Invesco launches Europe's first Saudi Arabia ETF

TER of 0.50%

Invesco has listed the first Saudi Arabia ETF in Europe on the London Stock Exchange, with a total expense ratio (TER) of 0.50%.

Available in US dollars, the Invesco MSCI Saudi Arabia UCITS will track the MSCI Saudi Arabia 20/35 index, which is made up of 22 large and mid-cap companies. The index accounts for 85% of the free float market cap in Saudi Arabia and looks to avoid over-concentration in certain parts of the economy. The firm said the country's transformation on the back of objectives to improve the economy and open its equity markets to foreign investors were reasons for launching the vehicle. Saudi Arabia is also up for review by the MSCI, with an announcement due on 20 June regarding whether it ...