Barclays Global Investors announced Thursday it has agreed to purchase the Naftrac ETF program from Mexico’s development bank Nacional Financiera. Terms of the deal were not immediately disclosed. Daniel Gamba, chief executive for Latin America and the Carribean of Barclays Global Investors said the company is looking to expand its presence in the region, both through additional purchases and launches of new funds.
Naftrac, which was founded in 2002, tracks the benchmark Bolsa index. The fund will be renamed iShares Naftrac following completion of the transaction. According to Gamba, Naftrac accounted for about 13% of all equity trades in Mexico this year through April. The fund is the largest in Mexico in terms of money invested and trades per day according to the exchange. iShares currently offers investors exposure to the Mexican equity markets through its MSCI Mexico Investable Market Index Fund (EWW),
Last month, Barclays agreed to sell its iShares unit to CVC Capital Partners Ltd. in an effort to bolster its capital. Christine Hudacko, a Barclays spokeswoman, said that the Natrac ETF will be included as part of that sale.