Argentina ETF Assets Triple as Traders Look Past Default

Source: Bloomberg.com
By: Boris Korby and Jenna M. Dagenhart

08.07.2014

Investors added $24.6 million to the only Argentina-focused exchange-traded fund in the last three weeks, tripling its size amid speculation the country will weather the fallout from its second default in 13 years.

Inflows into the Global X FTSE Argentina 20 ETF (ARGT) have pushed total assets to about $36 million, according to data compiled by Bloomberg. The fund, which invests in American depositary receipts of Argentine companies, has jumped 9.3 percent this year, even after the benchmark Merval stock index tumbled last week as the government missed a deadline to pay $539 million in interest on its overseas bonds.

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