Market Vectors plans to launch Emerging Markets U.S.$ High Yield ETF

By Toni Weeks

San Diego, Jan. 30 - Market Vectors ETF Trust announced plans to launch the Emerging Markets U.S.$ High Yield Bond ETF, according to an N-1A filing with the Securities and Exchange Commission.

The fund will seek to replicate as closely as possible, before fees and expenses, the price and yield performance of the Bank of America Merrill Lynch High Yield U.S. Emerging Markets Liquid Corporate Plus Index.

The fund will invest at least 80% of its total assets in securities that comprise the index, which consists of dollar-denominated debt issued by non-sovereign emerging market issuers that are rated BB+ or lower and are issued in the major domestic eurobond markets. The rating is based on an average of Moody's Investors Service, Inc., Standard & Poor's Rating Services and Fitch International Rating Agency.

The portfolio manager will be Michael F. Mazier.

The fund will trade on the NYSE Arca. The ticker symbol has not been determined.

Fees and expenses have not yet been disclosed.

The fund's investment adviser will be New York-based Van Eck Associates Corp.

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