NEW YORK, Jan. 5, 2011 /PRNewswire/ -- Global X Funds, the New York based provider of exchange traded funds, today launched the Global X Aluminum ETF (Ticker: ALUM). The launch is the latest expansion in the ETF issuer's global commodity producer funds and is the first ETF globally focused on aluminum.
(Logo: http://photos.prnewswire.com/prnh/20101104/NY94886LOGO )
Aluminum is one of the most heavily consumed metals in the world, its malleable and corrosion-resistant properties make it important for applications in energy, industrials, and consumer goods. In the last decade, the demand for aluminum has grown 38% compared to 20% for other metals, according to Bloomberg.
"We are pleased to offer the Aluminum ETF, which follows in the footsteps of our other highly successful industrial metal ETF, the Global X Copper Miners ETF (Ticker: COPX)," says Bruno del Ama, CEO of Global X Funds. "Aluminum has seen tremendous price increases as a result of increased global demand, especially from China and India. Its invaluable properties to various industries make it essential for future economic growth."
The Global X Aluminum ETF tracks the Solactive Global Aluminum Index, which is designed to track the performance of the largest and most liquid companies globally in the aluminum mining industry. As of December 13, 2010, the three largest components of the index were Rio Tinto plc, Alcoa, Inc. and Norsk Hydro ASA.
ABOUT GLOBAL X FUNDS
Global X Funds is an innovative provider of exchange-traded funds that facilitates access to investment opportunities across the global markets. As one of the fastest growing ETF providers in the world, it recently exceeded $1 billion in managed assets across the largest suite of China-sector and Brazil-focused funds, as well as Global Commodities fund suites. Global X Funds is based in New York City. For more information, please visit www.globalxfunds.com
DISCLOSURE
Investing involves risk, including the possible loss of principal. International investing may involve risk of capital loss from unfavorable fluctuations in currency values, from differences in generally accepted accounting principles, or from economic or political instability in other nations. Emerging markets involve heightened risks related to the same factors as well as increased volatility and lower trading volume. Investments focusing on a single country may be subject to higher volatility. There are additional risks associated with investing in base and precious metals as well as their respective mining industries.
Carefully consider the Funds' investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Funds' prospectus, which may be obtained by calling 1-888-GX-FUND-1 (1.888.493.8631), or by visiting www.globalxfunds.com. Read the prospectus carefully before investing.
Global X Management Company, LLC serves as an advisor to the Global X Funds. The Funds are distributed by SEI Investments Distribution Co., which is not affiliated with Global X Management Company or any of its affiliates.
Structured Solutions AG Indexes have been licensed for use by Global X Management Company, LLC. Global X Funds are not sponsored, endorsed, issued, sold, or promoted by Structured Solutions AG, nor does this company make any representations regarding the advisability of investing in the Global X Funds.
Index data source: Structured Solutions AG.
CONTACT: |
Alexandra Levis |
|
212.644-6440 |
||
SOURCE Global X Funds
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article