Global X begun trading the Global X MSCI Pakistan ETF (NYSEArca: PAK) on Thursday, April 23, 2015.
Here is a synopsis of the new ETF:
FUND INFORMATION:
| Symbol: PAK | Exchange: NYSE Arca |
| Name: Global X MSCI Pakistan ETF | Net Expense Ratio: 0.88% |
FUND OBJECTIVE:
The Global X MSCI Pakistan ETF seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI All Pakistan Select 25/50 Index.
REFERENCE INDEX:
The MSCI All Pakistan Select 25/50 Index is designed to represent the performance of the broad Pakistan equity universe, while including a minimum number of constituents.
The broad Pakistan equity universe includes securities that are classified in Pakistan according to the MSCI Global Investable Market Index Methodology together with companies that are
headquartered or listed in Pakistan and carry out the majority of their operations in Pakistan.
Index Top Components (04/23/15):
| MCB BANK LTD | 11.92% |
| OIL & GAS DEVELOPMENT CO | 9.59% |
| UNITED BANK LIMITED | 6.31% |
| LUCKY CEMENT | 5.79% |
| FAUJI FERTILIZER CO LTD | 5.77% |
| HUB POWER COMPANY LTD | 4.89% |
| ENGRO CHEMICALS | 4.73% |
| PAKISTAN STATE OIL CO LTD | 4.70% |
| BANK AL HABIB LTD | 4.20% |
| NATIONAL BANK OF PAKISTAN | 3.64% |
Index Sector Weightings (04/22/15):
| Financials | 32.7% |
| Energy | 24.2% |
| Materials | 23.0% |
| Utilities | 10.8% |
| Consumer Discretionary | 4.0% |
| Industrials | 1.9% |
| Telecommunications | 1.7% |
| Health Care | 1.6% |
Useful Links:
PAK Home Page
ETFtrack comment:
PAK is the 1st Pakistan-focused ETF listed in the U.S.
Pakistan is a rapidly developing country and is one of the Next Eleven (N-11), the eleven countries that have a high potential to become the world’s largest economies in the 21st century.
PAK came into the market few days after chinese government unveiled a massive infrastructure development program known as the China-Pakistan Economic Corridor (CPEK). CPEC is a development megaproject that aims to connect Gwadar Port in southwestern Pakistan to China’s northwestern autonomous region of Xinjiang, via a network of highways, railways and pipelines to transport oil and gas. China kick-started $28 billion of advance projects out of the total $46 billion, ranging from upgrading Pakistan’s railways to building power plants.