Market Vectors ETF family passes $1 billion in assets under management

By Tali David

Minneapolis, Feb. 7 - Van Eck Global's family of Market Vectors municipal bond exchange-traded funds recently passed the $1 billion mark in combined assets under management, the New York-based asset manager announced in a press release.

"Municipal bonds have emerged into the spotlight after long being one of the quieter corners of the investment landscape, and investors and advisors are seeing their current attractiveness as well as the potential benefits offered by investing through exchange-traded funds such as those in our Market Vectors suite," Jim Colby, portfolio manager and senior municipal strategist with Van Eck Global, said in the release.

Since launching its first municipal bond ETF in 2007, Van Eck has increased its roster of municipal income-oriented ETFs to six, which include the Market Vectors High-Yield Municipal Index ETF, the Market Vectors Long Municipal Index ETF, the Market Vectors Intermediate Municipal Index ETF, the Market Vectors Short Municipal Index ETF, the Market Vectors Pre-Refunded Municipal Index ETF and the Market Vectors CEF Municipal Income ETF.

Van Eck noted in the release that, based on Morningstar date, the expense ratios for five of its municipal bond ETFs are currently below the average for their Morningstar categories.

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