Big Board Lists Market Vectors-Russia ETF
30 Avril 2007 - 4:45PM
PR Newswire (US)
RSX Provides U.S. Investors With Access to a Portfolio of 30
Russian Companies Traded on Global Exchanges NEW YORK, April 30
/PRNewswire-FirstCall/ -- New York-based asset manager Van Eck
Global today launched Market Vectors-Russia ETF (NYSE:RSX), a new
exchange-traded fund (ETF) that is listed on the New York Stock
Exchange (NYSE). The fund is the first ETF listed in the U.S. that
enables U.S. investors to gain exposure to a broad spectrum of
Russian companies. RSX has been approved for extended trading
privileges on the NYSE Arca electronic marketplace. In addition to
being available for trading during the normal trading hours of 9:30
am to 4:00 pm, RSX will be available to trade on NYSE Arca from
4:00 am to 9:30 am and from 4:00 pm to 8:00 pm. NYSE Arca will
calculate and disseminate the IOPV (indicated optimized portfolio
value) over the CTA (Consolidated Tape Association) from 4:00 am to
8:00 pm ET. Options are expected to be available on RSX. The new
Market Vectors-Russia ETF seeks to replicate as closely as
possible, before fees and expenses, the price and yield performance
of the DAXglobal(R) Russia+ Index (DXRPUS), a basket of the
securities of 30 of the most heavily traded Russian companies that
have listings on global exchanges, either through an American
Depository Receipt (ADR), a Global Depository Receipt (GDR), or
local Russian shares. The index, which was launched in March 2007,
includes many companies of global prominence, including energy
giants as Lukoil, OAO Gazprom, and Surgutneftgaz, as well as
utility giant Unified Energy Systems, steel manufacturing firms
Mechel OAO and Evraz Group SA, mining firm JSC MMC Norilsk Nickel,
and communications firms Mobile TeleSystems OJSC and
Vimpel-Communications, and banking leader Sberbank. RSX provides
investors with a convenient, low cost means to gain diversified
exposure to the world's 14th ranked economy, whose growth in recent
years has been well in excess of many developed economies. Spanning
11 time zones, Russia is the largest country in the world
geographically and has enormous reserves of petroleum, natural gas,
coal, precious and base metals, diamonds and timber. The total net
expense ratio of RSX is 0.69%, well below those of mutual funds
focused on Russia. "As Russia continues to grow and mature, it will
likely assume an increasingly important role in the global economy,
and exposure to the country's markets will be of growing interest
to U.S. investors," said Jan van Eck, Principal at Van Eck Global.
"As the first ETF listed in the U.S. to target Russia, we believe
that RSX will appeal to anyone looking for a convenient means to
access the market." For nearly a decade after the collapse of the
Soviet Union in 1991, investment in Russia was hampered by
political instability and economic uncertainty. Since 2001,
however, significantly greater political stability and the global
commodities boom have combined to help Russian companies produce
strong returns. As a result, the DAXglobal(R) Russia+ Index
returned approximately 152.52 percent and 580.90 percent over
three- and five-years, respectively* and have a combined market
capitalization of approximately $762.45 billion.* "The DAXglobal(R)
Russia+ Index was created to capture the strengths of the Russian
economy," said Angelika Weinfurtner of the Deutsche Borse AG. "We
look forward to working with Van Eck to bring the index before a
wider audience through the introduction of the Market
Vectors-Russia ETF." Founded in 1955, Van Eck Global was among the
first U.S. money managers helping investors achieve greater
diversification through global investing. As of February 28, 2007,
the company managed over $4.8 billion in assets for individuals,
insurers and institutional investors. RSX is the fourth ETF
introduced under Van Eck's Market Vectors brand and its first to
track international equities. It follows 2006 introductions of
three Market Vectors ETFs: Environmental Services (AMEX:EVX), Gold
Miners (AMEX:GDX) and Steel (AMEX:SLX). Past performance does not
guarantee future results. The returns of DXRPUS or any particular
company do not represent the performance of any ETF. DXRPUS does
not charge any fees, including management fees or brokerage
expenses, and no such fees or expenses were deducted from the
performance described. You cannot invest directly in an index. *All
performance information for DXRPUS covering the period prior to
March 22, 2007 is based on hypothetical, back-tested data. Prior to
March 22, 2007, the Index was not calculated in real time by an
independent calculation agent. Hypothetical back-tested performance
has inherent limitations and is not indicative of future results.
No representation is being made that any investment will achieve
performance similar to that shown. About Deutsche Borse AG Deutsche
Borse Group offers more than a marketplace for trading shares and
other securities. It is a transaction services provider with
advanced technology to afford companies and investors access to
global capital markets. Deutsche Borse has a broader basis than any
of its competitors. Its product and services mix cover the entire
process chain: securities and derivatives trading, transaction
settlement, provision of market information as well as the
development and operation of electronic trading systems. With its
process-oriented business model, Deutsche Borse increases capital
markets efficiency. Issuers benefit from low capital costs and
investors enjoy the advantages of high liquidity and low
transaction costs. The DAXglobal(R) Russia+ Index (DXRPUS) is a
trademark of the Deutsche Borse AG which is licensed for use by Van
Eck Associates Corporation in connection with the Fund. Market
Vectors-Russia ETF is not sponsored or endorsed by the Deutsche
Borse and the Deutsche Borse makes no warranty or representation as
to the accuracy and/or completeness of the Index or the results to
be obtained by any person from the use of the Index in connection
with the trading of the Fund. About Van Eck Global Founded in 1955,
Van Eck Associates Corporation was among the first U.S. money
managers helping investors achieve greater diversification through
global investing. Today, the firm continues its 50+ year tradition
by offering global investment choices in hard assets, emerging
markets, precious metals including gold, and other specialized
asset classes. Van Eck Global's investment products are designed
for investors seeking innovative choices for portfolio
diversification. They are often categorized in asset classes having
returns with low correlations to those of more traditional U.S.
equity and fixed income investments. Investors may call
1.888.MKT.VCTR or visit http://www.vaneck.com/etf for a free
prospectus or for the performance information current to the most
recent month end for each Market Vectors ETF. Investors should
consider the investment objective, risks and charges and expenses
carefully before investing. Each Market Vectors ETF prospectus
contains this and other information. Please read the relevant
prospectus carefully before investing. There are risks associated
with investing including the possible loss of principal.
DATASOURCE: Van Eck Global CONTACT: Mike MacMillan or Andrew Schiff
of MacMillan Communications, +1-212-473-4442, , both for Van Eck
Global Web site: http://www.vaneck.com/etf
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