FTSE Licenses Index for New Asian ETF

February 17, 2011 (PLANSPONSOR.com) – FTSE Group has licensed GlobalX Funds to create a new exchange traded fund (ETF) based on the FTSE/ASEAN 40 Index.  

A news release said the fund, which launched Thursday, is the first U.S.-listed ETF to represent the performance of the Association of Southeast Asian Nations (ASEAN). This is the fifth GlobalX fund based on FTSE’s regional and country-specific indexes. 

The FTSE/ASEAN 40 Index measures the performance of the forty largest companies in the broader FTSE/ASEAN Index, which tracks the performance of large- and mid- cap companies from Indonesia, the Philippines, Singapore, Malaysia and Thailand.  Market capitalization determines the size of the companies in both the FTSE/ASEAN and FTSE/ASEAN 40 indexes.

Singapore makes up over 40% of the country weighting within the FTSE/ASEAN 40 Index, and Financials account for about 42% of industry weight, as measured by market capitalization, the news release said.  

More information is here.