iShares, begun trading a new Argentina Equity ETF, the iShares MSCI Argentina and Global Exposure ETF (Bats: AGT), on Thursday, April 27, 2017. Here is a synopsis of the new ETF:
FUND INFORMATION:
| Symbol: AGT | Exchange: BATS |
| Name: iShares MSCI Argentina and Global Exposure ETF | Net Expense Ratio: 0.59% |
FUND OBJECTIVE:
The iShares MSCI Argentina and Global Exposure ETF seeks to track the investment results of the MSCI All Argentina 25/50 Index.
REFERENCE INDEX:
The MSCI All Argentina 25/50 Index is designed to measure the broad Argentina equity universe, while including a minimum number of constituents, as defined by MSCI, Inc. (Index Provider ). The Underlying Index consists of equity securities of companies:
(i) that are classified in Argentina according to the MSCI Global Investable Market Index Methodology, together with
(ii) companies that are not classified in Argentina according to the MSCI Global Investable Market Index Methodology, but are either headquartered or listed in Argentina and have significant linkage to Argentina (based on the geographic distribution of any of the following criteria: company’s shareholder base, revenues, assets, management, employee base, history and country of incorporation), as defined and measured by MSCI, or
(iii) have an economic exposure (based on the geographic distribution of a company’s revenues) greater than 10% to Argentina, as defined and measured by MSCI, where the criteria outlined in (i) and (ii) do not result in the target number of securities and issuers.
The Underlying Index is a free float-adjusted market capitalization-weighted index with a capping methodology applied to issuer weights so that no single issuer of a component exceeds 25% of the Underlying Index weight, and all issuers with a weight above 5% do not cumulatively exceed 50% of the Underlying Index weight. The Underlying Index may include large-, mid- or small-capitalization companies, and, as of March 31, 2017, the average free-float adjusted market capitalization of a company considered large by the Index Provider is approximately $2.5 billion. Components of the Underlying Index primarily include securities of energy and information technology companies. Companies with economic exposure or significant linkage to Argentina may include companies organized, listed or with significant operations in developed countries. The components of the Underlying Index, and the degree to which these components represent certain industries, are likely to change over time. Components of the Underlying Index may include developed market issuers with economic exposure to Argentina.
Top Holdings (05/04/17):
| MELI | MERCADOLIBRE INC | 20.02% |
| TEN | TENARIS SA | 15.32% |
| YPF | YPF SOCIEDAD ANONIMA ADR EACH REPR | 8.86% |
| GGAL | GRUPO FINANCIERO GALICIA ADR REPTG | 5.04% |
| BMA | BANCO MACRO ADR REPRESENTING TEN S | 4.50% |
| TEO | TELECOM ARGENTINA ADR REPRESENTING | 4.24% |
| PAM | PAMPA ENERGIA ADR REPSG SA | 4.05% |
| TGS | TRANSPORTADORA DE GAS DEL SUR ADR | 3.81% |
| ARCO | ARCOS DORADOS HOLDINGS INC CLASS A | 3.65% |
| AGRO | ADECOAGRO SA | 3.13% |
Exposure Breakdowns (05/04/17):
| Argentina | 43.03% |
| United States | 20.12% |
| Italy | 15.32% |
| Luxembourg | 5.86% |
| Chile | 4.63% |
| Uruguay | 3.65% |
| Mexico | 3.38% |
| Canada | 2.55% |
| Spain | 1.59% |
Useful Links:
AGT Home Page