Wall Street Journal
December 6, 2011
The first U.S. exchange-traded fund to track only Greek stocks is slated to launch this week, offering investors another tool to deploy investment strategies amid Europe’s ongoing sovereign-debt crisis.
The Global X FTSE Greece 20 ETF is set to trade on NYSE Euronext’s electronic Arca exchange, listed under the ticker “GREK,” starting Thursday, Global X Funds chief executive Bruno del Ama said in an interview.
The fund, reflecting the trend of ever more specific slivers of market exposure, is tied to the FTSE/ATHEX 20 Capped Index, which tracks the top 20 companies by market capitalization on the Athens Stock Exchange.
“Greece has been in the headlines pretty much every other day for the last 18 months,” del Ama told Dow Jones Newswires. “It’s a market where a lot of people have an opinion. [We're aiming to] facilitate access to that market.”
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