Van Eck Global launched the Market Vectors Africa Index ETF (AFK) today.
The new ETF enables investors to access a fast growing market and reach for opportunities beyond the traditional emerging markets.
The ETF tracks the Dow Jones Titans 50 Index. The index covers 11 countries in Africa and includes offshore companies that generate the majority of their revenue in Africa. The largest sector weightings are Banking, Basic Resources, and Oil & Gas.
Leading holdings include Mobile Telecommunications, Tullow Oil, and Sasol Ltd.
Invesco PowerShares introduced a Middle East – North Africa ETF in June with the MENA Frontier Countries Portfolio (PMNA). Click here for more.