NEW YORK, Nov. 13, 2013 /PRNewswire/ -- Global X
Funds, the New York-based provider
of exchange-traded funds (ETFs), today launched the Global X FTSE
Portugal 20 ETF (NYSE Arca: PGAL). This is the first ETF on the
market to focus exclusively on Portugal, tracking the FTSE Portugal 20
Index.
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The FTSE Portugal 20 Index represents the performance of 20 of
the largest Portuguese listed companies ranked by full market
capitalization. The underlying equities trade on NYSE Euronext
Lisbon.
"PGAL provides cost effective access to the Portuguese equity
market," said Bruno del Ama, chief
executive officer of Global X Funds. "There are a number of
encouraging signs coming out of Portugal, and we believe the country is at an
inflection point where the Portuguese economy is starting to find
its footing."
A range of positive indicators, including the Bank of
Portugal's expectation that the
country will generate positive GDP growth in 2014, suggests
investors will begin to pay renewed attention to Portuguese
equities. In addition, Portugal is
expected to run a government budget surplus of approximately 3.5%
in 2014 after the European Central Bank's aid program ends.
"As Europe continues its recovery from the sovereign debt
crisis, we see a compelling opportunity for investors to obtain
exposure to Portuguese equities," said Jay
Jacobs, research analyst at Global X Funds.
PGAL complements the Global X suite of European ETFs. This
includes the Global X FTSE Greece 20 ETF (GREK), the Global X FTSE
Nordic Region ETF (GXF) and the Global X FTSE Norway 30 ETF
(NORW).
ABOUT GLOBAL X FUNDS
Global X is a New York-based sponsor of exchange-traded
funds that facilitates access to investment opportunities across
the global markets. With $2.5 billion
in managed assets and over 100,000 investors from more than 100
countries as of October 31, 2013,
Global X offers exchange-traded funds that target Income,
International, Commodity Producers, Industry, and Alternative fund
suites. For more information about these exchanged traded funds,
please visit www.globalxfunds.com.
DISCLOSURE
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, LLC.
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. The economies of
Europe are highly dependent on
each other, both as key trading partners and as in many cases as
fellow members maintaining the euro. Reduction in trading activity
among European countries may cause an adverse impact on each
nation's individual economies. The European financial markets have
recently experienced volatility and adverse trends due to concerns
about rising government debt levels, ability to service debt, and
potential for defaults of several European countries, including
Greece, Spain, Ireland, Italy and Portugal. Securities focusing on a single
country may be subject to higher volatility. Current and future
holdings are subject to risk.
Shares of Global X Funds are bought and sold at market price,
not NAV, and are not individually redeemed from the fund. Buying
and selling shares will result in brokerage commissions.
FTSE Indexes have been licensed for use by Global X Management
Company, LLC. Global X Funds are not sponsored, endorsed, issued,
sold, or promoted by FTSE, nor does this company make any
representations regarding the advisability of investing in the
Global X Funds. FTSE®", "FT-SE®" and "Footsie®" are trademarks
jointly owned by the London Stock Exchange Plc and The Financial
Times Limited and are used by FTSE International Limited ("FTSE")
under license. The FTSE Portugal 20 Index is calculated by
FTSE.
Index data source: FTSE
Carefully consider the Funds' investment objectives, risk
factors, charges, and expenses before investing. This and
additional information can be found in the Funds' prospectus or
summary 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.
SOURCE Global X Funds