BlackRock Readies Colombia Index ETF in South America Expansion
The fund will be denominated in Colombian pesos and will track the Colcap Index, said Axel Christensen, BlackRock’s managing director for South America excluding Brazil.
“We’re very close to starting a product in Colombia,” he said in an interview from London during a Chilean investment promotion event. “We are days away, we hope.”
IShares, the ETF fund business of New York-based BlackRock, also plans to start a local fund in Chile after regulatory changes that enable ETFs take effect next month, Christensen said. IShares already has local ETFs in Mexico and Brazil, Latin America’s two largest markets.
ETFs issue a fixed number of shares and trade throughout the day like stocks. Most are designed to passively track a benchmark equity index.
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