iShares has launched the iShares MSCI Colombia Capped ETF (ICOL) to bet on companies in the burgeoning region.

The fund will track the MSCI All Colombia Capped Index, which is a broad-based Colombia equity market index. iShares, citing data from the International Monetary Fund, said that Colombia has the third largest population among Latin and South American countries, with a growing educated and entrepreneurial middle class and a higher realized GDP growth than Brazil due to demand for its oil, natural gas and coal.

“Colombia has been referred to as the ‘new Brazil,’” stated Patrick Dunne, Head of iShares Global Markets and Investments at BlackRock. “Institutional and retail investors now have an efficient means to access one of the world’s most exciting economies, whether implementing a short-term tactical strategy or building a long-term diversified global portfolio.”

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