Market Vectors Emerging Markets Corporate Bond ETF plans to launch

By Toni Weeks

San Luis Obispo, Calif., Aug. 8 – Market Vectors ETF Trust announced in an N-1A filing with the Securities and Exchange Commission that it plans to offer a new fund that targets investments in emerging market bonds.

The Market Vectors Emerging Markets Corporate Bond ETF will seek to replicate, before fees and expenses, the price and yield performance of the Market Vectors Emerging Markets Corporate Bond index (USD & EUR).

The new exchange-traded fund will normally invest at least 80% of its total assets in securities that comprise the index, which consists of corporate and quasi-sovereign emerging market bonds denominated in U.S. dollars and euros. The fund may concentrate its investments in a particular industry or group of industries. Currently, the financial services and energy sectors represent a significant portion of the index, the filing noted.

Michael F. Mazier and Francis G. Rodilosso will be the portfolio managers.

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

There will be no shareholder fees. Management fees and total annual fund operating expenses have not yet been determined.

New York-based Van Eck Associates Corp. will be the investment adviser.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.