Bloomberg reported this morning that IShares has reached an agreement with Peru’s pension funds that will increase the assets of the first Peruvian exchange traded fund in the U.S. According to Bloomberg, “The Peruvian pension funds, known as AFPs, will swap shares of local companies in exchange for shares in the iShares MSCI All Peru Capped Index Fund.” Bloomberg interviewed Gonzalo Presa, a pension fund manager at Lima-based AFP Horizonte who stated, “We’ll give Barclays shares to build up this ETF,” Presa, who helps manage $3.4 billion as head of local equities at AFP Horizonte, said in a phone interview. “The idea is to issue $300 million in new shares in two, three weeks.”
For the whole Bloomberg story click: HERE
The MSCI All Peru Capped Index Fund (EPU) seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI All Peru Capped Index and was launched on June 23rd beating Global X in the race for the first Peru ETF to market.