Global X Funds has launched the Global X Mexico Small-Cap ETF, which it says is the first exchange-traded fund to focus on Mexico’s small-cap companies.

The fund is designed to give investors exposure to Mexico’s domestic growth story, with an emerging middle class and positive developments in manufacturing and service industries.

According to a recent report from Morgan Stanley, Mexico’s 4.6% GDP growth in the fourth quarter of 2010 was almost entirely driven by domestic demand.

“The Global X Mexico Small-Cap ETF provides an efficient way to play Mexico’s domestic growth story,” said Bruno del Ama, chief executive officer of Global X Funds. “Improvement in Mexico’s terms of trade with the U.S., its largest trading partner, has helped to increase investment in domestic industries.”

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