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Nearshoring enters the Mexican Stock Exchange (BMV) in the form of an exchange-traded fund (ETF), offering investors exposure to approximately 70 North American companies and trusts that are considered “direct beneficiaries” of a growing business trend. is provided.
Aztlan Equity Management’s North American Nearshoring Stock Selection ETF is the first ETF accessible via BMV specifically aimed at capitalizing on the nearshoring phenomenon.
The company was listed on the BMV for the first time on Monday through the stock exchange’s International Quotation System, which allows investors to invest in offshore-listed stocks and ETFs. The ETF has an initial price of P364 (US$21.60) and has been trading on the New York Stock Exchange (NYSE) since November 30.
The fund, identified by the ticker symbol NRSH, “seeks to invest in stocks domiciled in North America, including the United States, Mexico, and Canada, that have been identified by Aztlan as direct beneficiaries of the nearshoring phenomenon,” Aztlan said. Equity says. Management has offices in the United States (McLean, Virgina), Mexico (Monterrey, Nuevo Leon), and Hong Kong.
It comprises companies and trusts active in areas such as real estate, land transport, air cargo and logistics, transport infrastructure, and maritime transport. The 70 or so companies and trusts that make up the ETF include TFI International, CSX Corporation, Canadian Pacific Kansas City, and Mexico-based real estate investment trusts Fibra Macquarie and Fibra Mt. The 30 best-performing companies in Aztlan’s selected pool always contribute to his ETF stock price.
“The new ETF marks a turning point in the space of exchange-listed investment funds. Investors who decide to invest in the NRSH ETF will have broad exposure to the nearshoring phenomenon in a single product. ” said Alejandro Garza, founder of Aztlan Equity Management.
“There has never been a fund that integrates these three markets,” he said, referring to the US, Mexico and Canada, which are signatories to the USMCA free trade agreement.
“That and the fact that this is the first nearshoring fund also makes this a watershed,” Garza said after the ETF was listed on the New York Stock Exchange last November.
More than half (57%) of the fund’s participating companies are based in the United States, 23% in Mexico, and 20% in Canada.
In an interview with Bloomberg Linea, Garza said US$10 million has been invested in Aztlan’s nearshoring ETF since it went public on the New York Stock Exchange three months ago.
“We think it was a good performance.” [but] “Our goal is to hit $100 million by the end of the year,” he said.
Having access to the ETF through BMV will make it easier for Mexicans to invest in the fund.
Mexico is already benefiting from the nearshoring trend, but foreign investment is slowing as companies act on already announced plans and other foreign companies decide to locate in Mexico due to its proximity to the United States. It is expected to continue increasing in the coming years. competitive labor costs and other factors;
As reported by El Economista, Bloomberg Línea and Reforma
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