First Asset has announced its Morningstar Emerging Markets Composite Bond Index ETF has closed its offering.
The fund’s common and advisor class units will commence trading on the TSX today under the symbols EXM and EXM.A.
The EXM provides investors with economic exposure to the performance of the Morningstar Emerging Markets Composite Bond Index, which includes the most liquid sovereign and corporate bonds issued in U.S. dollars by governments and corporations in Latin America, emerging Europe, Africa, Middle-East and Asia.
The common class units of EXM have a management fee of 0.50%.
“EXM provides investors with exposure to enhanced yields currently offered by the emerging markets debt sector, leveraging Morningstar’s investment research,” says Barry Gordon, President and CEO of First Asset.