Global X Debuts First Greece ETF (GREK)
Global X continued a busy week of product development; after rolling out a pair of ETFs linked to NASDAQ indexes, the New York-based issuer followed up with the first product offering pure play exposure to Greece. The new FTSE Greece 20 ETF (GREK) will seek to replicate the FTSE/Athex 20 Index, a benchmark that includes 20 of the largest companies that are domiciled in, principally traded in, or whose revenues are derived primarily from Greece. GREK is the first ETF to specifically target Greek equities, and the fund launches at a time when the Greek economy is on the brink of a fiscal nightmare. Greece has become the center of Europe’s sovereign debt crisis, as the country’s generous social benefits have resulted in a massive debt burden that has now grown too large to realistically manage. Last year, Greece agreed to a series of aggressive spending cuts in order to [...] Click here to read the original article on ETFdb.com. Related Posts: Highlighting The PIIGS ETFs Highlighting Five Free ETF Tools This Week In ETFs: November 20th Edition Giving Thanks: Ten Reasons ETFs Are Better Than Mutual Funds Top 5 Countries Most Widely Represented By ETFs
Global X continued a busy week of product development; after rolling out a pair of ETFs linked to NASDAQ indexes, the New York-based issuer followed up with the first product offering pure play exposure to Greece. The new FTSE Greece 20 ETF (GREK) will seek to replicate the FTSE/Athex 20 Index, a benchmark that includes 20 of the largest companies that are domiciled in, principally traded in, or whose revenues are derived primarily from Greece. GREK is the first ETF to specifically target Greek equities, and the fund launches at a time when the Greek economy is on the brink of a fiscal nightmare. Greece has become the center of Europe’s sovereign debt crisis, as the country’s generous social benefits have resulted in a massive debt burden that has now grown too large to realistically manage. Last year, Greece agreed to a series of aggressive spending cuts in order to [...]

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