Global X Permanent ETF to track Solactive Permanent Index securities

By Toni Weeks

San Diego, Feb. 3 - Global X Funds has launched the Global X Permanent ETF, according to an N-1A filing with the Securities and Exchange Commission.

The fund will trade on the NYSE Arca under the ticker symbol "PERM."

The fund's investment objective is to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Permanent Index, which allocates 25% to each of four asset classes: stocks, long-term U.S. Treasury bonds, short-term U.S. Treasury bills and bonds, and gold and silver. The fund will invest at least 80% of its total assets in securities of the index and in American Depositary Receipts and Global Depositary Receipts based on the securities in the underlying index.

The portfolio managers are Bruno del Ama and Jose C. Gonzalez.

There are no shareholder fees. Management fees will run 0.48%. Along with other fees, the total annual fund operating expenses are expected to be 0.49%.

New York-based Global X Management Co. LLC will serve as the investment adviser.

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