Global X ETFs launches firm’s first commodity-focused fund in Europe

ETF blocksGlobal X ETFs has launched the Global X Copper Miners UCITS ETF (COPX) on the London Stock Exchange and the Deutsche Börse Xetra.

The fund will have a management fee of 0.65% and will provide investors with exposure to a broad range of copper mining companies around the world.

COPX will track the Solactive Global Copper Miners V2 Index and will join Global X’s existing line up of 12 UCITS ETFs in the European market.

Copper prices have held steady throughout the pandemic. As the world began to emerge from the Covid-19 pandemic and economies started to reopen, copper had risen above $4.00 a pound, nearly double its value compared to March 2020 lows.

Demand for copper stems from the metal being one of the best performing assets during inflationary periods, as well as structural demand drivers such as electric vehicle adoption, clean energy, and major global infrastructure spending.

Morgane Delledonne, director of research, Europe said: “Copper is useful for a wide range of applications including construction, industrial machinery, transportation, electric generation, and electronics. 2021 has proven to be a transformational year for copper, and we have a strong long-term outlook for copper demand driven by trends poised to disrupt the global economy.”

“Leveraging our expertise in commodities ETFs in the U.S. market, Global X is thrilled to provide European investors a targeted play on copper mining stocks with COPX,” added Delledonne.

Global X ETFs was founded in 2008. It product line up features more than 80 ETF strategies and over $40 billion in assets under management.

Global X is a member of Mirae Asset Financial Group, a global leader in financial services, with more than $620 billion in assets under management worldwide.

© 2021 funds europe


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