Global X Rolls Out Asian Markets Combination ETF

While the timing probably could have been better, we won't hold that against ETF issuer Global X for introducing yet another novel idea to the world of emerging markets ETFs. It could be called the "Inflation ETF," but the official name is the Global X FTSE ASEAN 40, which made its debut today on the NYSE under the ticker ASEA. ASEA tracks five markets: Singapore (40%), Malaysia (32%), Indonesia (14.8%), Thailand (10.6%) and the Philippines (0.6%). The Southeast Asian nations have profited from considerable growth and a combined market capitalization of $1.75 trillion in 2010, larger than that of both India and Brazil, Global X said in a statement. ASEA will track the FTSE ASEAN 40 Index. As of February 3, 2011 the three largest components for ASEA were DBS Group Holdings, Singapore Telecom, and Oversea-Chinese Banking, the Global X statement said. Global X recently introduced a similar ETF that is a play on Latin America. The Global X FTSE Andean 40 ETF AND made its debut in January, becoming the first ETF to offer exposure to Chile, Colombia and Peru within one fund. That ETF has so far acquired $4.3 million in assets under management. Including ASEA, Global X now issues fourteen emerging markets ETFs.