The PureFunds ISE Diamond/Gemstone ETF (ARCA:GEMS) announced that it has made the first Russian equity allocation to any PureFunds ETF by adding Russia’s ALROSA (MCX:ALNU) to its current holdings.
As quoted in the press release:
Alrosa is primarily a diamond company involved in the exploration and production of diamonds and gemstones throughout Asia and Africa. By volume, Alrosa is the world’s largest producer of rough diamonds. This October, Alrosa raised $1.3 billion through a public offering of its shares.
Andrew Chanin, co-founder of PureFunds, commented:
This could be a game changer for the world’s first diamond ETF. Alrosa is a behemoth of a diamond company and we are excited to see it added to the ISE Diamond/Gemstone Index. This addition increases GEMS exposure to the global diamond and gemstone industry while providing a means for US investors to gain access to this Russian listed diamond powerhouse.