iShares acquires Mexico’s Naftrac ETF
iShares has acquired the largest and first exchange-traded fund (ETF) in Mexico and Latin America. The Naftrac ETF follows the performance of the IPC (Indice de Precios y Cotizaciones), which is a Mexican stock market index.
The fund was originally launched in 2002 by Nacional Financiera, the Mexican development banking institution. Between January and April this year, Naftrac represented 14% of all trading on the Mexican stock exchange where it is listed, says iShares.
The provider, which is part of Barclays Global Investors, now counts 100 products listed on the exchange since it debuted in Mexico in 2007. It will be looking to intensify its business in the region over the coming months, says iShares Latin America
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