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The Borat ETF?

U.S. investors soon may have access to an ETF that holds firms based in Borat's "Glorious Nation."

Robert Goldsborough, ETF Analyst, 07/08/2011

On Thursday, Global X Funds filed for permission to launch 14 foreign, single-country exchange-traded funds, most of which are located in frontier markets, including Bangladesh, Sri Lanka, Slovakia, Morocco, Nigeria, and Kazakhstan.

While Kazakhstan, a former Soviet republic, probably is most known to United States investors because of comedian Sacha Baron Cohen's Kazakh character Borat who "starred" in the 2006 mockumentary film by the same name, the oil-rich nation in theory is ripe for an ETF, given its already-prominent role in energy production, along with oil and natural gas deposits that are believed to lie below Kazakhstan's portion of the Caspian Sea. And right now, few ETFs available to U.S. investors have any exposure at all to Kazakhstan equities, with the highest concentration (just below 5% of assets) coming from Guggenheim Frontier Markets ETF FRN.

Global X's filing Thursday demonstrated that the firm is committed to pushing the geographic boundaries of the ETF world for U.S. investors. Several of the countries have single-country ETFs devoted to them that trade in foreign markets, but there are no single-country ETFs covering these nations that trade on U.S. exchanges at this time. (For example, Van Eck currently has a Nigeria ETF in registration as well.)

Global X did not detail expense ratios or ticker symbols for the proposed funds.

The proposed funds:

Global X FTSE Portugal 20 ETF
Global X FTSE Ukraine ETF
Global X Greece 20 ETF
Global X Hungary ETF
Global X Luxembourg ETF
Global X FTSE Morocco 20 ETF
Global X Czech Republic ETF
Global X Slovakia ETF
Global X Qatar ETF
Global X Kuwait ETF
Global X Nigeria ETF
Global X FTSE Bangladesh ETF
Global X FTSE Sri Lanka ETF
Global X Kazakhstan ETF


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