August 12, 2010 at 00:59 AM EDT
ELD: Emerging Markets Local Debt, Active Edition
Yesterday (8/9/10) WisdomTree made a little bit of a splash with the launch of WisdomTree Emerging Markets Local Debt Fund (ELD).  We call it a “splash” because the firm apparently lined up some big buyers even before the new ETF hit the tape. Assets are already at $125 million. ELD is very similar to Market Vectors Emerging Markets Local Currency Bond ETF (EMLC), which also came out recently (7/23/10).  Both seek to own a portfolio of emerging market government debt denominated in local currency rather than U.S. dollars.  As noted in our story on EMLC, this gives investors exposure to foreign exchange risk as well as credit risk.  Whether these risks will carry a commensurate reward is not yet known. There is an important difference between EMLC and ELD, however.  The…
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