CREDICORP LTD (BAP) 72.10 $0.30 (0.42%) 10:28PM (15 mins delay)

iShares Beats Global-X to Peru ETF

Jun 23, 2009 - 8:01 AM EDT

iShares surprised the market on Monday with the launch of the first US listed Peru ETF. Global-X investments - the niche firm who listed the US's first Columbia offering - was expected to be first to market.

The iShares MSCI All Peru Capped Index Fund (EPU) will allow US investors to easily access one of Latin America's hottest markets by tracking a pure free float market cap weighted index. Its 25 names are heavily concentrated in the materials sector (65%), with a particular focus on gold, silver, and copper. Its largest holding at 19% Cia De Minas Buenaventur (BVN) who produced nearly half a million ounces of gold last year (compared to Goldcorp's 2.4), and its second largest at 15% is Southern Copper (PCU), the biggest player in the world's fourth largest copper producing nation.

Complete Story »

Source: Seeking Alpha (Jun 23, 2009 - 8:01 AM EDT)