Old Mutual Lists Emerging Markets ETF

For a limited period, OMGxT’s fund will offer a “Zero Fee, Zero Cost” arrangement, the company said in a news release. OMGxT will cap the fund’s operating expenses (other than brokerage or other transaction-related expenses, taxes, interest, litigation expenses and other extraordinary expenses) at 0 basis points until the earlier of January 31, 2010 or until the net assets of the fund equal or exceed $1 billion.

Upon expiration of the “Zero Fee, Zero Cost” arrangement, the adviser has agreed to contractually waive a portion of its fees and/or reimburse expenses, such that the Net Expense Ratio is capped 0.39% until at least January 31, 2012, the company said.

Tendai Musikavanhu, managing director and chief executive officer of OMGxT, noted that Old Mutual seeded the portfolios with over $60 million.