A new way to invest in Kazakhstan? Claymore—the same firm that recently dropped the ax on 11 of its exchange-traded funds—has filed plans with the SEC to create a frontier-market ETF. Claymore's would be the first frontier ETF to trade on U.S. exchanges, according to IndexUniverse.
The fund, tentatively called the Claymore/BNY Frontier Select DR Index fund, would track a Bank of New York index that includes 26 companies and draws from a universe of 40 frontier markets, including Nigeria, Panama, Sri Lanka, Qatar, and Papua New Guinea. The index targets companies with market capitalizations of more than $100 million that trade on U.S. exchanges, the London Stock Exchange, or the Luxembourg Stock Exchange.