The Astana International Exchange (AIX) recently listed the first exchange-traded fund (ETF) to be traded on the bourse.
Units of ITI EFT, which is a Russia-focused USD Eurobond ETF and is an instrument of Guernsey-based investment manager ITI Funds, are due to start being traded this month, according to a statement from the AIX, a two-year-old bourse which is part of Kazakhstan’s ambitious Astana International Financial Centre (AIFC) project.
The ETF is a Société d’investissement à Capital Variable (SICAV) fund compliant with the Undertakings for the Collective Investment in Transferable Securities (UCITS), a European Commission regulatory framework.
Units of the fund are also traded on the London Stock Exchange and Moscow Exchange for US dollars, euros and roubles.
Source: Emerging Markets