A new exchange-traded fund designed by Global X Funds has broadened its scope from fishing to aquaculture, with the intention to cover all aspects of fish production. Fish farming via aquaculture seen taking central role in sector's expansion.

Global X Fishing was launched in May, designed to cover the world's major fishers. Its biggest holdings include Toyo Suisan Kaisha Ltd., Cermaq ASA and Marine Harvest ASA. Salmon, shrimp and tilapia are the main catches, alongside related businesses in seafood processing, marketing and feed. Writing in the Wall Street Journal's MarketWatch, Jacob Bunge said the fund, with $1.8 million in total assets, is off 18.1% since its launch May 4, against a 9.5% decline in the Standard & Poor's 500 stock index and a 4% decline in the Market Vectors Agribusiness ETF. The report quotes Bruno del Ama, chief executive and fund manager for Global X, as attributing the early underperformance to the Japanese earthquake and tsunami in March.

The expansion of aquaculture as a more reliable method of gathering seafood positions the industry as the fastest-rising segment of the agribusiness sector, del Ama said.