Global X Funds, the New York based provider of exchange traded funds, is changing the index, name, ticker, expense ratio and investment objective of the Global X S&P/TSX Venture 30 Canada ETF (TSXV).
Currently the fund is mostly comprised of small-capitalization companies based in Canada that operate within the mining and energy sectors. Its new objective will be to provide investment results that correspond generally to the price and yield performance of the Solactive Junior Miners Index, which tracks the market performance of small-capitalization mining companies globally.
The fund will also change its name on September 3 to the Global X Junior Miners ETF and its total annual expense ratio will be reduced from 75 basis points to 69 bps.
“The change positions the fund as the first global junior mining ETF across metals,” stated Bruno del Ama, chief executive of Global X Funds.