25/50 Index, includes 25 companies. Its methodology prioritizes companies that are categorized as Argentinian by MSCI and also those that are listed or headquartered within the country. However, if there are not 25 companies that fulfill those descriptions, the index can include companies from other markets that have economic exposure of more than 10% to Argentina.
The 25/50 methodology means that no single company can represent more than 25% of the index and that companies with weightings of 5% or more cannot have an aggregate weight of more than 50% of the index.
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